Ottawa’s Thermal Energy receives $1.2M follow-on order from Fortune 500 customer

Thermal

Ottawa cleantech firm Thermal Energy International continues to capture significant revenues from a large recurring customer, this week announcing its third substantial follow-on order from a Fortune 500 Food and Beverage conglomerate in the past 12 months.

Thermal Energy (TSX-V:TMG) said Tuesday it has received a $1.2 million order for another heat recovery system. Combined with two other orders from last summer, the Ottawa-based firm has received $4.5 million in orders from this customer in the past year.

In addition, the firm says it has installed its steam traps at 28 of the customer’s sites. CEO William Crossland says all of the customer activity has been concentrated on a single geographic area to date, with the potential of expansion to the client’s other sites around the globe.

“With our products’ wide applications in the food and beverage industry, this customer continues to choose Thermal Energy to help them reduce their energy costs while lowering their greenhouse gas emissions,” he said.

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.

Thermal Energy expects its latest installation to save the unnamed customer $245,000 annually in utility payments and reduce the site’s greenhouse gas emissions by 2,085 tonnes per year.