Thermal Energy International Inc. (TSX-Venture:TMG) was abuzz on Thursday as the global provider of proprietary energy efficiency solutions received a $1.7 million order from a major hospital group for one of the Company's proprietary FLU-ACE(R) heat recovery systems.
According to TMG’s CEO, this is the third heat recovery order received from this customer since they signed a corporate level supply agreement with the Company in July of 2015. This nod of approval, and the revenues that come with it are exciting investors which have moved shares of TMG up 43% to $0.15 at last check on strong volume. With today’s strong move, shares are now above their 50 day moving average and quickly closing in on their October high of $0.23.
As per the Company’s press release, Thermal Energy's GEM(TM) stream traps and FLU-ACE heat recovery technologies have already helped hospitals across North America and Europe save more than $80 million while reducing their greenhouse gas emissions by over 540,000 tonnes. With stats like that, its clear to see that this order not only looks to be a good deal for investors and the Company but also the environment.