Thermal Energy International, Inc., has received a $1.7 million order from a major hospital group for a heat recovery system. The company, a provider of energy efficiency and emission reduction solutions to the industrial and institutional sectors, is headquartered in Ottawa, Ontario.
The project is expected to be completed and revenue earned within six months, according to a press release issued by the company.
“This is the third heat recovery order received from this customer since they signed a corporate level supply agreement with Thermal Energy in July of 2015,” said William Crossland, CEO of Thermal Energy. “This customer has a number of other hospitals and healthcare facilities that could benefit from our products. And, as this customer and our other hospital customers are aware, the savings that can be realized using our proven energy efficiency technologies are substantial.”
This latest heat recovery project is anticipated to provide this customer with annual energy savings of approximately $403 thousand, resulting in a simple payback of approximately four years.