Thermal Energy Announces $2.8 Million Turn-Key Project with a Leading Pharmaceutical Company
Thermal Energy International (TSXV: TMG, OTCQB: TMGEF) has secured a $2.8 million heat recovery and heat pump project from a leading multinational pharmaceutical company. This marks their third heat recovery project with the customer in the past 15 months under a global master services agreement.
The turn-key project combines HeatSponge® indirect contact, FLU-ACE® direct contact heat recovery system, and an integrated heat pump. The implementation is expected to achieve 93% boiler efficiency and reduce CO2 emissions by 728 tons annually, representing an 11% reduction in site emissions. The project is scheduled for completion within 12 months.
Thermal Energy International (TSXV: TMG, OTCQB: TMGEF) ha ottenuto un progetto di recupero di calore e pompa di calore del valore di 2,8 milioni di dollari da una importante multinazionale nel settore farmaceutico. Questo segna il loro terzo progetto di recupero di calore con il cliente negli ultimi 15 mesi sotto un accordo globale di servizi.
Il progetto chiavi in mano combina il sistema di recupero di calore a contatto indiretto HeatSponge®, il sistema di recupero di calore a contatto diretto FLU-ACE® e una pompa di calore integrata. Si prevede che l'implementazione raggiunga un 93% di efficienza della caldaia e riduca le emissioni di CO2 di 728 tonnellate all'anno, rappresentando una riduzione dell'11% delle emissioni del sito. Il progetto è previsto per il completamento entro 12 mesi.
Thermal Energy International (TSXV: TMG, OTCQB: TMGEF) ha conseguido un proyecto de recuperación de calor y bomba de calor por un valor de 2,8 millones de dólares de una multinacional líder en el sector farmacéutico. Esto marca su tercer proyecto de recuperación de calor con el cliente en los últimos 15 meses bajo un acuerdo global de servicios.
El proyecto llave en mano combina el sistema de recuperación de calor por contacto indirecto HeatSponge®, el sistema de recuperación de calor por contacto directo FLU-ACE® y una bomba de calor integrada. Se espera que la implementación logre una eficiencia de caldera del 93% y reduzca las emisiones de CO2 en 728 toneladas anuales, representando una reducción del 11% en las emisiones del sitio. El proyecto está programado para completarse en un plazo de 12 meses.
Thermal Energy International (TSXV: TMG, OTCQB: TMGEF)는 선도적인 다국적 제약 회사로부터 280만 달러 규모의 열 회수 및 열 펌프 프로젝트를 확보했습니다. 이는 지난 15개월 동안 고객과의 세 번째 열 회수 프로젝트로, 글로벌 마스터 서비스 계약에 따라 진행됩니다.
이 턴키 프로젝트는 HeatSponge® 간접 접촉 및 FLU-ACE® 직접 접촉 열 회수 시스템과 통합된 열 펌프를 결합합니다. 이 시스템은 93% 보일러 효율을 달성하고 CO2 배출량을 연간 728톤 감소시킬 것으로 예상되며, 이는 현장 배출량의 11% 감소에 해당합니다. 프로젝트는 12개월 이내에 완료될 예정입니다.
Thermal Energy International (TSXV: TMG, OTCQB: TMGEF) a obtenu un projet de récupération de chaleur et de pompe à chaleur d'une valeur de 2,8 millions de dollars d'une entreprise pharmaceutique multinationale de premier plan. Cela marque leur troisième projet de récupération de chaleur avec le client au cours des 15 derniers mois dans le cadre d'un accord mondial de services.
Ce projet clé en main combine le système de récupération de chaleur à contact indirect HeatSponge®, le système de récupération de chaleur à contact direct FLU-ACE®, et une pompe à chaleur intégrée. L'implémentation devrait atteindre une efficacité de chaudière de 93% et réduire les émissions de CO2 de 728 tonnes par an, représentant une réduction de 11% des émissions du site. Le projet est prévu pour être achevé dans un délai de 12 mois.
Thermal Energy International (TSXV: TMG, OTCQB: TMGEF) hat ein 2,8 Millionen Dollar großes Projekt zur Wärme- und Wärmepumpenrückgewinnung von einem führenden multinationalen Pharmaunternehmen gesichert. Dies ist ihr drittes Projekt zur Wärmegewinnung mit dem Kunden innerhalb der letzten 15 Monate im Rahmen eines globalen Dienstleistungsvertrages.
Das schlüsselfertige Projekt kombiniert das HeatSponge® indirekte Kontakt- und das FLU-ACE® direkte Kontaktwärmerückgewinnungssystem sowie eine integrierte Wärmepumpe. Die Umsetzung wird voraussichtlich eine Boiler-Effizienz von 93% erreichen und die CO2-Emissionen um 728 Tonnen jährlich reduzieren, was einer Reduktion der Emissionen vor Ort von 11% entspricht. Der Abschluss des Projekts ist innerhalb von 12 Monaten geplant.
- Secured significant $2.8M contract with major pharmaceutical company
- Third project with same customer in 15 months, indicating strong relationship
- Potential for expansion with 40 additional sites identified as opportunities
- Project expected to achieve 93% boiler efficiency
- Estimated 728 tons annual CO2 emissions reduction (11% site reduction)
- 12-month completion timeline indicates delayed revenue recognition
Third heat recovery project under global master services agreement in the last 15 months
Ottawa, Ontario--(Newsfile Corp. - December 16, 2024) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, has received an order for a heat recovery and heat pump project valued at approximately
"We are thrilled to announce our third heat recovery project with this customer within the last 15 months," said William Crossland, CEO of Thermal Energy International. "This continued partnership, facilitated by our global master services agreement, is a testament to the trust this industry leader places in our innovative energy efficiency solutions. The three projects announced thus far will play a fundamental role in helping them meet their 2030 emission reduction targets as cost-effectively as possible. With approximately 40 of their sites identified as opportunities for our technology, we are excited about the significant potential to further support their sustainability journey."
The turn-key project includes both indirect contact HeatSponge®, a direct contact FLU-ACE® heat recovery system, as well as an integrated heat pump. The project is expected to deliver approximately
The project is expected to be completed and revenue earned within 12 months.
Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox.
ENDS
For media enquiries contact:
Thermal Energy International Inc.
Canada: 613-723-6776
UK: +44 (0)117 917 2179
Marketing@thermalenergy.com
For investor enquiries:
William Crossland
President and CEO
Thermal Energy International Inc.
613-723-6776
Investors@thermalenergy.com
Notes to editors
About Thermal Energy International Inc.
Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to
Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers.
Thermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at https://investors-thermalenergy.com or company website at www.thermalenergy.com and follow us on Twitter at https://twitter.com/GoThermalEnergy.
Cautionary Statements
This press release contains forward-looking statements relating to, and amongst other things, based on management's expectations, estimates and projections, the anticipated effectiveness of the Company's products and services, the timing of revenues to be received by the Company, the expectation that orders in backlog will become revenue, the anticipated benefits of the Company's current efforts at training and business improvement efforts, opportunities for growth, the Company's belief that it can capitalize on opportunities, the size of markets and opportunities open to the Company. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International's products are based on the Company's own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company's products, statements about the expected environmental effects and cost savings associated with the Company's products and statements about the Company's ability to cross-sell its products and sell to more sites are forward-looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions.
Many factors, some of which are outside of the Company's control, could cause events and results to differ materially from those stated. Fulfilment of orders, installation of product and activation of product could all be delayed for a number of reasons, some of which are outside of the Company's control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Actions taken by the Company's customers and factors inherent in the customer's facilities but not anticipated by the Company can have a negative impact on the expected effectiveness and lifespan of the Company's products and on the expected environmental effects and cost savings expected from the Company's products. Any customer's willingness to purchase additional products from the Company and whether orders in the Company's backlog as described above will turn into revenue is dependent on many factors, some of which are outside of the Company's control, including but not limited to the customer's perceived needs and the continuing financial viability of the customer. The Company disclaims any obligation to publicly update or revise any such statements except as required by law. Readers are referred to the risk factors associated with the Company's business as described in the Company's most recent Management's Discussion and Analysis available at www.sedarplus.ca.
# # #
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233851
FAQ
What is the value of Thermal Energy's (TMGEF) latest pharmaceutical company project?
How many heat recovery projects has TMGEF completed with this pharmaceutical company?
What CO2 emission reduction will TMGEF's new project achieve?
How many additional sites are identified as opportunities for TMGEF's technology?
What is the expected boiler efficiency for TMGEF's new pharmaceutical project?
When will TMGEF complete the new $2.8M pharmaceutical project?
