Existing customer to increase conversion of steam traps to GEM traps at one of its European sites
Ottawa, Ontario--(Newsfile Corp. - May 14, 2025) - 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 a $930 thousand GEM order from a multinational consumer products company for one of its European sites. All figures are shown in CAD.
"Based on realized fuel savings and the carbon emissions reductions delivered to date by our GEM steam traps at this site and a number of the customer's other sites, the customer decided to convert more of this facility over to GEM," said William Crossland, CEO of Thermal Energy International. "Extensive testing done across this customer's facilities indicate fuel savings from the GEM traps of approximately 10%. As a result, this customer sees our GEM steam traps as an important component of their broader efforts to optimise energy use and since 2022 we have delivered more than $4 million worth of GEM projects with this customer, across nine of their production sites around the world. We look forward to continuing to expand our relationship with this customer and we see additional opportunities at a number of their other production locations around the world."
The revenue from this order is expected to be earned within six months.
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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.
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.
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