Cleantech firm Thermal Energy International (TSX-V:TMG) continues to score lucrative contracts.
The Ottawa-based company, which develops large-scale energy efficiency systems, announced this week it has landed a $2.3-million contract to install two of its proprietary heat-recovery systems at the European facilities of a multinational animal nutrition and agriculture company.
This will be Thermal’s second and third heat-recovery system installations at the unnamed customer’s production sites. The repeat customer also has the firm’s steam-trap systems installed at five of its sites across the world.
OBJ360 (Sponsored)
Celebrating 10 years of the Ottawa REDBLACKS
Ottawa’s CFL team is celebrating its 10 year anniversary in 2024. Roger Greenberg tells us what it took to make the CFL’s capital city team a success.
Hard Rock Casino: Experience the ultimate entertainment destination at Ottawa’s only casino
Ottawa’s Hard Rock Casino has big plans to keep you entertained all summer long!
Thermal CEO William Crossland said in a statement that the recurring business from this multinational customer speaks to the Ottawa company’s drive to become a “one-stop shop” for energy-efficiency installations.
This past year alone, Thermal Energy has announced numerous multimillion-dollar contracts with large customers, primarily in various sectors of the food and beverage industry. The firm reported second-quarter revenues of $5.2 million, an increase of 39 per cent year-over-year, with an order backlog of more than $10 million as of Jan. 29.