February 12, 2007

Thermal Energy receives its largest commercial contract for waste heat recovery

Thermal Energy International (www.thermalenergy.com) has received its second commercial U.S. contract and, at a value of over $2.5 million, the company's single largest commercial contract to date. Thermal Energy will carry out waste heat recovery and steam system improvements at a large industrial facility owned by a multinational U.S. company. The project will be the first U.S. contract to use innovative non-Flu-Ace(R) waste heat recovery technology and the company's first project to refit a steam system using the state-of-the-art GEM(R) condensate return system.

The contract stems from a detailed engineering and design study begun by Thermal Energy commenced in March 2006 at the facility, which is the largest of its kind in the world. The company designed two innovative systems. The first one will recover waste heat from oven exhausts and use it to dry manufactured products. The second system will generate steam from waste heat in the exhaust stream of an industrial glass furnace, then will use the steam for various processes within the plant.

In addition to the waste heat recovery processes, Thermal Energy will replace and retrofit the facility's condensate return system with the energy-saving GEM(R) condensate return system. This is one of the company's first large-scale contracts using new technology to which it has acquired exclusive rights in Canada and key U.S. markets.

"This project is an excellent example of what can be done to recapture some of the more that $200 billion a year in heat and energy wasted annually from plants and facilities across North America," said Thermal Energy president and CEO Tim Angus. "Many customers can achieve anywhere from 15% to 30% reductions in their soaring energy costs - and immediately join the fight against global warming with immediate cuts in greenhouse gas emissions."

In Montreal, meanwhile, the company's Flu-Ace heat recovery technology has helped Minas Basin Pulp and Power, of Hantsport, Nova Scotia, win an Energy Conservation Award from the Pulp and Paper Technical Association of Canada (PAPTAC) during the association's annual conference.

The project, implemented by Johnson Controls, is saving the company thousands of dollars a day in energy costs, as well as reducing greenhouse gases and other emissions. The Flu-Ace(R) system is being used to recover waste heat from the paper-making dryer for use in the manufacturing process to offset the mill's fuel oil consumption, which has declined by between 15 and 20%.

Thermal Energy has also won a 2006 Project Merit Award from the U.S.-based Environmental Business Journal, for the application of Flu-Ace(R) at Minas Basin, which in addition to the benefits derived by Minas Basin, also was largely responsible for the company achieving record revenues in fiscal 2006. The awards will be presented in a special ceremony at the Environmental Business Journal's fifth annual Environmental Industry Summit in Coronado, California, on February 28, 2007.

Thermal Energy International, based in Ottawa, is a designer, design-build developer, fabricator, and supplier of proprietary and patented energy conservation, renewable energy and environmental technologies and systems. In addition to its own Flu-Ace(R), ThermaLoNOx(TM), ThermaLoZOMAx(TM) and Dry-Rex(TM) trademarks, Thermal Energy International offers the GEM(R) system under exclusive license from Gardner Energy Management. More information is available on Thermal Energy's Web site, www.thermalenergy.com.

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