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 International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, will release its fiscal 2025 first quarter financial results on October 30, 2024, before market open. The company will host an earnings conference call and webcast at 8:30 a.m. ET the same day to review the results.
A live webcast with slide presentation will be available at https://bit.ly/TMG2025Q1. Participants can join via MS Teams or dial in for audio-only access. The dial-in number for Canada is +1 437-703-4481, with Conference ID: 684 271 075#. Local numbers are also available. Financial statements and management's discussion will be filed on SEDAR+ and available on Thermal Energy's website following the release.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) has secured a $2.2 million order for a heat recovery and heat pump project from a leading multinational pharmaceutical company. This marks the second heat recovery order under their global master services agreement. The project includes both Flu-Ace and HeatSponge heat recovery systems and two heat pumps.
Key highlights:
- Expected to deliver nearly $1 million in annual fuel savings
- Projected to reduce CO2 emissions by 1,199 tons per year, a 14% reduction in site emissions
- Project completion and revenue expected within 12 months
- First project incorporating heat pumps to efficiently convert recovered thermal energy to higher temperatures
CEO William Crossland emphasized the project's importance in helping the customer meet its 2030 emission reduction commitments cost-effectively. The company continues to discuss additional project opportunities with this client, which has about 40 sites of interest worldwide.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) reported record financial results for fiscal 2024. Key highlights include:
- Revenue up 23% to $25.9 million for the year
- Gross profit up 30% to $12.5 million
- EBITDA up 15% to $2.0 million
- Net income up 36% to $1.0 million
- Order intake up 8% to $29.5 million
- Order backlog up 43% to $18.7 million
The company reinvested $1.5 million in growth initiatives, including expanding its team and production capacity. While Q4 results were lower year-over-year due to exceptional GEM orders in the prior year, annual performance showed significant growth across the business. The current order backlog stands at $21.3 million as of September 18, 2024.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, will release its fiscal 2024 fourth quarter and year-end financial results on September 19, 2024, before market open. Management will host an earnings conference call and webcast at 8:30 a.m. ET the same day to review the results. The webcast will be accessible via Microsoft Teams, with a dial-in option available for those unable to join via Teams. Financial statements and management's discussion and analysis will be filed on SEDAR+ and available on Thermal Energy's website following the release.
Thermal Energy International Inc. (TSX-V:TMG, OTCQB:TMGEF), a global provider of innovative energy efficiency and carbon emission reduction solutions, is set to present at the Planet MicroCap Showcase: Vancouver 2024 on September 26, 2024. CEO William Crossland will highlight the company's investment potential, focusing on:
- Proprietary solutions offering high ROI and quick payback
- Significant repeat business from Fortune 500 and large multinational customers
- Track record of profitable growth
The presentation will be accessible via webcast at 12 PM Eastern Time. Thermal Energy will also participate in 1x1 meetings at the Fairmont Waterfront Vancouver. Investors can register for the event and book meetings through the provided links. A recent YouTube video featuring William Crossland discussing the company's project pipeline and value proposition is available for viewing.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, announced that CEO William Crossland has published a letter to shareholders. The letter, available on the company's website, offers insights into:
1. Thermal Energy's progress in fiscal 2024
2. Investments made for continued growth
3. Outlook for fiscal 2025
4. Significance of starting the year with the highest order backlog in company history
Shareholders and interested parties are encouraged to subscribe to TEI News for direct updates. This communication aims to provide transparency and keep stakeholders informed about the company's strategic direction and performance.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) has announced record order intake for its fiscal year ended May 31, 2024, totaling $29.7 million. This represents a 9% increase year-over-year and a 151% increase over the past two years. The company's order backlog at the end of May was up approximately 40% compared to last year and over 200% higher than two years ago.
CEO William Crossland highlighted record order intakes for turn-key heat recovery solutions and the Boilerroom Equipment, Inc. subsidiary, as well as the second-highest annual order intake for the GEM business. These achievements reflect strong demand for Thermal Energy's efficiency and emission reduction solutions, demonstrating customer trust in their technology and expertise.
Thermal Energy International Inc. announced a $1.9 million turn-key heat recovery project for a global materials company to help achieve carbon emission reduction targets. The project is expected to save the customer over $980,000 annually, reduce CO2 emissions by 977 tonnes per year, and improve pollution prevention and control. The customer's engagement with the Science Based Targets initiative demonstrates a commitment to a low-carbon economy. The project is the result of a collaborative effort between the customer and Thermal Energy, showcasing trust in the technology and engineering capabilities of Thermal Energy. The project is set to be completed within nine months.
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