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 (OTCQB: TMGEF) has secured an additional $4.1 million contract from a leading multinational pharmaceutical company for a turn-key heat recovery project implementation at a U.S. manufacturing facility. This latest order brings the total project value to $5.6 million CAD.
The project represents a significant milestone in the companies' strategic partnership, following a series of agreements including a Master Services Agreement in December 2024, a $500,000 engineering contract, and a $1 million custom equipment order. Once operational, the system will reduce natural gas consumption and CO₂ emissions by 12.5%, eliminating up to 2,038 metric tons of CO₂ emissions annually. Revenue from this order is expected within twelve months.
Thermal Energy International (OTCQB: TMGEF) has secured a $1 million order for custom heat recovery equipment from a major global pharmaceutical company. This follow-on order is part of a larger project that began with a $500,000 engineering contract announced in February 2025.
The order includes the company's proprietary FLU-ACE® Heat Recovery System, which is expected to reduce the customer's natural gas usage and CO₂ emissions by 12.5%, eliminating up to 2,038 metric tons of CO₂ annually. The project aligns with the customer's commitment to the UN's Race to Zero campaign, with potential for implementation across multiple manufacturing sites worldwide.
Thermal Energy International (TMGEF), a global provider of energy efficiency and carbon emission reduction solutions, has announced its participation in the upcoming 2025 Canadian Climate Investor Conference (CCIC). The event is scheduled for June 11, 2025, and will be held at the Arcadian Court in Toronto, Ontario. The company will be presenting at the conference, which focuses on climate-related investment opportunities.
Thermal Energy International (TMGEF) has secured a $930,000 CAD order for its GEM steam traps from a multinational consumer products company for one of its European facilities. The order follows successful implementations at other sites, where GEM traps demonstrated approximately 10% fuel savings. Since 2022, the company has delivered over $4 million worth of GEM projects with this customer across nine production sites globally. The revenue from this latest order is expected to be realized within six months.
The repeat order stems from the customer's satisfaction with fuel savings and carbon emissions reductions achieved through previous GEM steam trap installations. Thermal Energy sees potential for additional opportunities at other production locations worldwide.
Thermal Energy reported mixed Q3 2025 financial results with record year-to-date revenue of $23 million, despite a 4.1% decrease in quarterly revenue to $5.8 million. The company posted a Q3 net loss of $403,000 and negative EBITDA of $167,000.
Key financial metrics include:
- Cash position: $5.1 million
- Working capital: $2.4 million
- Order intake: $6.9 million
- Order backlog: $14.8 million (as of February 28, 2025)
CEO William Crossland highlighted the company's recent investments in engineering and sales teams, which temporarily impacted profitability. While maintaining year-to-date EBITDA positive status, the focus shifts to maximizing investment benefits and growing order intake. The company expects stronger performance in fiscal 2026, with higher revenues contributing more to profitability.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, has announced it will release its fiscal 2025 third quarter financial results before market open on Tuesday, April 29, 2025.
The company will host an earnings conference call and webcast at 8:30 a.m. ET on the same day, featuring management's prepared remarks followed by a Q&A session for qualified equity analysts. The webcast will be accessible via Microsoft Teams, with a slide presentation available at https://bit.ly/TMG2025Q3. A dial-in option will also be provided for those unable to join via MS Teams.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) has secured a $1 million expansion project order from a major multinational food & beverage customer to enhance their existing heat recovery system installed in 2019. The project, set at a U.S. location, will focus on recovering additional waste heat at a multi-boiler site.
The turnkey project encompasses design, construction, startup commissioning, and training for a complete system, including mechanical, electrical, and controls components. Upon completion, the expansion is projected to reduce natural gas consumption by 14,500 MMBTU and decrease CO2 emissions by 767 tons annually.
This marks the company's 11th heat recovery project with this customer, who has already implemented Thermal Energy's solutions across multiple sites, including 4,000 GEM traps at 60 locations. The project is expected to be completed within 9-12 months.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) has secured its largest engineering services contract to date, valued at $500,000 CAD, from one of the world's largest multinational pharmaceutical companies. The contract involves providing detailed engineering services for a potential heat recovery project.
This marks the second major pharmaceutical company to engage Thermal Energy for heat recovery projects, following previous orders for three major heat recovery projects from a different pharmaceutical company. The engineering scope is more extensive than typical project development agreements (PDAs), and follows a PDA signed with this client approximately a year ago.
The customer's approach involves approving the project in stages, with firm pricing to be provided after detailed engineering completion. This pharmaceutical client is aligned with the UN's Race to Zero campaign, aiming to halve global emissions by 2030.
Thermal Energy International reported record revenue of $8.7 million in Q2 2025, representing a 22% increase compared to Q2 2024. The company's turn-key heat recovery business drove this growth, marking the second consecutive quarter of all-time high quarterly revenue.
Despite revenue growth, profitability decreased due to product mix changes and increased investments in business growth. EBITDA was $0.3 million with net income of $28 thousand. The company's cash position stood at $2.8 million with working capital of $3.7 million at quarter end.
Order intake for Q2 was $7.3 million, with the order backlog reaching $12.9 million as of November 30, 2024, and increasing to $17.9 million by January 27, 2025. The company has invested in growth initiatives including a new UK production facility, 18 new staff, a new ERP system, and the CREST mobile project identification app, adding approximately $2.3 million to annual costs.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF), a provider of energy efficiency and carbon emission reduction solutions, has announced it will release its fiscal 2025 second quarter financial results before market open on January 28, 2025. Management will host an earnings conference call and webcast at 8:30 a.m. ET the same day.
The company will provide a live webcast with slide presentation via Microsoft Teams, accessible at https://bit.ly/TMG2025Q2. A dial-in option will also be available for those unable to join via MS Teams, with the Canadian number being +1 437-703-4481. The financial statements and management's discussion will be filed on SEDAR+ and available on the company's website following the release.