Canadian cleantech company, Thermal Energy International, has received a $1.7 million order from a major hospital group for one of the company’s proprietary FLU-ACE® heat recovery systems. The project is expected to be completed and revenue earned over the next six months.
“This is the third heat recovery order received from this customer since they signed a corporate level supply agreement with Thermal Energy in July of 2015,” said William Crossland, CEO of Thermal Energy. “This customer has a number of other hospitals and healthcare facilities that could benefit from our products. And, as this customer and our other hospital customers are aware, the savings that can be realized using our proven energy efficiency technologies are substantial. In addition to freeing up funds that can be reallocated to other critical areas, our products also make hospitals more environmentally friendly by reducing their carbon emissions significantly.”
This latest heat recovery project is expected to provide this particular hospital with annual energy savings of approximately $403 thousand, resulting in a simple payback of approximately four years. Thermal Energy’s FLU-ACE heat recovery technology effectively recovers the waste heat from a hospital's boiler operations and uses it to preheat a heat sink – this could be water for space heating, domestic hot water, boiler feed water, or outside air heating. By replacing the existing load with the recovered energy, many hospitals have been able to realize savings of 20% on their fuel bills.
Thermal Energy International has proven energy efficiency solution that have delivered real results to hospitals and other customers across a large number of industries. The company’s GEM™ stream traps and FLU-ACE heat recovery technologies have helped hospitals across North America and Europe save more than $80 million while reducing their greenhouse gas emissions by over 540,000 tonnes. Several case studies are available on Thermal Energy’s website at www.thermalenergy.com/hospitals.html.
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.