Latest news with #ThermalEnergy
Yahoo
03-07-2025
- Business
- Yahoo
Thermal Energy Announces Additional $4.1 Million Contract with Global Pharmaceutical Leader
Canadian cleantech firm hired to design, implement and commission a turn-key heat recovery project at one of the Fortune 500-listed customer's U.S. manufacturing facilities Ottawa, Ontario--(Newsfile Corp. - July 3, 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, is pleased to announce that it has received an additional order valued at $4.1 million for a previously announced heat recovery project for a leading multinational pharmaceutical company. This latest order calls for Thermal Energy to design, fully implement, and commission the project on a turn-key basis, bringing the total value to Thermal Energy for this project to $5.6 million. All figures are shown in CAD. "This implementation and commissioning contract follows a series of key achievements and deepening collaboration between Thermal Energy and this customer," said William Crossland, CEO of Thermal Energy International. "Originally stemming from a Project Development Agreement, we signed a Master Services Agreement with the customer in December 2024. On February 11th of this year, we announced a $500 thousand contract to complete the detailed engineering for this project – representing the largest engineering contract in our history. On June 26th, we announced the $1 million custom equipment order for this project. We are excited to now be asked to bring this project to completion and operational launch. "This is an important project for us and the customer. We look forward to advancing our strategic partnership focused on energy efficiency and decarbonization goals. This project and our suite of solutions align with the customer's ambitious sustainability strategy and their commitment to the United Nations' Race to Zero campaign. Finally, this leading pharmaceutical company has several manufacturing sites around the world that could benefit from our technologies." Once fully commissioned, the heat recovery system is expected to reduce the site's natural gas consumption and associated CO₂ emissions by 12.5%, resulting in up to 2,038 metric tons of CO₂ emissions eliminated annually. The revenue from this order is expected to be earned within twelve 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. Fulfillment 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
Globe and Mail
26-06-2025
- Business
- Globe and Mail
Thermal Energy Secures $1 Million Follow-on Order for Heat Recovery Project from Global Pharmaceutical Leader
Canadian cleantech firm to provide equipment for heat recovery project at one of the Fortune 500-listed customer's U.S. manufacturing facilities Ottawa, Ontario--(Newsfile Corp. - June 26, 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 a custom equipment order valued at just over $1 million from one of the world's largest pharmaceutical companies. This order stems from a Project Development Agreement, which led to Thermal Energy's largest engineering contract to date, announced on February 11, 2025. The equipment ordered includes the Company's proprietary FLU-ACE® Heat Recovery System. All figures are shown in CAD. "We are proud to continue our partnership with this global pharmaceutical leader and further support their sustainability initiatives through our proven heat recovery technology," said William Crossland, CEO of Thermal Energy International. "As we disclosed back in February, this customer prefers to approve this project in stages. Having already completed the $500,000 in detailed engineering for this project, we are pleased to receive this follow-on order of $1 million for equipment, bringing our total order value to date to approximately $1.5 million for this project. This latest order is also a testament to the strength of our engineering expertise and the reputation our proven technologies have for driving energy efficiency gains and reducing carbon emissions. Our solutions align well with this customer's significant carbon emission reduction targets and commitment to the United Nation's Race to Zero campaign. We look forward to fostering a strong relationship with this customer, which has several manufacturing sites around the world that have the potential to benefit from our technologies." The proprietary equipment ordered, is part of a multi-stage heat recovery project that, when completed, is expected to reduce the site's natural gas usage and related CO₂ emissions by 12.5%, eliminating up to 2,038 metric tons CO₂ per year. ENDS 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.
Miami Herald
18-06-2025
- Business
- Miami Herald
Brenmiller Energy Comments on Reverse Share Split Ahead of Expected Near-Term Milestones
ROSH HA'AYIN, IL / ACCESS Newswire / June 18, 2025 / Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (NASDAQ:BNRG), a leading global provider of Thermal Energy Storage ("TES") solutions for industrial and utility customers, today issued a letter from its Chief Executive Officer, Avi Brenmiller. To Our Shareholders, As previously announced, today at the close of trading on the Nasdaq Capital Market, Brenmiller Energy will implement a reverse share split-a strategic and proactive decision made to protect and preserve shareholder value as we approach a critical period of execution on our business objectives. This decision followed extensive internal consideration about the timing and impact of a reverse share split. Ultimately, we determined that the best course of action was to be decisive today, which will allow us to remain focused on what matters most in the days ahead: delivering on our milestones. The value that Brenmiller Energy has built is evident: More than a decade of TES innovation and $118 million in investments have led to deployments across Europe, the U.S., and the Middle EastCommissioning and building over 100 MWh of projectsA $500 million pipeline of commercial opportunities4GWh of manufacturing capacity Let us be clear: a reverse split changes the number of shares outstanding, but it does not impact your ownership. All shareholders-including insiders-are impacted equally by this reverse split. That's not incidental. It's intentional. We are all in this together. Our Company's founders and management, including myself, continue to have significant holdings in Brenmiller Energy. Investors can be assured that all of our interests are aligned. As we are aiming to move towards key implementation milestones for commercial deployment in the near-term, with funding commitments for projects within our existing portfolio, and strategic collaborations-we believe that these future achievements will translate into tangible value for shareholders. We're not waiting for the market to understand what we've built. We are aiming to make it impossible to ignore. As we've shared throughout 2025, we believe that Brenmiller Energy has entered a new phase-one defined by acceleration. Our recent progress with TES projects including Tempo Beverages in Israel and SolWinHy in Spain makes that clear: we believe we are on the verge of a breakout moment with a robust global commercial pipeline and technology that's already proven in the field. The result? Real operating momentum that we believe will spark interest in our technology-and a reappraisal of the value it truly deserves. We thank you for standing with us, and we invite you to stay close. We believe that the weeks ahead won't just validate our vision-they'll define it. Sincerely, Avi BrenmillerCEO, Brenmiller Energy Ltd. About Brenmiller Energy Ltd. Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the company on X and LinkedIn. Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements when it discusses: expected near-term milestones; the timing for implementing a reverse share split; its protecting and preserving shareholder value as the Company approaches a critical period of execution its business objectives;; the Company's future commercial deployment milestones, funding commitments for projects within its existing portfolio, and strategic collaborations and that such future achievements will translate into tangible value for shareholders; future interest in the Company's technology and a reappraisal of its value; and the Company's $500 million pipeline of commercial opportunities. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, which is available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact: investors@ SOURCE: Brenmiller Energy
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
