Welcome to our dedicated page for Thermal Energy news (Ticker: TMGEF), a resource for investors and traders seeking the latest updates and insights on Thermal Energy stock.
Thermal Energy International Inc. reports corporate news tied to its energy efficiency and carbon emission reduction solutions for major corporations. The company’s updates center on heat recovery projects, GEM™ activity, HeatSponge boiler economizers, and turnkey work delivered through its wholly owned subsidiary, Boilerroom Equipment Inc.
Recurring developments include quarterly operating and financial results, order backlog, cash and working-capital disclosures, repeat customer orders, investor presentations, and management or governance changes. Company announcements also describe how its proprietary systems address fuel use and emissions in boiler plant and steam system operations.
Thermal Energy (OTCQB: TMGEF) announced three repeat heat recovery orders totaling approximately $2.1 million CAD from a global nutrition company. The package includes two turnkey projects in the United States and a Major Equipment Package (MEP) for a site in Indonesia, the company’s first heat recovery order in that country.
According to Thermal Energy, these latest orders raise total business with this customer since 2019 to more than $16.8 million CAD, covering at least partial penetration of 28 manufacturing sites in nine countries. The projects are expected to generate $410–472 thousand in annual natural gas savings and reduce 2,306–2,637 tonnes of CO2e emissions per year. Revenue from the three orders is expected within 12 months, with most recognized in the fiscal year ending May 31, 2027.
Thermal Energy International (OTCQB: TMGEF) issued a shareholder letter summarizing fiscal 2026 and progress on strategic initiatives. The company reported record fiscal 2026 order intake of $29.9 million, a 27% year-over-year increase, driven by demand from pharmaceutical, food and beverage, and building materials customers and strong interest in its streamlined HeatSponge turnkey offering.
Thermal Energy has repaid more than $3.9 million of term loans since May 2022 and recently finished repaying its existing term loans, while drawing about US$240 thousand to finance new HeatSponge equipment. The strategy focuses on standardized equipment packages, simplified turnkey projects, and heat pump integration, alongside building indirect sales channels via independent manufacturers’ representatives in North America and Europe, and expanding HeatSponge manufacturing into Europe. The company also highlighted its CREST scoping tool as a key sales accelerator and noted expanded investor outreach through recent roadshows and climate-focused conferences.
Thermal Energy (OTCQB: TMGEF) received a turnkey heat recovery order worth approximately $1.8 million CAD from an international premium beer and beverage company. The FLU-ACE system will recover waste heat from two brewery boilers, providing expected annual fuel savings of about $406 thousand CAD and reducing CO2 emissions by roughly 975 tonnes.
According to Thermal Energy, this is its second turnkey project with this global brewer, with prior GEM Trap deployments across several European sites. The project is expected to be completed, and revenue earned, within 7–8 months, with gross margins anticipated to be in line with historical turnkey project levels.
Thermal Energy International (OTCQB: TMGEF) will present at the Planet MicroCap Las Vegas 2026 conference at the Bellagio Resort & Hotel on Wednesday, June 17, 2026. CEO William Crossland will deliver a webcast presentation at 9:30 a.m. PST and hold in-person 1x1 investor meetings.
Thermal Energy International (OTCQB: TMGEF) will present at the 2026 Canadian Climate Investor Conference on June 9, 2026, at the TMX Market Centre in Toronto.
CEO William Crossland will present and join a panel on industrial resilience, margin expansion, and deep decarbonization.
Thermal Energy (OTCQB: TMGEF) reported Q3 2026 results for the quarter ended Feb. 28, 2026, with revenue up 62% to $9.4M and adjusted EBITDA of $519K. Net income was $338K versus a loss of $403K a year earlier. Cash was $4.0M and order backlog was $14.7M, rising to $16.3M as of April 27, 2026.
The company cited stronger heat recovery and GEM revenues, higher order intake, and improved trailing-12-month revenue of $33.3M.
Thermal Energy International (OTCQB: TMGEF) will release fiscal 2026 third quarter results before market open on April 28, 2026.
Management will host an earnings webcast and conference call at 8:30 a.m. ET with a Q&A; advance moderated investor questions accepted until 8:15 a.m. ET. Financials and MD&A will be filed on SEDAR+ and posted on the company website the same day.
Thermal Energy International (OTCQB: TMGEF) will participate in a TSX-sponsored European roadshow from April 21–23, 2026, presenting in Zurich, Paris and London to family offices and high-net-worth investors focused on the new energy economy.
The company reported record quarterly revenue of $10.2 million for the quarter ended November 30, 2025; Adjusted EBITDA tripled to $814 thousand, and net income rose to $618 thousand. Subscribe to TEI News for updates.
Thermal Energy (OTCQB: TMGEF) won a ~$1 million turnkey heat recovery project from a global nutrition company, its ninth project with that client and third consecutive HeatSponge turnkey order.
The system is expected to recover waste heat, deliver $285,000 in annual natural gas savings and reduce site-wide greenhouse gas emissions by 7%. Revenue is expected to be earned within 6 months and gross margin is anticipated to align with historical turnkey project levels.
Thermal Energy (OTCQB: TMGEF) reported record Q2 revenue of $10.2M for the quarter ended Nov 30, 2025, up ~18% year‑over‑year, with gross profit of $4.0M and gross margin of 39%. Adjusted EBITDA rose 202% to $814K and net income increased to $618K. Cash was $2.0M and working capital $3.4M at quarter end; the company repaid $130K of its term loan and reported a negligible bank balance as of Jan 26, 2026. Order backlog rose 16% to $15.0M at quarter end and was $21.5M as of Jan 26, 2026. Management highlighted stronger HeatSponge sales and completed turnkey project deliveries as drivers of the quarter's results.