RECEIVES $1.82 MILLION HEAT RECOVERY ORDER FROM FORTUNE 500 FOOD AND BEVERAGE LEADER
Thermal Energy International Inc. (TMG.V) has received a $1.82-million order from a leading Fortune 500 food and beverage company for one of the company's proprietary FLU-ACE heat recovery system.
The heat recovery system is expected to provide the customer with utility savings of $360,000 per year, primarily in the form of natural gas savings. The FLU-ACE system will reduce the customer's annual water usage by approximately 7.6 million litres and its carbon emissions by 2,300 tonnes. The project is expected to be completed and revenue earned over the next six to nine months.
"Including this latest order, we have now sold our heat recovery systems to six of this customer's sites, as well as having partially or fully converted 28 of their sites over to our GEM venturi orifice steam traps," said William Crossland, chief executive officer of Thermal Energy International. "This customer signed a global pricing agreement with us back in June of 2015, and we continue to work with them to identify potential projects at other sites. The ongoing business we continue to receive from this global leader is a huge testament to our commitment to partnering with our customers to help them realize significant gains in energy productivity and reductions in greenhouse gas emissions. With this latest order and our products installed to date, doing business with Thermal Energy International is expected to provide this customer with estimated annual energy savings of $2.4-million, estimated annual water savings of 106.5 million litres valued at over $359,000 and estimated annual carbon emission reduction savings of 19,000 tonnes."
Natural gas savings are derived from preheating boiler make-up water and process flows upstream of existing regeneration and steam heat exchangers, thereby lowering steam demand and boiler fuel consumption.
Water savings are based on the fact that the FLU-ACE system continually condenses water vapour formed in the products of combustion of the natural gas and carried in the boiler exhaust. The customer has proposed to use this condensate in its cooling towers to offset make-up water consumption and its associated costs.
About Thermal Energy International Inc.
Thermal Energy International is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors.