Thermal Energy scores $820K hospital contract

Thermal Energy

Ottawa-based clean-tech firm Thermal Energy International is continuing to make inroads into the health-care sector, following an $820,000 contract from a teaching hospital.

The local company, which does not typically name its clients, says the contract involves its heat recovery technology. In simple terms, its equipment 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.

The latest deal comes three months after Thermal Energy signed the largest contract in the company’s history, an $11-million agreement with Resolute Forest Products for its Thunder Bay' mill.

In late January, Thermal Energy reported a 21 per cent increase in second quarter revenues.