This $5.8 million contract was signed following the successful completion of the funded project development phase pursuant to a project development agreement signed on January 24, 2011. Over the last four months, Thermal Energy together with Fibrek identified, developed and designed the optimum heat recovery project for Fibrek's Saint-Félicien mill. Thermal Energy will install the FLU-ACE® heat recovery solution on the Saint-Félicien pulp machine. The system is designed to have an installed heat recovery capacity of 57 GJ/hour, and this recovered energy, equivalent to over 24,000 kg/hr of steam, will be used to save steam in various areas of the mill, making this steam available to drive turbines to make green electricity.
"This is the largest single order in the Company's history, and one of several projects completed in the Pulp and Paper industry over the last several years, which is evidence of the strong technical capabilities Thermal Energy has developed in this sector. Projects such as this one, which can often leverage government funding mechanisms, are consistent with our strategy to develop and implement large scale turnkey energy efficiency projects", said Thermal Energy President and CEO William Crossland.
TEI will commence the project immediately and expect to complete the project and recognize the majority of revenue over the next four quarters.
About Thermal Energy International Inc.
Thermal Energy International Inc. is an innovative cleantech company providing a variety of proprietary and proven energy efficiency, emission reduction, water efficiency, and bioenergy products and solutions to the industrial, commercial and institutional markets worldwide. 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 significant financial and environmental benefits to our customers. Thermal Energy's products include; GEM® - Steam traps and condensate return systems, FLU-ACE® - Direct contact condensing heat recovery, and Dry RexTM- Low temperature biomass drying systems. These award winning products have an excellent track record of longevity, proven reliability and performance and have been shown to provide significant energy savings, reduced GHG emissions, improved water efficiency, lower maintenance costs, improved product quality and increased production efficiency. Thermal Energy International Inc. has offices in Ottawa, Canada, Bristol, UK and Guangzhou, China.