Thermal Energy Receives $1,148,000 in Orders from Hospital Trust for Energy Efficiency Improvements

Thermal Energy International Inc. a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, has received orders with a combined value of approximately $1,148,000 from a hospital trust for continued energy efficiency improvements. The orders include $868,000 for a heat recovery system at one of the trust's hospitals and a $280,000 GEM® order for another of the trust's hospitals.  These projects are expected to provide the hospital trust $361,000 in annual savings and reduce its carbon emissions by approximately 1,200 tonnes per year, with a combined payback period of just over three years.  Both projects are expected to be completed and revenue earned over the next six months.

"This is another example of repeat business from a group of hospitals," said William Crossland, CEO of Thermal Energy.  "In 2012, we had converted another of this customer's hospitals over to our GEM steam traps. Having realized the superior performance and energy savings from our steam traps, the hospital trust has turned to us to deliver more energy efficiency improvements. By reducing hospitals' energy bills, our products provide real savings that can be reallocated to other critical areas, such as patient care. In addition to helping hospitals save much needed funds, our proven products have helped more than 110 hospitals across North America and Europe significantly lower their carbon emissions."

Including the 2012 GEM conversion and the two current orders, Thermal Energy's energy efficiency solutions are expected to reduce the hospital trust's annual carbon emissions by approximately 2,200 tonnes while providing annual savings of approximately $637,000. Over the expected 20+ year life Thermal Energy's energy efficiency solutions could deliver more than $12.7 million in savings and reduce carbon emissions by more than 44,000 tonnes.

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Source: Thermal Energy International Inc
Date: Aug 4, 2016