Feb 18, 2026 (MarketLine via COMTEX) --
Thermal Energy International Inc. received an order for a turnkey heat recovery project worth approximately $1 million from a global nutrition company.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, received an order for a turnkey heat recovery project worth approximately $1 million from a global nutrition company. The turnkey project will include adding one two-stage HeatSponge economizer to each of three natural gas fired boilers on site to recover waste heat from their exhausts. All figures are shown in CAD.
"We're excited to receive more repeat business from this multinational food and beverage leader," said William Crossland, Thermal Energy CEO. "Not only is this our ninth turnkey project with this global client, but it is also our third consecutive HeatSponge turnkey project with them. This order reflects the strength of our long-standing partnership whereby we've been working to economically reduce the client's natural gas use and greenhouse gas emissions. Including this order, since 2019, we've done over $14.6 million in business with this customer and have at least partially penetrated 28 of their manufacturing sites across nine countries worldwide. This latest order further validates the value of our offering and the broader impact we deliver, underscoring the significant opportunity that remains as we continue supporting their global decarbonization efforts.
"This order, along with the seventh and eighth turnkey projects we announced with this client on November 5, 2025, stem from the strategy we communicated in September to develop and promote a streamlined HeatSponge turnkey solution, providing faster turnaround times and delivering strong returns on investment for our customers."
This turnkey project is expected to be completed and revenue earned within 6 months. The Company expects the gross margin for this project to be in line with historical amounts for its turnkey projects. Thermal Energy's overall gross margins are available in its quarterly disclosure materials.
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COMTEX_475928886/2227/2026-03-25T09:35:16
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