A repeat customer is turning back to Thermal Energy International for its energy savings solutions, earning the Ottawa-based firm another lucrative contract.
Thermal Energy signed a $1.32-million deal with an existing hospital client that will see the firm install its FLU-ACE heat recovery systems in the facility. This particular hospital already runs Thermal Energy’s GEM steam trap system, and other hospitals in the same group are also running the Ottawa company’s solutions.
The clean-tech firm says in a release that the hospital is expected to save $950 million annually with the implementation of its heat recovery systems, and reduce its carbon emissions by 1,738 tonnes each year.
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Thermal Energy (TSX-V:TMG) does not typically name its customers, but its clientele includes numerous hospitals and other industrial clients from the food and beverage, pulp and paper and pharmaceutical sectors to name a few.
The company is coming off its most successful year yet, announcing last month that it had achieved record revenues in fiscal 2017.