You saw what happened,this morning. Down under .43
Another PR and up it went to .55. Here goes:
"Thermal Energy hopes to sell GEM in China
2007-06-28 13:22 ET - News Release
Mr. Tim Angus reports
THERMAL ENERGY TO MARKET GEM(R) CONDENSATE RETURN SYSTEM IN CHINA
Thermal Energy International Inc. has reached an agreement with Gardner Energy Management of Bristol, U.K., to market its GEM condensate return system in China.
China represents a multibillion-dollar market for condensate return systems and is the fastest growing steam systems market in the world. Thermal has been actively promoting the GEM technology to large Chinese industrial customers for several months and has active advanced proposals in place.
"China represents a magnificent opportunity for the retrofit and new installation of the very unique GEM technology," said Thermal Energy president and chief executive officer Tim Angus. "We are thrilled to have reached an agreement with our partner Gardner Energy Management to market the technology in China."
A number of reports on steam audits in China's various industrial sectors show significantly higher failure rates for traditional types of steam traps than in North America or Europe. Some audits have shown failure rates in the 50-per-cent to 60-per-cent range.
The central Chinese government's National Development and Reform Commission (NDRC) set a unit energy consumption reduction target of 20 per cent for the five-year period from 2006 to 2010. A list of energy-saving products is being drawn up by the central government, the use of which will result in tax preferences. Higher export taxes will be imposed to dissuade companies from exporting goods that involve a high consumption of energy and cause serious pollution. Thermal Energy hopes to have the GEM system qualify for this list.
Thermal Energy is also pleased to have received an order from a key Canadian federal government department for a trial of GEM technology at an Ontario facility with a large district heating system.
"We welcome this opportunity to install and demonstrate the benefits of the GEM technology with a government client," said Anthony Pugliese, Thermal Energy vice-president of sales. "There are dozens of major district heating systems in federal government facilities containing thousands of steam traps which could be replaced with more efficient, permanent GEM traps, providing significant ongoing energy and CO2 reductions."
The GEM condensate return system is the first major advancement in steam trap technology in over 100 years. With no moving parts, the traps are offered with an unprecedented 10-year, no-fail guarantee and offer up to 50-per-cent savings in the cost of steam production over traditional steam traps, through reduced leakage and maintenance."
So, we'll start from .50, tomorrow. Keep watching!
g.p.
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