Thermal Energy Reports Record First Quarter With Revenue Growth of 45%

Thermal Energy Reports Record First Quarter With  Revenue Growth of 45%

On Monday, October 23, 2017, Canadian cleantech firm, Thermal Energy International, announced its financial results for its first quarter ended August 31, 2017. These results included revenue growth of 45%, including a 168% growth in heat recovery revenue for the quarter. The company also stated that its order backlog remained strong at $7.8 million. Commenting on their results, Thermal Energy’s Chief Executive Officer, William Crossland said “Following our record revenue for all of fiscal year 2017, we achieved record revenue again for the first quarter of fiscal 2018. Four hospital…

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