THERMAL ENGY INTL LTD - TMGEF STOCK NEWS

Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) has granted 1,392,000 stock options to its officers and directors as part of a remuneration and incentive program. The options, granted on November 30, 2024, have a 5-year term and are exercisable at $0.20. The vesting schedule distributes one-third of the options annually over three years from the grant date. The stock option grants remain subject to necessary regulatory approvals.

Thermal Energy International's subsidiary, Boilerroom Equipment Inc. (BEI), has secured three orders totaling over $1 million CAD in the past three weeks. The orders include BEI's second-largest purchase order ever from a major multinational beverage company for three two-stage boiler economizers, nine single-stage economizers for a Colombian animal feedlot operation, and two boiler economizers for the Canadian government. All orders are expected to be fulfilled within 12 months, demonstrating continued demand for BEI's energy efficiency solutions.

Thermal Energy International (TSXV:TMG)(OTCQB:TMGEF), a provider of energy efficiency and carbon emission reduction solutions, announces its participation in the Virtual Investor Summit on November 21, 2024. The company will deliver a presentation from 12:30pm to 1:00pm ET and offer one-on-one meetings throughout the day.

The event focuses on 40 micro-cap companies with catalysts and strong market performance. Key investment highlights include proprietary solutions with high ROI, significant repeat business from Fortune 500 companies, and a track record of profitable growth.

Thermal Energy International reported record financial results for Q1 2025 (ended August 31, 2024). Revenue increased 63% year-over-year to $8.5 million, driven by strong turn-key heat recovery projects. The company achieved EBITDA of $0.6 million (up 33%) and net income of $0.3 million (up 91%). The order backlog stood at $13.5 million at quarter-end, rising to $18.4 million by October 28, 2024. Trailing twelve-month revenue reached a new high of $29.2 million, up 26% year-over-year, despite increased operating expenses from growth investments.

Thermal Energy International has secured a $1.5 million CAD heat recovery project order from a multinational confectionery company. The turn-key project involves installing a Flu-Ace® heat recovery system and replacing two OEM economizers with HeatSponge® economizers at a Canadian site. The implementation is expected to reduce the facility's natural gas consumption and CO2 emissions by 16%, contributing significantly to the customer's 2030 carbon reduction goals. The project is anticipated to be completed within 12 months.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, will release its fiscal 2025 first quarter financial results on October 30, 2024, before market open. The company will host an earnings conference call and webcast at 8:30 a.m. ET the same day to review the results.

A live webcast with slide presentation will be available at https://bit.ly/TMG2025Q1. Participants can join via MS Teams or dial in for audio-only access. The dial-in number for Canada is +1 437-703-4481, with Conference ID: 684 271 075#. Local numbers are also available. Financial statements and management's discussion will be filed on SEDAR+ and available on Thermal Energy's website following the release.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) has secured a $2.2 million order for a heat recovery and heat pump project from a leading multinational pharmaceutical company. This marks the second heat recovery order under their global master services agreement. The project includes both Flu-Ace and HeatSponge heat recovery systems and two heat pumps.

Key highlights:

• Expected to deliver nearly $1 million in annual fuel savings
• Projected to reduce CO2 emissions by 1,199 tons per year, a 14% reduction in site emissions
• Project completion and revenue expected within 12 months
• First project incorporating heat pumps to efficiently convert recovered thermal energy to higher temperatures

CEO William Crossland emphasized the project's importance in helping the customer meet its 2030 emission reduction commitments cost-effectively. The company continues to discuss additional project opportunities with this client, which has about 40 sites of interest worldwide.

Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) reported record financial results for fiscal 2024. Key highlights include:

- Revenue up 23% to $25.9 million for the year
- Gross profit up 30% to $12.5 million
- EBITDA up 15% to $2.0 million
- Net income up 36% to $1.0 million
- Order intake up 8% to $29.5 million
- Order backlog up 43% to $18.7 million

The company reinvested $1.5 million in growth initiatives, including expanding its team and production capacity. While Q4 results were lower year-over-year due to exceptional GEM orders in the prior year, annual performance showed significant growth across the business. The current order backlog stands at $21.3 million as of September 18, 2024.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, will release its fiscal 2024 fourth quarter and year-end financial results on September 19, 2024, before market open. Management will host an earnings conference call and webcast at 8:30 a.m. ET the same day to review the results. The webcast will be accessible via Microsoft Teams, with a dial-in option available for those unable to join via Teams. Financial statements and management's discussion and analysis will be filed on SEDAR+ and available on Thermal Energy's website following the release.