Ottawa-based Thermal Energy scores $1.8M dairy industry deal

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A cleantech project for a new client in the dairy industry has Ottawa’s Thermal Energy International milking some recently acquired technology for all it’s worth.

Thermal Energy develops energy-efficiency solutions to reduce large industrial customers’ heating bills, operating largely in the food and beverage sector. The local cleantech firm announced Monday it has been commissioned by a “major U.S. dairy group” to design and implement a heat recovery system valued at $1.8 million.

Thermal said in a release it will use its own proprietary solutions alongside the “HeatSponge” technology from its acquisition of Boilerroom Equipment last summer in the project, noting that “neither company could have delivered a project of this size and scope alone.”

“As we gain access to new technologies, such as BEI’s HeatSponge, we are strategically placed to apply our engineering expertise in new ways,” said CEO William Crossland in a statement.

After reporting its second-quarter results at the end of January, Thermal Energy said its revenues are up 76 per cent year-over-year thus far in fiscal 2019.