Fortune 500 Food & Beverage Leader Orders $750,000 Heat Recovery System from Thermal Energy International

OTTAWA, ON / ACCESSWIRE / April 29, 2015 / Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX Venture: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors world-wide, today announced it has received a purchase order valued at approximately $750 thousand from a world-leading food and beverage company. The purchase order is for one of Thermal Energy’s proprietary FLU-ACE(R) heat recovery systems. This represents the fifth heat recovery system to be purchased by this customer.

“This order is an example of our early success in working with target customers at the corporate level,” said William Crossland, CEO of Thermal Energy. “This is a world-leading multinational customer with many facilities around the world. We have now sold our heat recovery systems to five of this customer’s sites, and our GEMTM steam traps have been installed at nine of their sites. The customer is pleased with our installations to date, however our overall penetration with their sites remains quite low, leaving lots of opportunities for cross-selling and other repeat business.”

Waste heat recovered in the FLU-ACE(R) will be used to displace process steam demand by preheating reverse osmosis water. The system to be installed at this site is expected to result in natural gas savings of 13% and water savings of 2.1 million gallons.

The food and beverage conglomerate has revenues of more than $50 billion and more than 200,000 employees.

With this order Thermal Energy’s order backlog currently stands at approximately $5.5 million of which approximately $0.5 million is related to long-term contracts and is not expected to be reflected in revenue within the next 12 months. Thermal Energy includes in “order backlog” all purchase orders received for product or services that have not yet been reflected as revenue in the Company’s published financial statements.

About Thermal Energy International Inc.

Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors worldwide. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.

Thermal Energy is also a fully accredited professional engineering firm, and can offer advanced process and applications engineering services.

By providing a unique mix of proprietary products together with process, energy, environmental, and financial expertise Thermal Energy is able to deliver unique and significant financial and environmental benefits to our customers.

Thermal Energy’s products include; GEMTM – Steam traps, FLU-ACE(R) – Direct contact condensing heat recovery, and Dry-RexTM – Low temperature biomass drying systems.

Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Italy and China. The Company‘s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG.

For more information, visit our website at www.thermalenergy.com and follow us on Twitter at http://twitter.com/GoThermalEnergy.

William Crossland

President and CEO
Thermal Energy International Inc.
613-723-6776
bill.crossland@thermalenergy.com

Trevor Heisler

Investor Relations
Heisler Communications
416-500-8061
trevor@heislercommunications.com

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This press release contains forward-looking statements relating to, and amongst other things, based on management’s expectations, estimates and projections, the anticipated effectiveness of the Company’s products and services and the timing of revenues to be received by the Company. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company’s products and statements about the expected environmental effects and cost savings associated with the Company’s products are forward looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, some of which are outside of the Company’s control, could cause events and results to differ materially from those stated. Fulfilment of orders, installation of product and activation of product could all be delayed for a number of reasons, some of which are outside of the Company’s control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Actions taken by the Company’s customers and factors inherent in the customer’s facilities but not anticipated by the Company can have a negative impact on the expected effectiveness and lifespan of the Company’s products and on the expected environmental effects and cost savings expected from the Company’s products. Additional heat recovery and GEM(R) steam trap projects being developed by the Company may not result in orders for the Company’s products. The Company disclaims any obligation to publicly update or revise any such statements except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Thermal Energy International Inc.

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