- Thermal Energy (TMG) has received additional GEM orders totalling approximately $1.5 million from a leading snack manufacturer
- This brings the total project up to a combined 25 sites for $4 million
- Thermal Energy is a supplier of proprietary, energy efficiency and emissions reduction solutions to the industrial and institutional sectors
- Thermal Energy International Inc. (TMG) is up 9.09 per cent, trading at C$0.12 per share at 2:35 pm ET
Thermal Energy (TMG) has received additional GEM orders totalling approximately $1.5 million from a leading snack manufacturer.
This is in addition to the $2.5 million orders announced last week from this customer for the supply and installation of GEM steam traps at 16 sites. The customer has now extended its multi-site GEM project to an additional 9 sites. This brings the total project up to a combined 25 sites for $4 million.
GEM steam traps are sold as custom equipment. The customer’s on-site maintenance team often installs it prior to commissioning by Thermal Energy. However, for this customer, Thermal Energy will oversee the full scope of installation work.
The retrofit of GEM Traps is a cost-effective energy efficiency measure that will reduce water and energy consumption. It also reduces maintenance costs and greenhouse gas emissions. This $4 million project will deliver combined annual utility and water savings of over $1.4 million, annual CO2e reduction of 8,066 tonnes and save more than 17 million gallons of water per year.
William Crossland, CEO of Thermal Energy, commented on the news.
“The expansion of this project to an additional 9 sites is further evidence of the immense trust our multinational customers place in us and our technologies to quickly and easily deliver reliable results. Our customers keep coming back to us because we are the quickest, easiest, and lowest-risk way for them to achieve their carbon and energy reduction goals. We get projects done on time, on budget and with guaranteed performance.”
The company expects to complete the project and earn revenue within nine months.
Thermal Energy is a supplier of proprietary energy efficiency and emissions reduction solutions to the industrial and institutional sectors.
Thermal Energy International Inc. (TMG) is up 9.09 per cent, trading at C$0.12 per share at 2:35 pm ET.
