STOCK TITAN

Thermal Energy Receives $2.2 Million in Repeat Business from a Leading Pharmaceutical Company

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

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 Inc. (TSXV: TMG) (OTCQB: TMGEF) ha ottenuto un ordine di 2,2 milioni di dollari per un progetto di recupero di calore e pompa di calore da una importante azienda farmaceutica multinazionale. Questo rappresenta il secondo ordine di recupero di calore nell'ambito del loro contratto globale di servizi. Il progetto comprende sia i sistemi di recupero di calore Flu-Ace e HeatSponge che due pompe di calore.

Principali punti salienti:

  • Si prevede di garantire quasi 1 milione di dollari di risparmi annuali sul carburante
  • Si prevede una riduzione delle emissioni di CO2 di 1.199 tonnellate all'anno, pari a una riduzione del 14% delle emissioni del sito
  • Completamento del progetto e ricavi attesi entro 12 mesi
  • Primo progetto che incorpora pompe di calore per convertire in modo efficiente l'energia termica recuperata in temperature più elevate

Il CEO William Crossland ha sottolineato l'importanza del progetto nell'aiutare il cliente a rispettare i propri impegni di riduzione delle emissioni per il 2030 in modo conveniente. L'azienda continua a discutere ulteriori opportunità di progetto con questo cliente, che ha circa 40 siti di interesse in tutto il mondo.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ha asegurado un pedido de 2.2 millones de dólares para un proyecto de recuperación de calor y bomba de calor de una destacada compañía farmacéutica multinacional. Este es el segundo pedido de recuperación de calor bajo su contrato global de servicios. El proyecto incluye tanto los sistemas de recuperación de calor Flu-Ace y HeatSponge como dos bombas de calor.

Puntos clave:

  • Se espera que entregue casi 1 millón de dólares en ahorros anuales de combustible
  • Se proyecta que reduzca las emisiones de CO2 en 1,199 toneladas por año, una reducción del 14% en las emisiones del sitio
  • Se espera completar el proyecto y generar ingresos en un plazo de 12 meses
  • Primer proyecto que incorpora bombas de calor para convertir eficazmente la energía térmica recuperada en temperaturas más altas

El CEO William Crossland enfatizó la importancia del proyecto en la ayuda al cliente para cumplir con sus compromisos de reducción de emisiones para 2030 de manera rentable. La empresa sigue discutiendo oportunidades de proyectos adicionales con este cliente, que tiene alrededor de 40 sitios de interés en todo el mundo.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF)는 한 글로벌 다국적 제약회사로부터 220만 달러 주문을 확보했습니다. 이는 그들의 글로벌 마스터 서비스 계약에 따른 두 번째 열 회수 주문입니다. 이 프로젝트에는 Flu-Ace 및 HeatSponge 열 회수 시스템과 두 개의 열 펌프가 포함됩니다.

주요 하이라이트:

  • 연간 연료 절약액으로 거의 100만 달러를 제공할 것으로 예상됨
  • CO2 배출량을 연간 1,199톤 줄일 것으로 예상되며, 이는 현장 배출의 14% 감소에 해당
  • 프로젝트 완료 및 수익은 12개월 이내에 예상
  • 회수한 열 에너지를 더 높은 온도로 효율적으로 변환하는 열 펌프를 포함한 최초의 프로젝트

CEO 윌리엄 크로슬랜드는 이 프로젝트가 고객이 2030년 감축 약정을 비용 효율적으로 달성하는 데 중요한 역할을 한다고 강조했습니다. 이 회사는 전 세계에 약 40개의 관심 사이트를 가진 이 고객과 추가 프로젝트 기회를 계속 논의하고 있습니다.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) a obtenu une commande de 2,2 millions de dollars pour un projet de récupération de chaleur et de pompe à chaleur d'une entreprise pharmaceutique multinationale de premier plan. Cela marque la deuxième commande de récupération de chaleur dans le cadre de leur contrat de services mondial. Le projet comprend à la fois les systèmes de récupération de chaleur Flu-Ace et HeatSponge et deux pompes à chaleur.

Points clés :

  • On s'attend à réaliser près de 1 million de dollars d'économies annuelles sur le combustible
  • Prévision de réduction des émissions de CO2 de 1 199 tonnes par an, soit une réduction de 14 % des émissions sur site
  • Achèvement du projet et revenus prévus dans un délai de 12 mois
  • Premier projet intégrant des pompes à chaleur pour convertir efficacement la chaleur récupérée en températures plus élevées

Le PDG William Crossland a souligné l'importance du projet pour aider le client à respecter ses engagements de réduction des émissions pour 2030 de manière rentable. L'entreprise continue de discuter d'autres opportunités de projet avec ce client, qui possède environ 40 sites d'intérêt dans le monde.

Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) hat einen Auftrag über 2,2 Millionen Dollar für ein Projekt zur Wärmegewinnung und Wärmepumpe von einem führenden multinationalen Pharmaunternehmen gesichert. Dies ist bereits der zweite Auftrag zur Wärmegewinnung im Rahmen ihrer globalen Rahmenvereinbarung. Das Projekt umfasst sowohl Flu-Ace- als auch HeatSponge-Wärmerückgewinnungssysteme sowie zwei Wärmepumpen.

Wesentliche Höhepunkte:

  • Es wird erwartet, dass es nahezu 1 Million Dollar an jährlichen Kraftstoffeinsparungen liefert
  • Prognose zur Reduzierung der CO2-Emissionen um 1.199 Tonnen pro Jahr, was einer Reduzierung der Emissionen vor Ort um 14% entspricht
  • Voraussichtlicher Abschluss des Projekts und Einnahmen innerhalb von 12 Monaten
  • Erstes Projekt, das Wärmepumpen integriert, um die rückgewonnene Wärme effizient in höhere Temperaturen umzuwandeln

CEO William Crossland betonte die Bedeutung des Projekts, um dem Kunden zu helfen, seine Verpflichtungen zur Reduzierung der Emissionen bis 2030 kosteneffektiv zu erfüllen. Das Unternehmen setzt die Diskussion über weitere Projektmöglichkeiten mit diesem Kunden fort, der weltweit etwa 40 interessante Standorte hat.

Positive
  • Secured a $2.2 million order for heat recovery and heat pump project
  • Expected to generate nearly $1 million in annual fuel savings for the client
  • Projected to reduce CO2 emissions by 1,199 tons per year (14% site reduction)
  • First project incorporating heat pumps, expanding applicability of energy recovery
  • Ongoing discussions for additional projects with the client (40 potential sites)
Negative
  • None.

Project includes both Flu-Ace and HeatSponge heat recovery systems and two heat pumps

Ottawa, Ontario--(Newsfile Corp. - September 23, 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 $2.2 million from a leading multinational pharmaceutical company. All figures are shown in CAD.

"This is our second heat recovery order under our global master services agreement with this leading pharmaceutical company," said William Crossland, CEO of Thermal Energy. "This project, and the one we announced last fall, are key to this customer meeting its 2030 emission reduction commitments as economically as possible. This customer has about 40 sites of interest to us around the world and we continue to discuss additional project opportunities with them."

"Of equal importance, this is our first project that includes heat pumps to very efficiently convert the thermal energy recovered by our Flu-Ace and HeatSponge technologies to a higher temperature than can be achieved previously, broadly expanding the applicability of the energy recovered by our established best-in-class technologies"

"Thermal Energy has assisted several prominent pharmaceutical companies in cutting energy costs and lowering carbon emissions. Our proven solutions are ideal for the pharmaceutical sector, where significant amounts of heat are commonly used, and there is a strong commitment to reducing greenhouse gas emissions. Additionally, the sector's financial resources enable meaningful action toward carbon reduction."

Based on the client's expected natural gas prices, the project is expected to deliver close to $1 million in annual fuel savings, while the expected reduction in natural gas consumption would reduce CO2 emissions by 1,199 tons per year, representing an estimated 14% reduction in site CO2 emissions.

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 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback.

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/224110

FAQ

What is the value of the new order received by Thermal Energy International (TMGEF)?

Thermal Energy International (TMGEF) has received an order valued at approximately $2.2 million for a heat recovery and heat pump project from a leading multinational pharmaceutical company.

How much annual fuel savings is the project expected to deliver for the client?

Based on the client's expected natural gas prices, the project is expected to deliver close to $1 million in annual fuel savings.

What is the expected CO2 emission reduction from this project?

The project is expected to reduce CO2 emissions by 1,199 tons per year, representing an estimated 14% reduction in site CO2 emissions.

When is the project expected to be completed and revenue earned by Thermal Energy International (TMGEF)?

The project is expected to be completed and revenue earned within 12 months.

What new technology is Thermal Energy International (TMGEF) incorporating in this project?

This is Thermal Energy International's first project that includes heat pumps to efficiently convert the thermal energy recovered by their Flu-Ace and HeatSponge technologies to a higher temperature than previously achievable.

THERMAL ENGY INTL LTD

OTC:TMGEF

TMGEF Rankings

TMGEF Latest News

TMGEF Stock Data

25.18M
160.84M
6.66%
0.24%
Pollution & Treatment Controls
Industrials
Link
United States of America
Ottawa