Canadian cleantech company, Thermal Energy International, has a super-efficient cogeneration solution that combines the Company's proprietary FLU-ACE heat recovery technology and engineering expertise with existing power generation technologies to provide the highest efficiency combined heat and power (CHP or cogeneration) solution available.  

 
Key Benefits of a FLU-ACE Augmented Cogeneration Project:

• Up to 70% reduction in electricity costs;
• Up to 95% energy utilization efficiency;
• 15% to 20% natural gas energy savings;
• Additional 15% to 20% reduction in greenhouse gas (GHG) emissions compared to typical CHP systems;
• Verifiable emission reduction credits (ERCs)
• Typical net project payback of two to five years.

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​Thermal Energy has already applied its FLU-ACE to a number of cogeneration projects on a retrofit basis and is now offering a complete turnkey design-build cogeneration plus FLU-ACE solution. The Company will initially be targeting some of its key corporate accounts with whom they have strong relationships as well as specific regional markets where attractive incentive funding is available for the design and implementation of cogeneration projects.

Blog Post: Improving Energy Utilization with Cogeneration

CleanTechies Article: ​Super-Efficient Cogeneration Solution Reduces Electricity Costs by up to 70%

​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 worldwide. 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.

Ottawa-based cleantech company, Thermal Energy International, reported its financial results for the three months (Q2) and six months (YTD) ended November 30, 2016. All figures are in Canadian dollars.

Highlights:
 

• Revenue grew 23% for Q2 and 3% YTD;
• Gross profit increased 19% for Q2 and 25% YTD;
• YTD EBITDAS, net income and adjusted cash flow increased $606 thousand, $522 thousand and $446 thousand respectively;
• Order backlog was $7.1 million as at January 19, 2017 compared to $6.9 million a year ago.

 
“We had a strong first half of fiscal 2017 and have a healthy order backlog,” said William Crossland, CEO of Thermal Energy. “Following the impressive gross profit increase we achieved in the first quarter, both our heat recovery and GEM™ sales were up in the second quarter and we continued to improve our profitability, with significant increases to gross profit, EBITDAS and our bottom line. Importantly, our market fundamentals are as strong as ever and we have only just begun to build our business in our key markets.”
 
Q2 2017 Financial Review:
 
Revenue for the quarter grew 23% to $3.1 million compared to $2.5 million for the second quarter of last year. Sales of heat recovery systems increased 7%, while GEM sales were up 34% compared to the same quarter a year ago.
 
Gross profit for the quarter increased 19% to $1.9 million compared to $1.6 million for the second quarter of last year. As a percentage of sales, gross profit for the quarter was 62.7% compared to 64.6% in the second quarter a year ago.
 
The Company achieved significant increases in EBITDAS and net income for the quarter. EBITDAS for the quarter was $285 thousand compared to $84 thousand a year earlier. Net income for the quarter improved to $175 thousand from $26 thousand in the second quarter of last year.
 
Adjusted operating cash flow (defined as net income for the period, plus items not involving cash, plus lease payments received) for the quarter was $274 thousand compared to $85 thousand for the same period last year.
 
As at November 30, 2016, the Company had a net cash balance of $1.5 million. With cash balances and unused borrowing capacity combining for a total of approximately $1.9 million, management believes that it has sufficient capital resources to fund existing operations and anticipated capital requirements for the remainder of fiscal 2017.
 
Full financial results including Management’s Discussion and Analysis and accompanying notes to the financial results, are available on www.SEDAR.com and www.thermalenergy.com.
 
Order and Backlog Summary
 
The Company had an order backlog of approximately $7.1 million as at January 19, 2017, compared to $6.9 million a year ago. The current order backlog is comprised of several heat recovery orders announced during the first half of fiscal 2017, including $2.8 million remaining in orders from three hospital customers, $1.7 million from a leading ethanol producer, $644 thousand remaining from a global brewing company, and $150 thousand remaining from a global mining and materials company.
 
Previously announced GEM orders included in the current backlog are $194 thousand remaining in orders from a leading performance materials company, and $147 thousand from a hospital. The current backlog also includes a $95 thousand GEM order from a Fortune 500 food and beverage leader, which was not previously announced.
 
The Company includes in “order backlog” the value of projects in respect of which purchase orders have been received but have not yet been reflected as revenue in the Company’s published quarterly financial statements.
 
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 can offer advanced process and applications engineering services.
 
By providing a unique mix of proprietary products together with process, energy, environmental, and financial expertise Thermal Energy is able to deliver unique and significant financial and environmental benefits to our customers. 
 
Thermal Energy's 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, 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.