Welcome to our dedicated page for Thermal Energy news (Ticker: TMGEF), a resource for investors and traders seeking the latest updates and insights on Thermal Energy stock.
About Thermal Energy
Thermal Energy is a global provider of innovative energy efficiency and carbon emission reduction solutions, specializing in turnkey heat recovery and custom engineered systems designed for large multinational corporations. Through its proprietary technology and advanced engineering expertise, the company transforms waste heat into usable energy, thereby reducing fuel consumption and lowering operational costs. Its solutions not only achieve significant energy savings but also contribute to meaningful reductions in carbon emissions, making it a key partner for companies pursuing strict sustainability and cost efficiency targets.
Core Business and Capabilities
The company's core operations revolve around process and environmental engineering services that deliver tailor-made solutions for optimizing industrial boiler plants, steam systems, and other heat-intensive operations. Utilizing a unique mix of proprietary products and engineering know-how, Thermal Energy undertakes site-specific turnkey projects that integrate heat recovery systems, energy efficiency measures, and emissions reduction technologies into a seamless solution. These services are delivered with an emphasis on rapid payback and high performance, ensuring that clients can realize both financial and environmental benefits in a short period.
Industry Focus and Market Position
Operating in the clean technology and industrial engineering sectors, Thermal Energy serves a diverse portfolio of customers, including Fortune 500 companies and other major multinational corporations. Its strategic expertise positions it as a reliable partner in enabling companies to meet ambitious carbon reduction goals while simultaneously achieving operational cost savings. The company’s approach to providing comprehensive engineering services, backed by professional accreditation and a global presence, sets it apart in a competitive landscape where innovation and performance are paramount.
Operational Excellence and Global Reach
With engineering offices in Ottawa, Pittsburgh, and Bristol, along with multiple sales offices across Canada, the UK, the USA, and key European markets, Thermal Energy exhibits extensive operational reach and localized expertise. This global footprint allows the company to implement its sophisticated solutions across diverse industrial environments and regulatory frameworks. Its business model emphasizes long-term partnerships with clients, ensuring that every project is engineered for both maximum energy recovery and compliance with environmental standards.
Technology and Innovation
Thermal Energy invests substantially in research and the development of digital tools that enhance project identification and execution. Its proprietary engineering platforms facilitate rapid assessment of energy-saving opportunities, ensuring that solutions are not only effective but also tailored to the specific needs of each customer. This integration of technology, engineering prowess, and process innovation underscores the company’s commitment to driving sustainable industrial practices while enhancing bottom-line performance for its clients.
Commitment to Expertise and Quality
The company’s unwavering focus on quality is demonstrated through its track record of delivering high-return projects in energy savings and emissions reduction. As a fully accredited professional engineering firm, Thermal Energy consistently adheres to rigorous industry standards, ensuring the reliability and durability of its solutions. The detailed, methodical approach to every project underlines its dedication to transforming industrial operations through expert engineering and innovative technology.
Positioning within the Competitive Landscape
Thermal Energy’s distinctiveness stems from its ability to combine a deep technical background with a broad geographic reach and flexible service offerings. By addressing both energy efficiency and carbon reduction, the company not only supports clients in meeting regulatory and self-imposed sustainability targets, but also strengthens its competitive position in an increasingly environmentally conscious market. This balanced and expertise-driven approach makes it a prominent fixture in the industrial energy solutions space.
Conclusion
In summary, Thermal Energy stands as a robust example of how innovative engineering and proprietary technology can converge to create high-value energy efficiency solutions. Its comprehensive suite of services and global operational reach enable major corporations to achieve significant cost savings and environmental benefits, making it a critical player in the transition towards more sustainable industrial practices.
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.
Thermal Energy International Inc. (TSX-V:TMG, OTCQB:TMGEF), a global provider of innovative energy efficiency and carbon emission reduction solutions, is set to present at the Planet MicroCap Showcase: Vancouver 2024 on September 26, 2024. CEO William Crossland will highlight the company's investment potential, focusing on:
- Proprietary solutions offering high ROI and quick payback
- Significant repeat business from Fortune 500 and large multinational customers
- Track record of profitable growth
The presentation will be accessible via webcast at 12 PM Eastern Time. Thermal Energy will also participate in 1x1 meetings at the Fairmont Waterfront Vancouver. Investors can register for the event and book meetings through the provided links. A recent YouTube video featuring William Crossland discussing the company's project pipeline and value proposition is available for viewing.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, announced that CEO William Crossland has published a letter to shareholders. The letter, available on the company's website, offers insights into:
1. Thermal Energy's progress in fiscal 2024
2. Investments made for continued growth
3. Outlook for fiscal 2025
4. Significance of starting the year with the highest order backlog in company history
Shareholders and interested parties are encouraged to subscribe to TEI News for direct updates. This communication aims to provide transparency and keep stakeholders informed about the company's strategic direction and performance.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) has announced record order intake for its fiscal year ended May 31, 2024, totaling $29.7 million. This represents a 9% increase year-over-year and a 151% increase over the past two years. The company's order backlog at the end of May was up approximately 40% compared to last year and over 200% higher than two years ago.
CEO William Crossland highlighted record order intakes for turn-key heat recovery solutions and the Boilerroom Equipment, Inc. subsidiary, as well as the second-highest annual order intake for the GEM business. These achievements reflect strong demand for Thermal Energy's efficiency and emission reduction solutions, demonstrating customer trust in their technology and expertise.
Thermal Energy International Inc. announced a $1.9 million turn-key heat recovery project for a global materials company to help achieve carbon emission reduction targets. The project is expected to save the customer over $980,000 annually, reduce CO2 emissions by 977 tonnes per year, and improve pollution prevention and control. The customer's engagement with the Science Based Targets initiative demonstrates a commitment to a low-carbon economy. The project is the result of a collaborative effort between the customer and Thermal Energy, showcasing trust in the technology and engineering capabilities of Thermal Energy. The project is set to be completed within nine months.
FAQ
What is the current stock price of Thermal Energy (TMGEF)?
What is the market cap of Thermal Energy (TMGEF)?
What is Thermal Energy's core business?
How does Thermal Energy generate revenue?
Which industries does Thermal Energy serve?
What differentiates Thermal Energy from its competitors?
Where is Thermal Energy headquartered and how extensive is its global presence?
What types of projects does Thermal Energy typically execute?
Are Thermal Energy's solutions customized for each client?
How does Thermal Energy ensure the quality and reliability of its solutions?
