Thermal Energy signs agreement for Canadian government funding support for product development in the Chinese petrochemical

Thermal Energy signs agreement for Canadian government funding support for 
product development in the Chinese petrochemical market 
OTTAWA, Feb. 7, 2013 /CNW/ - Thermal Energy International Inc. (TSX-V: TMG) 
("Thermal Energy" or the "Company") is pleased to announced that it has signed 
a funding agreement with the Canadian government related to a previously 
announced offer of funding to support a product development project targeting 
the Chinese petrochemical market. 
On February 8, 2012,Prime Minister Stephen Harper and Chinese Premier Wen 
Jiabao announced results of the third call for joint research and development 
projects under the Canada-China Framework Agreement for Cooperation on 
Science, Technology and Innovation. The bilateral R&D projects are jointly 
funded by ISTPCanada, a national organization mandated by the Government of 
Canada to develop and implement R&D collaboration programs under Science and 
Technology (S&T) cooperation agreements between Canada and key trade partners 
including China; and the Ministry of Science and Technology (MOST) of the 
People's Republic of China. 
At that time Thermal Energy was pleased to announce that included in the list 
of projects receiving support, as announced by Prime Minister Harper and 
Premier Wen Jiabao, was a project it was developing with Cyheat Energy 
Technology Inc. ("Cyheat") and Liaoning Shihua University. The intent of this 
project is to develop a cost-effective waste heat recovery system for use in 
petrochemical re-heating furnaces. If successful this technology is expected 
to help refineries achieve greater energy efficiency, reduce emissions and 
save millions of dollars in fuel costs by reducing the refineries' fuel 
consumption by up to 15 percent and recovering up to 90 percent of the water 
vapor in the emissions for re-use. 
The initial focus for the product is the Chinese market where more than 1,200 
re-heating furnaces are in operation by the petrochemical industry, however if 
successful the technology is expected to have application globally and open up 
a significant new market for Thermal Energy. 
"The petrochemical industry is a key strategic target for Thermal Energy and a 
significant energy consumer worldwide", said William Crossland, Chief 
Executive Officer of Thermal Energy. "Condensing heat recovery on a 
petrochemical re-heating furnace is a novel application of this technology and 
if successful, this project will open new doors for Thermal Energy as well as 
complement our existing FLU-ACE(®) heat recovery system and GEM(®) steam 
trap technologies already widely in use." 
ISTPCanadahas committed to cover 50% of Thermal Energy's eligible costs of 
the project to a maximum of approximately$244,000. The project is expected 
to be completed over the next two to three years. Thermal Energy and Cyheat 
will jointly share any technology developed as a result of this project. 
About Thermal Energy
Thermal Energy International Inc. is an innovative cleantech company providing 
a variety of proprietary and proven energy efficiency and emission reduction 
products and solutions to energy intensive industrial, commercial and 
institutional fossil fuel users worldwide. Thermal Energy is also a fully 
accredited professional engineering firm, and can offer advanced process and 
applications engineering services. By providing a unique mix of proprietary 
products together with process, energy, environmental, and financial expertise 
Thermal Energy is able to deliver significant financial and environmental 
benefits to our customers. 
Thermal Energy's products include;GEM®- Steam traps and condensate return 
systems,FLU-ACE®- Direct contact condensing heat recovery, andDry 
Rex(TM)- Low temperature biomass drying systems. These award winning 
products are effective in a wide variety of industries and application and 
have an excellent track record of longevity, proven reliability and 
performance providing significant energy savings, reduced GHG emissions, 
improved water efficiency, lower maintenance costs, improved product quality 
and increased production efficiency. 
Thermal Energy International Inc. has offices inOttawa,Canadaas well 
asBristol, UK,United States,Italyand China. To find out more about 
Thermal Energy International Inc. (TSX-V: TMG), visit our website at 
http://www.thermalenergy.com. 
About Cyheat Energy Technology Inc.
Cyheat is a privately owned company that focuses on improving the thermal 
energy efficiency of the petrochemical industry. Cyheat has been in business 
for 8 years and has 17 full-time and 30 part-time employees including a number 
of Masters and Ph.D candidates with the Liaoning Shihua University. The 
management of team consists ofJerry Fang, MBA, Chairman and CEO, andProf. 
Baoshan Li, Vice President and Chief Technology Officer.Mr. Fangis a 
Senior Engineer and also an Adjunct Professor of the International MBA program 
at Peking University's Guanghua School of Management. He has 22 years' 
experience in the field of petroleum and energy consumption efficiency.Prof. 
Ligraduated fromChinaUniversity of Petroleum with a Masters of Thermal 
Engineering and has 25 years' of teaching and research experience in the field. 
About Liaoning Shihua University
Liaoning Shihua University was founded in 1950 as Fushun Petroleum Institute. 
Today Liaoning Shihua University has 11 schools and colleges including the 
School of Petrochemical Technology. It is a modern multi-disciplinary 
university with a focus on petrochemistry as its distinctive feature. It is a 
state-owned, non-profit making institution of higher education and the first 
of its kind acrossChina. To-date Liaoning Shihua University has graduated 
more than 40,000 students for China's petrochemical industry. 
NOTE: This press release contains forward-looking statements relating to, and 
amongst other things, based on management's expectations, estimates and 
projections with respect to the anticipated receipt of funding approved by 
ISTP, results and timing of research, the anticipated effectiveness of the 
Company's products and services and the revenues to be received by the Company 
from the project described. These statements are not guarantees of future 
performance and involve a number of risks, uncertainties and assumptions. Many 
factors, some of which are outside of the Company's control, could cause 
events and results to differ materially from those stated. The Company 
disclaims any obligation to publicly update or revise any such statements. 
About ISTPCanada
International Science and Technology Partnerships Canada (ISTPCanada) 
facilitates the creation of global technology partnerships that open new 
markets and trade doors for Canadian companies. ISTPCanada develops and 
implements R&D collaboration programs under Science and Technology (S&T) 
cooperation agreements between Canada and three key trade partners: Brazil, 
China and India. Mandated by the Government of Canada through Foreign Affairs 
and International Trade Canada (DFAIT), ISTPCanada facilitates R&D cooperation 
between Canadian companies, research organizations and their counterparts in 
these countries; and invests in collaborative R&D projects. Since its 
inception in 2007, ISTPCanada has: 


    --  Facilitated 50 bilateral or multilateral partnership
        development and match-making activities, engaging at least
        4,000 highly qualified people, and leading to hundreds of S&T
        collaborations
    --  Invested more than $10 million in 29 bilateral R&D projects
        valued at almost $38 million; and
    --  Gained almost four-fold leverage on every dollar invested by
        the Government of Canada.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT 
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS 
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

William Crossland President and CEO 613-723-6776 
bill.crossland@thermalenergy.com

Babak Pedram Investor Relations The Equicom Group 416-815-0700 ext.264 
bpedram@tmxequicom.com

SOURCE: Thermal Energy International Inc.

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/February2013/07/c4043.html

CO: Thermal Energy International Inc.
ST: Ontario
NI: ENV UTI LOAN MNA COS 

-0- Feb/07/2013 22:00 GMT


 
Press spacebar to pause and continue. Press esc to stop.