A few months after booking its highest-ever full-year revenues, Thermal Energy International (TSX-V:TMG) says it’s received the largest single order in the company’s history.
The $11-million contract is with a “large pulp and paper customer” Canadian pulp and paper firm Resolute Forest Products, an existing client of the firm.
The Ottawa-based firm sells equipment that captures and reuses heat from the exhaust and steam traps of large buildings, such as hospitals and industrial facilities. This helps cut its customers’ energy bills and reduces emissions.
OBJ360 (Sponsored)
Canada’s judge shortage doesn’t have to negatively impact your family – or your business
Arbitration has always been a critical part of Canada’s legal system, but lately it has been getting more attention due to the judge shortage.
Oakview Capital Inc. is the solid option for your real estate investment portfolio
You know a real estate investment is sound when your advisors put their own money behind it.
In the case of Resolute Forest Products, the $11-million installation will cut the client’s natural gas use at its Thunder Bay mill by 35 per cent and eliminate some 43,000 metric tonnes of greenhouse gas emissions, according to Thermal Energy, which says that’s the equivalent of removing 9,208 passenger vehicles from the road.
“Pulp and paper is one of the most energy-intensive sectors and our energy efficiency solutions represent a win-win scenario,” Thermal Energy CEO William Crossland said in a statement.
The company’s shares were up two cents, or 25 per cent, to 10 cents per share this week on the TSX Venture Exchange.
