The first three months of 2016 saw the United States electrical grid add 70 times the amount of new energy capacity from renewable sources than it did from natural gas. During this three month span, nine new wind power projects provided 707 megawatts of capacity, followed by 44 solar projects adding 522 megawatts of capacity, biomass projects bringing 33 megawatts, and hydropower adding 29 megawatts. This compares to only two new natural gas projects providing 18 megawatts of generating capacity. No new capacity was added to the grid from coal, oil, or nuclear power generation.
This record uptick in renewable projects coming online happened despite sharp declines in oil, coal, and gas prices that supposedly would protect the supremacy of fossil fuel generation.
Government policy has certainly has had, and will continue to have, a role to play. Last December's Paris climate summit witnessed the U.S. pledge to lower its greenhouse gas emissions 28% by 2025. President Obama’s Clean Power Plan to reduce GHG emissions and state renewable energy mandates has prompted utility companies to increasingly invest in wind and solar farms.
Thermal Energy's Heat Recovery Technology Expected to Provide Compelling Payback and Reduce Emissions for Leading Food Company
OTTAWA, Ontario, May 3, 2016 -- Thermal Energy International Inc. (TSX-V: TMG), a global provider of energy efficiency solutions to the industrial, commercial and institutional sectors, today announced that it has received an order valued at approximately $1,015,000 from a leading food products business for the supply and installation of one of the Company’s proprietary FLU-ACE heat recovery systems. The order is expected to be fulfilled and revenue earned over the next six months.
“This order represents another example of our sales focus on customers with multiple needs that can be met with Thermal Energy’s proven solutions," CEO of Thermal Energy. “We first sold GEM steam traps to this customer in January of 2015. Not only did that GEM conversion exceed the customer’s expectations and generate savings faster than the project’s proposed payback period, it opened the door for this latest order. Our heat recovery technology is expected to generate even more savings for this customer and provide a project payback of under two years."
The FLU-ACE heat recovery system and GEM steam traps at this site are expected to generate combined savings of approximately $671 thousand annually, resulting in a combined project payback of just 1.6 years.
In addition to the significant energy savings, the two technologies are expected to reduce the site’s annual greenhouse gas emissions by approximately 2,621 tonnes. That is equivalent to the annual emissions from 552 automobiles or the carbon sequestered by 2,148 acres of forest.
For more information on how Thermal Energy’s proprietary heat recovery systems have benefited food and beverage companies around the world, including several case studies, please visit the Company’s website at www.thermalenergy.com/food-and-beverage.
About Thermal Energy International Inc.
Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors worldwide. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.
Thermal Energy is also a fully accredited professional engineering firm, and can offer advanced process and applications engineering services. The Company’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG.
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