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CLEAN TECHNOLOGY COMPANY THERMAL ENERGY POISED TO SUPPORT GLOBAL ENERGY EFFICIENCY DEMANDS


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By Mark Gilman
Benzinga s Cleantech Small Cap Stocks Conference, a virtual event on April 22, 2021, featured Thermal Energy International CEO William Crossland took part in a 30-minute panel discussing the Business Case for Reducing Emissions.
The energy efficiency market has been strong for several years, but in the past year, it has grown at rates higher than expected by the most optimistic green energy advocates. Thermal Energy International, Inc. (TSX.V: TMG), an innovative Canadian clean-technology company, believes it is poised to take advantage of that growth.
Thermal Energy works with multinational, high-volume energy users in industries including pharmaceutical, healthcare, food and beverage manufacturing, oil and gas, and pulp and paper. Each of these core industries continues to come under greater pressure to operate more efficiently and effectively. ....

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Thermal Energy sees steep drop in Q3 revenues amid stricter COVID protocols


Ottawa cleantech firm Thermal Energy International says its revenues took a hit in the third quarter after tougher measures aimed at curbing a new wave of coronavirus infections hampered the firm’s ability to install new products.
In its latest financial statements filed this week, Thermal Energy (TSX-V:TMG) reported revenues of $3.7 million for the three-month period ending Feb. 28, down from $5.8 million a year earlier as COVID-19 continued to wreak havoc with the global economy.
The company posted a net loss of $34,000 in the third quarter, compared with a $430,000 profit a year earlier.
CEO William Crossland said that while sales of steam traps and easier-to-install heat recovery systems tracked well ahead of the previous year’s pace in the company’s third quarter, installations of its high-revenue turnkey heat recovery systems stalled as COVID-19 safety protocols prevented the company’s engineers and technicians from visiting customer sites. ....

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