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 International (TMGEF) has received a CAD $3.2 million turnkey heat recovery order from a European agricultural and dairy cooperative.
The project will recover waste energy from the exhaust of two boilers and redirect it into the customer's process to reduce onsite fuel consumption. The order comes from a new customer. Thermal Energy expects revenue from the order to be earned within the next 12 months and the project's gross margin to be in line with historical amounts for its turnkey projects.
Thermal Energy International (TMGEF) will present at Planet MicroCap Toronto on October 28, 2026, with CEO William Crossland speaking. The presentation is scheduled for 10:30 a.m. EST at the Arcadian Court & Loft in Toronto. Crossland will also be available for in-person investor meetings, and presentation webcasts will be available through the conference website.
Thermal Energy International (TMGEF) will release its fiscal 2027 first-quarter financial results before market open on October 27, 2026. Management will host an earnings conference call and webcast at 8:30 a.m. ET that morning to review the results, followed by a question-and-answer session.
The financial statements and management's discussion and analysis will be filed on SEDAR+ following the release and made available on the company's website the same day.
Thermal Energy International (TMGEF) reported record fiscal 2026 revenue of $33.6 million, up 12.7% year over year.
Full-year gross profit rose 14.6% to $14.1 million and gross margin improved to 42.2% from 41.4%, driven by increased heat recovery and GEM equipment sales. Adjusted EBITDA grew 83.5% to $1.9 million, while net income climbed to $1.3 million from $0.2 million, a 749.4% increase. Order intake reached a record $30.0 million, up 37.6%. Cash increased to $3.3 million and working capital to $3.7 million as of May 31, 2026. The company repaid $328 thousand of bank debt and repurchased 3.6 million shares for approximately $500 thousand. Year-end order backlog was $11.8 million and expanded to $18.9 million by September 21, 2026 after $7.1 million of new post‑year‑end orders.
Thermal Energy International (TMGEF) will release its fiscal 2026 fourth quarter and year-end financial results before market open on Tuesday, September 22, 2026.
Management will host an earnings conference call and webcast at 8:30 a.m. ET the same day, including a question-and-answer session. Qualified equity analysts and institutional investors may submit questions via the webcast, while other investors can email moderated questions related to financial and operational performance in advance to investors@thermalenergy.com by 8:15 a.m. ET on September 22.
The live webcast, including a slide presentation, will be available via Microsoft Teams at https://tinyurl.com/TMG2026Q4, with participants asked to join about 15 minutes early for registration and admittance. An audio-only dial-in option will also be available for those unable to access Teams.
The company’s financial statements and management’s discussion and analysis will be filed on SEDAR+ and posted the same day on its investor website at https://investors-thermalenergy.com/en/financial-overview.
Thermal Energy International (TMGEF) will present and participate in 1x1 investor meetings at the 2026 Annual Smallcap Discoveries Conference on Tuesday, September 29, 2026, at the Parq Hotel & Casino in Vancouver, British Columbia.
CEO William Crossland is expected to cover the company’s investment highlights, financial performance, and growth strategy. Thermal Energy recently finished its fiscal year ended May 31, 2026, with record order intake of $29.9 million, a 27% increase over the prior year, and plans to report its fourth quarter and year-end results later in September. Investors can contact Smallcap Discoveries to request one-on-one meetings, and conference registration and agenda information remain available online.
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.