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Thermal Energy International Inc. (TSX-V:TMG) (www.thermalenergy.com) (the "Company" or "Thermal Energy") is pleased to announce new GEM Condensate Return System contracts of notable interest. The company has recently secured several important orders in new developing territories for the GEM business including the Middle East and China.
The company has received an order from the Kuwait National Petroleum Corp as part of a conversion to GEM trap technology at the companies Mina Al-Ahmadi refinery located in Kuwait. The order is in excess of $450,000 CAD with implementation expected early in the first quarter of FY 2010.
In addition, the company is pleased to report two new orders in China from a European based global pharmaceutical corporation as part of its world-wide strategy to upgrade to GEM technology at their plants. These orders are for two of the company's plants located in North East China, and combined are worth in excess of $200,000 CAD.
The company is also pleased to announce that it took part in a recent Energy Efficiency and Emission Reduction Technology Exchange Conference held in Nanchong, Chongqing China as a keynote presenter. Leaders from over 40 of the largest industrial companies from throughout Sichuan Province attended. During the conference, the company signed two letters of intent with Sichuan Yanjing Beer and Yongshen Chemicals respectively for trial implementations of the GEM Condensate Return system at their manufacturing sites in Chongqing region. The following is a link to the Nanchong Municipal Government issued news article covering the event: www.nczj.gov.cn/onews.asp?id=429 .
NOTE: This press release may contain forward-looking statements relating to, and amongst other things, based on management's expectations, estimates and projections. Such statements including those about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors could cause results to differ materially from those stated. The Company disclaims any obligation to publicly update or revise any such statements, except as required by applicable securities laws.
About Thermal Energy
Thermal Energy International Inc. is an innovative technology company providing custom energy and emission reduction, and bioenergy solutions. Headquartered in Ottawa, Canada, TEI is a designer, design build developer, fabricator, owner, operator and supplier of proprietary and patented energy conservation, renewable energy and environmental technology solutions. Thermal Energy is a fully accredited professional engineering firm, and offers advanced process and applications engineering services. The Company is a proud member of the Chicago Climate Exchange (CCX). FLU-ACE(TM), DRY-REX(TM), THERMALONOx(TM), THERMAL AUD(TM) and GEM(R) are trademarks of Thermal Energy International.
To find out more about Thermal Energy International Inc. (TSX-V: TMG), visit our website at http://www.thermalenergy.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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SOURCE: Thermal Energy International Inc.
Tim Angus, President and CEO, (613) 723-6776
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