Q: Pat, I have been following Thermal Energy International for a while. It is in an area (environment) that is gaining traction. I am trying to understand what is holding this company back. I would appreciate your perspective. Thanks.
A: Thermal Energy International, $0.08, symbol TMG on Toronto (Shares outstanding: 161.9 million; Market cap: $13.0 million; www.thermalenergy.com), makes systems that aim to improve energy efficiency, lower emissions, cut water use and produce bioenergy. Its clients are in the industrial, commercial and institutional markets.
Thermal Energy’s products include GEM steam traps and condensate return systems; the FLU-ACE heat-recovery system; and the Dry-Rex low-temperature biomass drying system.
The company has recently signed a number of new contracts. Those deals include a $750,000 contract to install a FLU heat-recovery system for a major hospital; it should reduce the facility’s carbon emissions and cut its steam requirements by 14%. Thermal Energy has also entered into a $300,000 agreement to install a heat-recovery system at a food and beverage company.
Thermal Energy has a number of its FLU-ACE systems already installed at hospitals and pulp and paper plants as well as its GEM systems at food and beverage facilities.
In June 2018, the company paid $2.25 million U.S….
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