Latest news with #ThermalEnergyInternationalInc
Yahoo
22-05-2025
- Business
- Yahoo
Thermal Energy Announces Normal Course Issuer Bid
Ottawa, Ontario--(Newsfile Corp. - May 22, 2025) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, today announced its intention to undertake a Normal Course Issuer Bid (the "Bid"). Thermal Energy is launching the Bid because it believes that, from time to time, the market price for the common shares of the Company does not reflect the underlying value of its business and its future prospects. The Board of Directors and Senior Management of Thermal Energy are of the opinion that under those circumstances the purchase of its shares at the prevailing market price may be in the best interest of the Company and its shareholders. The Bid will consist of the purchase on the public market, from time to time, if and to the extent Thermal Energy considers it advisable, of up to 8,655,715 common shares, representing approximately 5.0% of the outstanding common shares of Thermal Energy and approximately 5.5% of the outstanding common shares excluding shares that are known to be held by insiders and their associates and affiliates. There are currently 173,114,305 common shares of Thermal Energy issued and outstanding. The period during which purchases may be made under the Bid will begin on May 22, 2025, and will extend until May 21, 2026, or earlier if the maximum number of shares sought in the Bid has been obtained. Thermal Energy reserves the right to terminate the Bid earlier if it feels it is appropriate to do so. All shares acquired under the Bid will be returned to treasury for cancellation. The last normal course issuer bid conducted by Thermal Energy was launched in November 2019 and was active until March 2020, resulting in a total of 1,733,000 common shares being purchased by the Company. Common shares acquired by Thermal Energy under the Bid will be purchased at the market price at the time of purchase and will be purchased on behalf of Thermal Energy by Beacon Securities Limited, Thermal Energy's broker in connection with the Bid. All acquisitions will be made in accordance with the rules and policies of the TSX Venture Exchange. Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox. ENDS For media enquiries, contact:Thermal Energy International 613-723-6776UK: +44 (0)117 917 2179Marketing@ For investor enquiries:William CrosslandPresident and CEOThermal Energy International Inc.613-723-6776Investors@ Notes to editors About Thermal Energy International Inc. Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback. Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers. Thermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at or company website at and follow us on Twitter at Cautionary Statements This press release contains forward-looking statements relating to and, amongst other things, based on management's expectations, estimates and projections. Statements relating to the Company's intention to acquire shares pursuant to the Bid and the potential number of shares that might be acquired 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. The Company's performance, available cash and stock price, some of which are outside of the Company's control, could all impact the Company's intention to acquire shares pursuant to the Bid and could result in the Company not acquiring shares or, in the most serious cases, terminating the Bid. 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. To view the source version of this press release, please visit
Yahoo
17-04-2025
- Business
- Yahoo
Thermal Energy International to Report Third Quarter 2025 Financial Results on April 29
Ottawa, Ontario--(Newsfile Corp. - April 17, 2025) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, will release its fiscal 2025 third quarter financial results prior to market open on Tuesday, April 29, 2025. Management will host an earnings conference call and webcast to review the financial results at 8:30 a.m. ET the same morning. A question-and-answer session will follow management's prepared remarks, at which time qualified equity analysts will be able to submit questions via the webcast. Joining the Webcast via Microsoft Teams A live webcast of the earnings call with a slide presentation will be available at You may join the webcast via MS Teams on your computer, mobile app or room device. Please join the webcast approximately 15 minutes prior to the earnings call to ensure adequate time for registration and admittance to the webcast. For more information on joining an MS Teams meeting, visit: Dial-in Instructions (audio only) For anyone unable to join via MS Teams, there will also be a dial-in option to join the conference call by phone. To access the conference call via dial-in, please use the information below. Please dial-in approximately 5 to 10 minutes prior to the earnings call to help ensure admittance. Calling from Canada: +1 437-703-4481Find a local number: Conference ID: 708 120 870# Thermal Energy's financial statements and management's discussion and analysis will be filed on SEDAR+ at following the release, and will be available on the same day on Thermal Energy's website at Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox. ENDS For media enquiries contact:Thermal Energy International 613-723-6776UK: +44 (0)117 917 2179Marketing@ For investor enquiries:William CrosslandPresident and CEOThermal Energy International Inc.613-723-6776Investors@ Notes to editors About Thermal Energy International Inc. Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback. Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers. Thermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at or company website at and follow us on Twitter at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. # # # To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Thermal Energy Announces $1 Million Heat Recovery Expansion Project with Leading Multinational Food & Beverage Company
Expansion project at American site to yield further reductions in natural gas consumption and CO2 emissions Ottawa, Ontario--(Newsfile Corp. - April 16, 2025) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, has received an order from one of its largest customers to expand the existing heat recovery system installed by Thermal Energy in 2019. This turnkey heat recovery expansion project is valued at approximately $1 million. All figures are shown in CAD. "We are pleased to announce an expansion project with such a valued, long-term customer," said William Crossland, CEO of Thermal Energy International. "We completed a turnkey FLU-ACE® Heat Recovery Project at this U.S. location in 2019. Seeing the benefits of that project, the customer asked us to work in partnership with them to develop this expansion project to recover additional waste heat at this multi-boiler site. To date, we have successfully completed 11 heat recovery projects at 10 of this customer's sites around the world and installed 4,000 GEM traps across 60 of their sites. This relationship continues to develop, and many additional opportunities still remain at those sites as well as at the more than 200 of their other sites we have yet to penetrate." This turnkey project includes the design, construction, startup commissioning and training for the complete system including all mechanical, electrical and controls required for a fully functional heat recovery and distribution system. The expansion project is expected to result in a further 14,500 MMBTU reduction in natural gas consumption and an estimated reduction of 767 tons of CO2 emissions per year. The project is expected to be completed and revenue earned within 9 to 12 months. Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox. ENDS For media enquiries contact:Thermal Energy International 613-723-6776UK: +44 (0)117 917 2179Marketing@ For investor enquiries:William CrosslandPresident and CEOThermal Energy International Inc.613-723-6776Investors@ Notes to editors About Thermal Energy International Inc. Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback. Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers. Thermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at or company website at and follow us on Twitter at Cautionary Statements 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, the timing of revenues to be received by the Company, the expectation that orders in backlog will become revenue, the anticipated benefits of the Company's current efforts at training and business improvement efforts, opportunities for growth, the Company's belief that it can capitalize on opportunities, the size of markets and opportunities open to the Company. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International's products are based on the Company's own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company's products, statements about the expected environmental effects and cost savings associated with the Company's products and statements about the Company's ability to cross-sell its products and sell to more sites 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. Any customer's willingness to purchase additional products from the Company and whether orders in the Company's backlog as described above will turn into revenue is dependent on many factors, some of which are outside of the Company's control, including but not limited to the customer's perceived needs and the continuing financial viability of the customer. The Company disclaims any obligation to publicly update or revise any such statements except as required by law. Readers are referred to the risk factors associated with the Company's business as described in the Company's most recent Management's Discussion and Analysis available at # # # 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. To view the source version of this press release, please visit
Yahoo
11-02-2025
- Business
- Yahoo
Thermal Energy Announces its Largest Engineering Contract to Date - a $500,000 Contract from Another Leading Pharmaceutical Company
Canadian cleantech firm's solutions positioned as low-hanging fruit for multinational pharmaceutical companies looking to Ottawa, Ontario--(Newsfile Corp. - February 11, 2025) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, has received a contract from one of the world's largest multinational pharmaceutical companies to provide detailed engineering services for a potential heat recovery project at one of the pharmaceutical company's sites. After receiving orders for three major heat recovery projects from a different pharmaceutical company, this is the second major pharmaceutical company to engage Thermal Energy for heat recovery projects. This contract, valued at $500,000, is the largest engineering services project Thermal Energy has received in its history. All figures are shown in CAD. "We are excited to have received such a significant engineering order from another world-leading pharmaceutical company," said William Crossland, CEO of Thermal Energy International. "The engineering to be done under this contract is much more extensive than the level we would provide under one of our project development agreements or PDAs. In fact, we signed a PDA with this company approximately a year ago and based on the outcome of the PDA the client has retained us to complete the full detailed engineering for the project. Typically, customers prefer the detailed engineering to be part of a total turn-key fixed priced project agreement but in this case the customer's preference is to approve the project in stages. This is also a lower risk option for Thermal Energy because firm pricing will not be provided until the detailed engineering is completed." "Like many of its peers, this customer has significant carbon emission reduction targets and is aligned with the United Nation's Race to Zero campaign, which is a global campaign rallying non-state actors - including companies - to take the necessary actions to halve global emissions by 2030." "Our proven solutions align perfectly with multinational pharmaceutical companies with their extensive use of low-grade heat, strong and public commitments to reducing greenhouse gas emissions, and financial capacity to drive meaningful carbon reduction initiatives. Thermal Energy has helped several well-known pharmaceutical companies in North America and Europe reduce their energy costs and carbon dioxide emissions with GEM steam traps and HeatSponge boiler economizers. Yet, other than the three multi-million-dollar heat recovery projects we announced previously with a different multinational pharmaceutical company, this sector remains mostly untapped in terms of larger scale heat recovery opportunities." Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox. ENDS For media enquiries contact:Thermal Energy International 613-723-6776UK: +44 (0)117 917 2179Marketing@ For investor enquiries:William CrosslandPresident and CEOThermal Energy International Inc.613-723-6776Investors@ Notes to editors About Thermal Energy International Inc. Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback. Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers. Thermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at or company website at and follow us on Twitter at Cautionary Statements 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, the timing of revenues to be received by the Company, the expectation that orders in backlog will become revenue, the anticipated benefits of the Company's current efforts at training and business improvement efforts, opportunities for growth, the Company's belief that it can capitalize on opportunities, the size of markets and opportunities open to the Company. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International's products are based on the Company's own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company's products, statements about the expected environmental effects and cost savings associated with the Company's products and statements about the Company's ability to cross-sell its products and sell to more sites 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. Any customer's willingness to purchase additional products from the Company and whether orders in the Company's backlog as described above will turn into revenue is dependent on many factors, some of which are outside of the Company's control, including but not limited to the customer's perceived needs and the continuing financial viability of the customer. The Company disclaims any obligation to publicly update or revise any such statements except as required by law. Readers are referred to the risk factors associated with the Company's business as described in the Company's most recent Management's Discussion and Analysis available at # # # 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. To view the source version of this press release, please visit
