Thermal Energy International Inc. has received a $3.7 million turn-key heat recovery order from a multinational branded and private label food and drink producer. All figures are shown in CAD. This turnkey heat recovery project will recover waste energy from six steam boilers at the site of one of the customer's canned foods production facilities.

The project is expected to provide annual natural gas savings of approximately $1.3 million while reducing CO2 emissions by 3,078 tonnes per year, resulting in additional financial savings of about $313 thousand per year based on approximately $102 per tonne. The project is expected to provide a payback of approximately 2.3 years, or 1.6 years after receipt of IETF grant funding. The project is expected to be completed and revenue earned within 12 months.