Resulting emissions reduction expected to be equivalent to preventing the burning of more than 21 million kilograms of coal per year OTTAWA, ONTARIO– December 5, 2017 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG), a global provider of industrial and institutional energy efficiency solutions, has been engaged by an existing pulp and paper customer to design, develop and implement a major energy efficiency improvement and greenhouse gas reduction project. The project includes the installation of two of Thermal Energy’s proprietary FLU-ACE® Heat Recovery Systems and the conversion of the mill’s steam traps to Thermal Energy’s proprietary GEM™ Steam Trap system. Once completed, the $11 million project is expected to provide the customer with annual natural gas savings of more than 35%, while reducing its annual greenhouse gas emissions by more than 20%, or approximately 43,000 metric tonnes. “Pulp and paper is one of the most energy intensive sectors and our energy efficiency solutions represent a win-win scenario," said William Crossland, CEO of Thermal Energy. "We have been working in partnership with this customer over the past year to develop a turn-key project that meets both their energy savings and greenhouse gas reduction goals. This resulted in our largest single order to date and a project that can serve as a blueprint for other large energy users around the world looking for an optimal solution for fighting climate change, by providing significant reductions in carbon emissions and energy use while, at the same time, delivering a high return on investment.” The estimated annual reduction in greenhouse gas emissions resulting from the project, once complete, is equivalent[1] to:
This project represents Thermal Energy’s largest heat recovery and largest GEM orders to date and is expected to be substantially completed and revenue earned over the next 18 months. [1] United States Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator: www.epa.gov/energy/greenhouse-gas-equivalencies-calculator [2] The Cost of Wind Energy in the US: www.awea.org/falling-wind-energy-costs About Thermal Energy International Inc.
Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors. Thermal Energy is also a fully accredited professional engineering firm and by providing a unique mix of proprietary products together with process, energy and, environmental engineering expertise, Thermal Energy is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers. Thermal Energy's proprietary products include; GEMTM - Steam traps, FLU-ACE® - Direct contact condensing heat recovery, and Dry-Rex® - Low temperature biomass drying systems. Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Germany, Italy and China. The Company’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG. For more information, visit our website at www.thermalenergy.com and follow us on Twitter at http://twitter.com/GoThermalEnergy. William Crossland President and CEO Thermal Energy International Inc. 613-723-6776 bill.crossland@thermalenergy.com Trevor Heisler Investor Relations Heisler Communications 416-500-8061 trevor@heislercommunications.com # # # 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. 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 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. 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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At the end of August, we announced that we had been engaged by a leading Fortune 500 food and beverage customer to implement a $1.46 million “Super-Efficient Cogeneration™” heat recovery project at one of its plants. Our announcement had led to media coverage of our best-in-class CHP solution in the Ottawa Business Journal, Decentralized Energy Magazine, Maximum Venture, and Energy Web TV (its an energy blog). Click on the images below to read the coverage by the various outlets.
Governments around the world are taking unprecedented action on climate change, with some governments having legislated incentives to improve the uptake of cogeneration technology. Cogeneration has long been popular in Europe, where district heating is more common, and among self-generating industrial customers around the world. In our own backyard, the Province of Ontario has incentives in place that cover up to 40% of the capital cost of an installation. Among other eligibility criteria, the cogeneration plant must produce a minimum of 100,000 kWh for on-site consumption annually while maintaining a minimum overall system efficiency of 65% (meaning 65% of the energy from the natural gas powering the cogeneration system is used as electricity or for heating). Another factor seemingly driving interest in cogeneration is the difference between how much electricity costs from the grid and how much it costs companies to produce it themselves with natural gas. Companies are realizing that it can be cheaper to produce their own power behind the meter, although they still have to remain connected to the grid in Ontario to qualify for the government’s incentives. In addition to increased efficiency, reduced greenhouse gas emissions, and significant cost savings for users, cogeneration also offers improved energy security. If there is a grid power outage, the cogeneration unit works as a backup source, securing the supply of energy so that there is no danger of electricity supply being interrupted.
Thermal Energy International will be attending the Canadian Health Engineering Society 2017 National Conference in beautiful Niagara Falls, Ontario from September 17th to 19th. Find us at booths 800 & 802 in the exclusive Green Park. We will be showcasing our proven emission reduction solutions that are currently saving our hospital customers up to 30% in energy costs. Meet with our team at CHES Fill out the simple form below and click on the RSVP button to set-up a meeting with us at the event! Helping hospitals save money while cutting emissions Our GEM steam traps and FLU-ACE heat recovery technologies help hospitals save money by reducing their fuel bills while also lowering their greenhouse gas emissions. Our proven solutions can increase the efficiency of your heating and steam system to as much as 95% with typical project paybacks (for our combined technologies) within three to five years. About CHES
The Canadian Healthcare Engineering Society (CHES) is a national professional association representing approximately 1,000 healthcare engineers and associates across Canada. CHES promotes the principle of integrated design by improved collaboration using a team approach between the professions, and providing leadership in creating more efficient management of the operation, maintenance, and safety of hospitals, their engineering systems, equipment, buildings, and allied support services. Each year CHES hosts a national conference that includes professional development through outstanding keynote presentations, workshop sessions, educational programs, and a first-class tradeshow where the latest technologies and services are displayed. Thanks to CHES' commitment to environmental stewardship and its partnership with the Canadian Coalition for Green Health Care, the national conference also features environmentally-friendly goods and services providers being showcased in their own unique "Green Park" area. As governments and businesses all over the world focus on how to meet our commitments to reduce carbon emissions under the recently ratified Paris agreement, we thought it would be worth the while to outline the impact that energy efficiency alone can have. According to the International Energy Agency ("IEA"), "there are no realistic or affordable energy and climate change policies without a sizeable and vigorous energy efficiency component." This certainly makes sense, given that more than half of the energy we use as a society is lost somewhere along the way due to inefficiencies --- meaning the potential represented by energy efficiency is larger than all of the other forms of fuel combined. So the potential is huge. But what kind of an impact has energy efficiency actually made? Well, since the year 2000, energy efficiency kept energy demand in check, despite our growing economies and population around the world. In fact, had efficiency levels not improved, energy demand in IEA member countries would have been 12% higher - surpassing the 2007 peak in 2015. In other words, as a result of improved energy efficiency, the global economy needed less energy to grow. In 2015 in IEA countries, energy efficiency alone avoided the consumption of 870 million barrels of oil, 205 million tonnes of coal, and 224 billion cubic meters of natural gas. This reduction in fossil fuel consumption resulted in a reduction of greenhouse gas emissions of about 1.5 gigatonnes. That's huge, and that was just in one year. At Thermal Energy International, we're proud of the contributions our proven energy efficiency solutions have made to reducing energy demand and carbon emissions. To date, our energy saving products installed around the world have provided estimated energy savings of more than $408 million while reducing carbon emissions by approximately 4.3 million tonnes. Manufacturers, industrial operations, hospitals and other institutions around the world can benefit from investing in energy efficiency and do their part to help reduce greenhouse gas emissions. But governments around the world must also play a central role in driving energy efficiency through policy. And, there are several reasons why governments should fully embrace energy efficiency, in addition to being the most cost-effective way to help meet their Paris commitments. These reasons include:
Energy efficiency policies aim to deliver the maximum amount of social and economic benefit from the energy we use. For that reason, they are essential tools for government action that have a huge impact on global energy demand and emissions reductions. Want to help make an impact? Share this post with your government officials, including environment ministers and economic development ministers. Plus, if you don't already, please follow us on Twitter.
Our venturi-orificed GEMTM steam traps were fitted to the feedwater heat exchangers, air heater batteries and distribution lines at one of the world’s largest soluble coffee facilities. The site manufactures coffee for UK household brands and global business as well, producing some 11 billion cups of coffee a year. Conscious that existing mechanical traps were failing, resulting in lost steam and reduced plant performance, the Utilities Manager at the site decided to investigate GEM steam traps from Thermal Energy International and asked the company to carry out a site survey. The report from Thermal Energy explained that by replacing the existing traps with the venturi orifice design, blocked steam traps could be prevented from impacting on production. Moreover, by efficiently returning condensate back to the boilers, energy savings would be made. A total of 120 steam traps are used throughout the site with the majority of mechanical steam traps having now been replaced by the GEM Trap. The GEM venturi orifice steam traps are operating over variable loads with a turndown ratio on the heat exchangers of 3:1. The company raises some 40 tonnes of steam an hour costing approximately £6.3 million a year. Although steam is utilized throughout the site, it is principally used in feedwater heat exchangers feeding the extraction sets. The site operates banks of heat exchangers which handle a total of between 6,000 and 45,000 litres of water per hour. "The GEM Traps perform well over a wide range of loads. In addition to saving downtime with maintenance and replacement traps, GEM Traps have provided us with a short term payback through energy savings from steam wastage.” - Utilities Manager Our venturi orifice designed GEM steam traps, with their 100% stainless construction, are ideal for coffee manufacturers and other food and beverage manufacturers and processors. With no moving parts, our traps do not fail like traditional, mechanical steam traps do. In fact, we offer a ten-year “no fail” performance warranty, which means increased reliability and less maintenance costs.
Learn more about how our energy efficiency solutions save food and beverage companies money while reducing their carbon emissions by visiting our food and beverage page and reading the case studies found there.
Energy efficiency is a proven investment for small and large businesses, industry, hospitals, and other organizations. Investments in efficiency help make businesses more profitable, manage rising energy costs, and can enhance a company's role as a corporate citizen. And, with high return on investment and compelling paybacks, investments in energy efficiency are also low-risk.
Improving industrial energy efficiency provides an attractive opportunity not only for significantly reducing GHG emissions, but also significant cost savings for manufacturers, processors, and pretty well any organization with a boiler plant and steam operations (including hospitals). What makes this opportunity even more attractive is that instead of investing heavily into research and development in search of new solutions, technologies that can benefit businesses and fight the climate change battle are available today. For instance, our proven energy efficiency solutions have a long track record of providing energy savings of up to 30% with compelling financial returns and paybacks of 1 - 5 years.
Why invest in energy efficiency?
Increasing competitiveness – By lowering energy costs and reducing the exposure to the risks stemming from volatile energy prices, companies can become profitable and operate their businesses more efficiently. With between 20 to 50% of all industrial energy input being lost as waste heat in the form of hot exhaust gases, cooling water, and heat lost from hot equipment surfaces and heated products, large cost saving opportunities and increased productivity can be achieved by companies who can use energy more efficiently
Improve the operating performance of your building – When building systems are properly operated and maintained, they work more reliably and efficiently, require fewer repairs, and last longer. Improving companies’ corporate image – Reduce the greenhouse gas emissions that contribute to climate change and demonstrate your organization's corporate commitment to the environment at the same time. By positioning themselves at the forefront of efforts to develop a green economy, companies that engage in energy efficiency activities can achieve significant intangible benefits associated with a positive awareness of their brand. We just wrapped up three days in beautiful Las Vegas at the 2017 AHR Expo --- the largest HVACR show and marketplace in the world. The AHR Expo, which started 85 years ago as a heating and ventilation show, has grown into the HVACR event of the year and is held in major cities across the U.S.
The show was well attended by HVACR professionals serving commercial, industrial, residential and institutional markets. The event provided us with an excellent opportunity to showcase our best-in-class energy efficiency solutions, providing us with good exposure to contractors, engineers, OEMs, distributors and other industry professionals attending the Expo searching for new products and services. On November 30, 2016, the European Union’s Commissioner for Climate Actions & Energy, Miguel Arias Cañete, announced the details of a major clean energy package. Front and center in the plan are the EU’s new target of an at least a 30% increase in energy efficiency compared with 1990 levels. That is up from a pre-existing target of 27%.
The strategy is intended to help the EU to become less dependent on energy imports, create jobs and reduce emissions that contribute to climate change. “Europe is on the brink of a clean energy revolution,” Miguel Arias Cañete told a press conference in Brussels. “And, just as we did in Paris, we can only get this right if we work together.” The bloc’s vice president for energy union, Maroš Sefcovic added: “This is really something of a transformational nature that we are proposing – perhaps the biggest since the central power systems were built in Europe.” The commission says that the new package’s benefits include a €177 billion ($252 billion Canadian) mobilization of public and private investment per year in the next decade, which is expected to create as many as 900,000 new green tech jobs and spur a 1% increase in GDP.
Our President and CEO, William Crossland, and a few of our team from Thermal Energy International are participating in the Canadian Energy Efficiency Alliance’s 2016 Day on the Hill: Meetings that Matter, in Ottawa, Ontario. Thermal Energy has also sponsored the event.
The event is an opportunity for Mr. Crossland and our team to meet with government officials and national decision-makers to discuss our energy efficiency solutions and how they help address climate change. Key decision makers attending include:
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