Thermal Energy International Awarded $1.2 Million Heat Recovery Order from another Major Hospital
14 Novembro 2013 - 6:10PM
Access Wire
OTTAWA, ONTARIO - November 14, 2013
- Thermal Energy International Inc. ("Thermal
Energy" or the "Company") (TSXV: TMG), a global provider of energy
efficiency and emission reduction solutions, announced today that
it has received a purchase order valued at approximately $1.2
million for the installation of a heat recovery system for a major
hospital. The heat recovery system is expected to be installed and
revenue earned over the next two fiscal quarters.
"This is the third
major hospital placing a significant order already in fiscal 2014,"
said William Crossland, CEO of Thermal Energy. "We have made great
inroads into the institutional market and hospitals continue to
prove to be a good source of business for both our heat recovery
and GEM(R) steam trap
systems. In the past five months we have received heat recovery and
GEM(R) orders
totalling, in aggregate, approximately $2.8 million from hospitals
alone."
The heat recovery
system to be installed is calculated by Thermal Energy to provide
annual energy savings of approximately $330,000, and reduce the
hospital's total carbon emissions by 9% or approximately 1,153
tonnes annually. The project will also provide a payback of
approximately 3.8 years, with an expected life of 20
years.
With this order
Thermal Energy's order backlog currently stands at approximately
$10.2 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.
For more
information, visit our website at www.thermalenergy.com.
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|William Crossland President and |Trevor Heisler Investor |
|CEO Thermal Energy International |Relations Heisler |
|Inc. 613-723-6776 |Communications 416-500-8061 |
|bill.crossland@thermalenergy.com |trevor@heislercommunications.com|
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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. 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 backlog 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. Orders in the Company's backlog as described above may
not turn into revenue due to many factors, some of which are
outside of the Company's control, including but not limited to the
Company's ability to deliver products on time and in accordance
with specifications and the continuing financial viability of the
customer. Additional heat recovery and GEM(R) steam trap projects
being developed by the Company may not result in orders for the
Company's products. The Company disclaims any obligation to
publicly update or revise any such statements except as required by
law.
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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