Thermal Energy Signs Letter of Intent for DRY-REX(TM) Biomass Drying System with Eastern Canada Pulp and Paper Mill
06:00 EDT Tuesday, September 18, 2007
Study commences to confirm economic and environmental benefits of low
temperature dryer for converting waste into high quality biofuel to
offset fossil fuel use
OTTAWA, Sept. 18 /CNW Telbec/ - Thermal Energy International Inc. (TSX-V: TMG) (www.thermalenergy.com) is pleased to announce it has signed a Letter of Intent with an Eastern Canada pulp and paper mill for the design and installation of a DRY-REX(TM) low temperature biomass drying system.
Thermal Energy will immediately commence a detailed feasibility which is expected to confirm the economic and environmental benefits of using the DRY-REX(TM) system to dry the mill's biomass waste stream including paper sludge for use as a biofuel. The study will be conducted in the current calendar year and upon acceptance by the mill, would lead to the implementation of a DRY-REX(TM) system under the Thermal-AUD(TM) (Alternate Utility Delivery) program through Thermal Energy's energy services subsidiary ForEverGreen Energy Inc.
"We look forward to providing the client with the results of our detailed study which we believe will show significant capacity to reduce fossil fuels, energy costs and landfill charges by converting the mill's waste stream into very efficient biofuel," said Thermal Energy President and CEO Tim Angus. "This in turn would provide substantial environmental benefits by reducing landfill, greenhouse gases and other emissions."
The Thermal-AUD(TM) offering through ForEverGreen provides customers with a way to generate immediate energy savings and positive cash flow from operations starting the first day of the agreement, all without any up-front or large capital investments.
"Thermal-AUD(TM) is generating tremendous interest within a number of industrial sectors and was the catalyst for the detailed study on this project," said Mr. Angus. "These industries recognize that through this program, Thermal Energy provides them with an opportunity to meet or exceed emission reduction targets by reducing their consumption of carbon based fuels, while preserving capital for other projects on an accelerated timetable unconstrained by capital budgeting."
About Thermal Energy
Thermal Energy International Inc. is an innovative technology company providing custom energy and emission reduction, and bioenergy solutions. Headquartered in Ottawa, Canada, TEI is a designer, design build developer, fabricator, owner, operator and supplier of proprietary and patented energy conservation, renewable energy and environmental technology solutions. Thermal Energy is a fully accredited professional engineering firm, and offers advanced process and applications engineering services. The Company is a proud member of the Chicago Climate Exchange (CCX). FLU-ACE(TM), Dry-Rex(TM), THERMALONOx(TM) and THERMALOZOMAx(TM), THERMAL AUD(TM) are trademarks of Thermal Energy International. GEM(R) is a trademark used under exclusive license from Gardner Energy Management Ltd.
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