Thermal Energy International Receives $480,000 GEM (TM) Order from Major Multinational Food & Beverage Company
03 Julho 2013 - 10:00AM
Access Wire
OTTAWA, ONTARIO - July 3, 2013
- Thermal Energy International Inc. (TSXV: TMG)
("Thermal Energy" or the "Company"), a leading provider of custom
energy efficiency and emission reduction technologies to energy
intensive industries and institutions worldwide, today announced
that it has received a new GEM(R)
steam trap order totalling approximately $480,000
from a major multinational food and beverage company. The order is
to replace the entire steam trap system at one of the company's
manufacturing facilities and is expected to be installed and
revenue earned over the next six months.
"This order is
Thermal Energy's largest individual GEM system order to date and
demonstrates the significant benefits that the
GEM(R) steam trap
system brings to the industrial markets in terms of increased steam
efficiencies," said William Crossland, President and CEO of Thermal
Energy. "By targeting large multinational manufacturers, we are
able to leverage our initial sales and trial activities across
multiple customer locations with the goal of shortening the sales
cycle and increasing order volume."
This major
multinational food and beverage company customer produces more than
$25 billion in revenue with approximately 100,000 employees in more
than 150 countries. The order was preceded by a successful metered
trial at the customer's site that demonstrated energy savings in
excess of 10% with the GEM(R)
steam trap system compared to the customer's
traditional mechanical type steam traps, comfortably exceeding the
customer's corporate return on investment requirements.
The
GEM(R) steam traps to
be installed at this site are calculated by Thermal Energy to
reduce the site's annual fuel consumption by more than 10% and
reduce the facility's green house gas emissions by approximately
415 tonnes annually.
With this order Thermal
Energy's order backlog currently stands at approximately $8 million
of which approximately $0.5 million is related to long term
contracts and is not expected to be reflected in revenue within the
next 12 months. Thermal Energy includes in "order backlog" all
purchase orders received for product or services that have not yet
been reflected as revenue in the Company's published quarterly
financial statements.
About Thermal Energy International
Inc.
Thermal Energy
International Inc. is an innovative cleantech company providing a
variety of proprietary and proven energy efficiency, emission
reduction, water efficiency, and bioenergy products and solutions
to the industrial, commercial and institutional markets worldwide.
Thermal Energy is also a fully accredited professional engineering
firm, and can offer advanced process and applications engineering
services. By providing a unique mix of proprietary products
together with process, energy, environmental, and financial
expertise Thermal Energy is able to deliver significant financial
and environmental benefits to its customers.
Thermal
Energy's products include; GEM(R) - Steam traps and condensate return systems,
FLU-ACE(R)
- Direct contact condensing heat
recovery, and Dry RexTM - Low temperature biomass drying systems. These award
winning products are effective in a wide variety of industries and
application and have an excellent track record of longevity, proven
reliability and performance providing significant energy savings,
reduced GHG emissions, improved water efficiency, lower maintenance
costs, improved product quality and increased production
efficiency.
Thermal Energy
International Inc. has offices in Ottawa, Canada as well as
Bristol, UK, United States, Italy and China. To find out more about
Thermal Energy International Inc. (TSX-V: TMG), visit our website
at http://www.thermalenergy.com.
For
more information, please contact:
William Crossland
President and CEO
Thermal Energy
International Inc.
613-723-6776
bill.crossland@thermalenergy.com
# # #
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 and the timing of revenues to be received by
the Company. 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. The Company disclaims any obligation
to publicly update or revise any such statements.
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.
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