{"success":true,"data":{"pressRelease":{"id":"182441","rtpr_id":"nNFC3hpN2s-20261028","ticker":"TMG","exchange":"","all_tickers":["TMG"],"title":"Thermal Energy Announces $2 Million Turnkey Heat Recovery Project with Global Nutrition Company","author":"Newsfile Corp","published_at":"2026-10-28T11:01:20.023Z","article_body":"Latest turnkey project is the 12th with this customer overall and the 6th in\nthe past year\n\nOttawa, Ontario--(Newsfile Corp. - October 28, 2026) - Thermal Energy\nInternational Inc. (TSXV: TMG) (OTCQB: TMGEF) (FSE: EUW) (\"Thermal Energy\n(https://api.newsfilecorp.com/redirect/RYBy0TWE7m)\" or the \"Company\"), a\nprovider of high-ROI energy efficiency and carbon emission reduction solutions\nto major corporations around the world, has received an order for a turnkey\nheat recovery project from a global nutrition company. The project, valued at\n$2 million, will be the 12(th) turnkey project with this customer. All figures\nare shown in CAD.\n\n\"Repeat business of this frequency and magnitude highlights the strength of\nour relationship and the repeatable opportunities that arise when customers\nwitness successful execution and measurable results,\" said William Crossland,\nThermal Energy CEO. \"Having previously upgraded the plant's steam system with\nour GEM™ steam traps, this latest project will recover valuable energy from\nthe exhaust of an indirect gas-fired burner used in a milk spray dryer,\nfurther improving the plant's energy efficiency, operating performance and\nenvironmental footprint. The customer is a leading global brand, and we are\npleased to be their energy efficiency and carbon reduction partner.\"\n\nThis turnkey heat recovery project is expected to recover valuable energy from\nthe exhaust of an indirect gas-fired burner used in a milk spray dryer on\nsite. By recovering and redirecting this waste energy back into their process,\nthis project is projected to result in approximately $750 thousand in annual\nsavings for the customer when including CO(2) offset.\n\nRecently, on August 24, 2026, Thermal Energy announced three heat recovery\norders from the same customer. Those orders, totalling $2.1 million, included\ntwo turnkey projects and a major equipment package. For more details, read the\nCompany's press release from August 24, 2026\n(https://api.newsfilecorp.com/redirect/WAPDKTWgOR).\n\nThe revenues expected from this latest order are expected to be earned within\nthe next 12 months. The Company expects the gross margin for the turnkey\nproject to be in line with historical amounts for its turnkey projects.\nThermal Energy's overall gross margins are available in its quarterly\ndisclosure materials.\n\nReaders are encouraged to subscribe to TEI News\n(https://api.newsfilecorp.com/redirect/qpmQRUajkg) to receive strategic news\nand updates directly to their inbox.\n\n For media enquiries contact: Thermal Energy International Inc. Canada: 613-723-6776 UK: +44 (0)117 917 2179  Marketing@thermalenergy.com  For investor enquiries: William Crossland President and CEO Thermal Energy International Inc. 613-723-6776  Investors@thermalenergy.com  \n\n \n\nNotes to editors\n\nAbout Thermal Energy International Inc.\n\nThermal Energy International Inc. provides energy efficiency and emissions\nreduction solutions to Fortune 500 and other large multinational companies. We\nsave our customers money by reducing their fuel use and cutting their carbon\nemissions. Thermal Energy's proprietary and proven solutions can recover up to\n80% of energy lost in typical boiler plant and steam system operations while\ndelivering a high return on investment with a short, compelling payback.\n\nThermal Energy is a fully accredited professional engineering firm with\nengineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol,\nUK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By\nproviding a unique mix of proprietary products together with process, energy,\nand environmental engineering expertise, Thermal Energy can deliver unique,\nsite-specific turnkey and custom engineered solutions with significant\nfinancial and environmental benefits for our customers.\n\nThermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V)\nunder the symbol TMG, on the OTCQB under the symbol TMGEF, and on the\nFrankfurt Open Market (FSE) under the symbol EUW. For more information, visit\nour investor website at https://investors-thermalenergy.com or company website\nat www.thermalenergy.com. You can also follow the Company on X at\nhttps://x.com/GoThermalEnergy.\n\nCautionary Statements\n\nThis press release contains forward-looking statements relating to, and\namongst other things, based on management's expectations, estimates and\nprojections, the anticipated effectiveness of the Company's products and\nservices, the timing of revenues to be received by the Company, the\nexpectation that orders in backlog will become revenue, the anticipated\nbenefits of the Company's current efforts at training and business improvement\nefforts, opportunities for growth, the Company's belief that it can capitalize\non opportunities, the size of markets and opportunities open to the Company.\nInformation as to the amount of heat recovered, energy savings and payback\nperiod associated with Thermal Energy International's products are based on\nthe Company's own testing and average customer results to date. Statements\nrelating to the expected installation and revenue recognition for projects,\nstatements about the anticipated effectiveness and lifespan of the Company's\nproducts, statements about the expected environmental effects and cost savings\nassociated with the Company's products and statements about the Company's\nability to cross-sell its products and sell to more sites are forward looking\nstatements. These statements are not guarantees of future performance and\ninvolve a number of risks, uncertainties and assumptions.\n\nMany factors, some of which are outside of the Company's control, could cause\nevents and results to differ materially from those stated. Fulfilment of\norders, installation of product and activation of product could all be delayed\nfor a number of reasons, some of which are outside of the Company's control,\nwhich would result in anticipated revenues from such projects being delayed or\nin the most serious cases eliminated. Actions taken by the Company's customers\nand factors inherent in the customer's facilities but not anticipated by the\nCompany can have a negative impact on the expected effectiveness and lifespan\nof the Company's products and on the expected environmental effects and cost\nsavings expected from the Company's products. Any customer's willingness to\npurchase additional products from the Company and whether orders in the\nCompany's backlog as described above will turn into revenue is dependent on\nmany factors, some of which are outside of the Company's control, including\nbut not limited to the customer's perceived needs and the continuing financial\nviability of the customer. The Company disclaims any obligation to publicly\nupdate or revise any such statements except as required by law. Readers are\nreferred to the risk factors associated with the Company's business as\ndescribed in the Company's most recent Management's Discussion and Analysis\navailable at www.sedarplus.ca.\n\n# # #\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/321362","article_body_html":"","raw_payload":{"data":{"id":"nNFC3hpN2s-20261028","title":"Thermal Energy Announces $2 Million Turnkey Heat Recovery Project with Global Nutrition Company","author":"Newsfile Corp","ticker":"TMG","created":"2026-10-28T11:01:20.023Z","tickers":["TMG"],"exchange":"","article_body":"Latest turnkey project is the 12th with this customer overall and the 6th in\nthe past year\n\nOttawa, Ontario--(Newsfile Corp. - October 28, 2026) - Thermal Energy\nInternational Inc. (TSXV: TMG) (OTCQB: TMGEF) (FSE: EUW) (\"Thermal Energy\n(https://api.newsfilecorp.com/redirect/RYBy0TWE7m)\" or the \"Company\"), a\nprovider of high-ROI energy efficiency and carbon emission reduction solutions\nto major corporations around the world, has received an order for a turnkey\nheat recovery project from a global nutrition company. The project, valued at\n$2 million, will be the 12(th) turnkey project with this customer. All figures\nare shown in CAD.\n\n\"Repeat business of this frequency and magnitude highlights the strength of\nour relationship and the repeatable opportunities that arise when customers\nwitness successful execution and measurable results,\" said William Crossland,\nThermal Energy CEO. \"Having previously upgraded the plant's steam system with\nour GEM™ steam traps, this latest project will recover valuable energy from\nthe exhaust of an indirect gas-fired burner used in a milk spray dryer,\nfurther improving the plant's energy efficiency, operating performance and\nenvironmental footprint. The customer is a leading global brand, and we are\npleased to be their energy efficiency and carbon reduction partner.\"\n\nThis turnkey heat recovery project is expected to recover valuable energy from\nthe exhaust of an indirect gas-fired burner used in a milk spray dryer on\nsite. By recovering and redirecting this waste energy back into their process,\nthis project is projected to result in approximately $750 thousand in annual\nsavings for the customer when including CO(2) offset.\n\nRecently, on August 24, 2026, Thermal Energy announced three heat recovery\norders from the same customer. Those orders, totalling $2.1 million, included\ntwo turnkey projects and a major equipment package. For more details, read the\nCompany's press release from August 24, 2026\n(https://api.newsfilecorp.com/redirect/WAPDKTWgOR).\n\nThe revenues expected from this latest order are expected to be earned within\nthe next 12 months. The Company expects the gross margin for the turnkey\nproject to be in line with historical amounts for its turnkey projects.\nThermal Energy's overall gross margins are available in its quarterly\ndisclosure materials.\n\nReaders are encouraged to subscribe to TEI News\n(https://api.newsfilecorp.com/redirect/qpmQRUajkg) to receive strategic news\nand updates directly to their inbox.\n\n For media enquiries contact: Thermal Energy International Inc. Canada: 613-723-6776 UK: +44 (0)117 917 2179  Marketing@thermalenergy.com  For investor enquiries: William Crossland President and CEO Thermal Energy International Inc. 613-723-6776  Investors@thermalenergy.com  \n\n \n\nNotes to editors\n\nAbout Thermal Energy International Inc.\n\nThermal Energy International Inc. provides energy efficiency and emissions\nreduction solutions to Fortune 500 and other large multinational companies. We\nsave our customers money by reducing their fuel use and cutting their carbon\nemissions. Thermal Energy's proprietary and proven solutions can recover up to\n80% of energy lost in typical boiler plant and steam system operations while\ndelivering a high return on investment with a short, compelling payback.\n\nThermal Energy is a fully accredited professional engineering firm with\nengineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol,\nUK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By\nproviding a unique mix of proprietary products together with process, energy,\nand environmental engineering expertise, Thermal Energy can deliver unique,\nsite-specific turnkey and custom engineered solutions with significant\nfinancial and environmental benefits for our customers.\n\nThermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V)\nunder the symbol TMG, on the OTCQB under the symbol TMGEF, and on the\nFrankfurt Open Market (FSE) under the symbol EUW. For more information, visit\nour investor website at https://investors-thermalenergy.com or company website\nat www.thermalenergy.com. You can also follow the Company on X at\nhttps://x.com/GoThermalEnergy.\n\nCautionary Statements\n\nThis press release contains forward-looking statements relating to, and\namongst other things, based on management's expectations, estimates and\nprojections, the anticipated effectiveness of the Company's products and\nservices, the timing of revenues to be received by the Company, the\nexpectation that orders in backlog will become revenue, the anticipated\nbenefits of the Company's current efforts at training and business improvement\nefforts, opportunities for growth, the Company's belief that it can capitalize\non opportunities, the size of markets and opportunities open to the Company.\nInformation as to the amount of heat recovered, energy savings and payback\nperiod associated with Thermal Energy International's products are based on\nthe Company's own testing and average customer results to date. Statements\nrelating to the expected installation and revenue recognition for projects,\nstatements about the anticipated effectiveness and lifespan of the Company's\nproducts, statements about the expected environmental effects and cost savings\nassociated with the Company's products and statements about the Company's\nability to cross-sell its products and sell to more sites are forward looking\nstatements. These statements are not guarantees of future performance and\ninvolve a number of risks, uncertainties and assumptions.\n\nMany factors, some of which are outside of the Company's control, could cause\nevents and results to differ materially from those stated. Fulfilment of\norders, installation of product and activation of product could all be delayed\nfor a number of reasons, some of which are outside of the Company's control,\nwhich would result in anticipated revenues from such projects being delayed or\nin the most serious cases eliminated. Actions taken by the Company's customers\nand factors inherent in the customer's facilities but not anticipated by the\nCompany can have a negative impact on the expected effectiveness and lifespan\nof the Company's products and on the expected environmental effects and cost\nsavings expected from the Company's products. Any customer's willingness to\npurchase additional products from the Company and whether orders in the\nCompany's backlog as described above will turn into revenue is dependent on\nmany factors, some of which are outside of the Company's control, including\nbut not limited to the customer's perceived needs and the continuing financial\nviability of the customer. The Company disclaims any obligation to publicly\nupdate or revise any such statements except as required by law. Readers are\nreferred to the risk factors associated with the Company's business as\ndescribed in the Company's most recent Management's Discussion and Analysis\navailable at www.sedarplus.ca.\n\n# # #\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/321362"},"type":"article","timestamp":"2026-10-28T11:01:20.077735474Z","server_sent_at_ms":1793185280077},"received_at":"2026-10-28T11:01:20.132Z","source_url":"https://www.newsfilecorp.com/release/321362"},"analysis":{"id":"170233","press_release_id":"182441","analysis_json":{"industry":{"label":"Building Products","sector":"Industrials"},"redFlags":[],"eventType":"operations_update","narrative":"Thermal Energy International received a $2 million (CAD) turnkey heat recovery order from a global nutrition company, its 12th project with this customer and 6th in the past year.\n\nThe project recovers waste energy from a gas-fired burner exhaust at the customer's milk spray dryer and is projected to save the customer roughly $750 thousand annually including CO2 offsets.\n\nRevenue will be earned over the next 12 months with gross margins in line with historical turnkey projects, adding to $2.1 million of orders from the same customer announced in August 2026.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Repeat $2M order from a global nutrition customer underscores sticky, recurring demand for Thermal Energy's heat recovery solutions."},"keyFigures":{"dealValueUsd":"$2 million (CAD)","customDimensions":{"projects_past_year":6,"annual_customer_savings":"$750 thousand (CAD) per year including CO2 offset","project_count_with_customer":12}},"quotedText":"Repeat business of this frequency and magnitude highlights the strength of our relationship and the repeatable opportunities that arise when customers witness successful execution and measurable results","namedEntities":{"people":[{"name":"William Crossland","role":"President and CEO"}],"products":["GEM™ steam traps"],"companies":[{"name":"Thermal Energy International Inc.","ticker":"TMG","relationship":"filer"},{"name":"Global nutrition company (unnamed customer)","relationship":"customer"}],"dollarAmounts":[{"amount":"$2 million","context":"value of turnkey heat recovery project (CAD)"},{"amount":"$750 thousand","context":"projected annual customer savings including CO2 offset (CAD)"},{"amount":"$2.1 million","context":"three prior heat recovery orders announced August 24, 2026 (CAD)"}]},"materialImpact":{"score":2,"reasoning":"A $2 million (CAD) order from a repeat customer, incremental to previously announced orders. Positive for backlog but small relative to a routine order flow announcement for this micro-cap."},"tickerRelevance":{"others":[],"primary":"TMG"},"globalImportance":22,"audienceRelevance":12,"eventTypeSecondary":[],"importanceComponents":{"orderSize":"$2M CAD","tickerTier":"micro-cap (TSXV)","eventGravity":"routine contract win","customerConcentration":"repeat customer, 12th order"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Thermal Energy International received a $2 million (CAD) turnkey heat recovery order from a global nutrition company, its 12th project with this customer and 6th in the past year.\n\nThe project recovers waste energy from a gas-fired burner exhaust at the customer's milk spray dryer and is projected to save the customer roughly $750 thousand annually including CO2 offsets.\n\nRevenue will be earned over the next 12 months with gross margins in line with historical turnkey projects, adding to $2.1 million of orders from the same customer announced in August 2026.","key_figures":{"dealValueUsd":"$2 million (CAD)","customDimensions":{"projects_past_year":6,"annual_customer_savings":"$750 thousand (CAD) per year including CO2 offset","project_count_with_customer":12}},"named_entities":{"people":[{"name":"William Crossland","role":"President and CEO"}],"products":["GEM™ steam traps"],"companies":[{"name":"Thermal Energy International Inc.","ticker":"TMG","relationship":"filer"},{"name":"Global nutrition company (unnamed customer)","relationship":"customer"}],"dollarAmounts":[{"amount":"$2 million","context":"value of turnkey heat recovery project (CAD)"},{"amount":"$750 thousand","context":"projected annual customer savings including CO2 offset (CAD)"},{"amount":"$2.1 million","context":"three prior heat recovery orders announced August 24, 2026 (CAD)"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-28T11:01:25.624Z","global_importance":22,"audience_relevance":12,"importance_components":{"orderSize":"$2M CAD","tickerTier":"micro-cap (TSXV)","eventGravity":"routine contract win","customerConcentration":"repeat customer, 12th order"}},"durationMs":5005,"modelName":"glm-5.3-flashx"}}