Thermal Energy secures a Turnkey Heat Recovery Order

Thermal Energy International Inc. (Thermal Energy), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, has announced a turnkey heat recovery order valued at approximately USD 1M from a major multinational building materials company. The turnkey project will include the installation of three HeatSponge multi-pass two-stage boiler economizers proprietary to and developed by Boilerroom Equipment Inc.

When completed, this turnkey project is expected to provide annual natural gas savings of 41,545 mmBTU while reducing greenhouse gas emissions by up to 2,202 metric tons CO₂ per year, or 10% reduction of the site’s total CO₂ emissions.

The revenue from this order is expected to be earned within 12 months. The Company expects the gross margin for the project to be in line with historical amounts for its turnkey projects.

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