Thermal Energy Receives $1.5 Million in Repeat Business from Multinational Building Materials Company

Executive Summary

• Thermal Energy International Inc. announced a repeat turnkey project valued at approximately CAD $1.5 million with a multinational building‑materials manufacturer, following a prior CAD $1 million order in July.
• The contract involves installing four HeatSponge two‑stage boiler economizers through its subsidiary Boilerroom Equipment Inc., with revenue to be recognized within the next 12 months.
• Gross margin is expected to align with historical margins for similar turnkey projects, indicating a material positive impact on near‑term earnings.

Key Details

• Order value: CAD $1.5 million, repeat business from the same customer at a different site.
• Scope: Installation of four HeatSponge two‑stage boiler economizers (proprietary technology).
• Delivery timeline: Revenue to be earned within 12 months of contract signing.
• Margin expectation: Gross margin anticipated to be in line with historical turnkey project margins; specific percentages not disclosed but referenced in quarterly disclosures.
• Prior related order: CAD $1 million announced in July 2025 for a separate site with the same customer.
• Customer relationship: Demonstrates continued confidence and opens potential for additional projects at this location, the previous site, and other North‑American/international facilities.

Notable Quotes

“We’re pleased to be expanding our work with this global manufacturer through a second turnkey heat recovery project… This second project is a clear sign of their confidence in our technology and execution.” – William Crossland, CEO, Thermal Energy International Inc.