Thermal Energy announces appointment of Julia Zhang as CFO

Tickers: XTSX:TMG, PINX:TMGEF
Tags: Alternative Energy

OTTAWA, ONTARIO / TheNewswire / July 12, 2018Thermal Energy International Inc. ("Thermal Energy" or the "Company") (TSXV: TMG), a global provider of industrial, commercial and institutional energy efficiency solutions, today announced that Jie (Julia) Zhang will be appointed Chief Financial Officer of the Company effective July 31, 2018. Ms. Zhang will replace Julia Flynn who will step down as Chief Financial Officer effective the same date.

Ms. Zhang, a Certified Public Accountant (CPA) and Chartered Accountant (CA) with 14 years’ of financial management and reporting experience, re-joins the Company having previously held the position of Financial Controller from 2012 to 2016. She has a Bachelor of Arts, International Relations and Affairs from Peking University and a Bachelor of Commerce, Accounting from the University of Ottawa. She has spent the last two years with two different publicly traded companies, an environmental engineering consultancy and a large multinational tele-communications business.

Ms. Zhang will take over from Ms. Flynn who, over an 11-year career with the Company, grew her role from Financial Controller to become Chief Financial Officer in 2009. In 2008, Ms. Flynn was instrumental in the successful integration of Gardner Energy Management, a privately-owned UK-based company, with Thermal Energy. More recently, she played a key part in the Company’s acquisition of Boilerroom Equipment Inc. After more than a decade at Thermal Energy’s UK office in Bristol, Ms. Flynn has decided to relocate to the British South Coast to pursue new challenges.

William Crossland, CEO of Thermal Energy, commented: "We are delighted to welcome Ms. Zhang back to Thermal Energy. The experience she has gained is set to benefit the business as we continue to grow as a Company.

"The management, staff and Board of Directors of Thermal Energy would like to sincerely thank Ms. Flynn for her dedicated support and significant contribution to the Company’s achievements to date. During her time with Thermal Energy, she has provided exceptional financial guidance and control which has given the company a strong base from which to grow. Under her financial leadership we have added significantly to our product offering, capabilities, and geographic scope and now have operations and employees in six countries. We wish her the best of luck in her future endeavours."

Officer appointments are subject to approval by the TSX Venture Exchange.

About Thermal Energy International Inc.

Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.

Thermal Energy is also a fully accredited professional engineering firm and by providing a unique mix of proprietary products together with process, energy and, environmental engineering expertise, Thermal Energy is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers.

Thermal Energy’s proprietary products include; GEMTM – Steam traps, FLU-ACE(R) – Direct contact condensing heat recovery, and Dry-Rex(R) – Low temperature biomass drying systems as well as the HEATSPONGE(TM) SIDEKICK and RAINMAKER Indirect contact heat recovery systems.

Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Germany, Italy and China. The Company’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG. For more information, visit our website at www.thermalenergy.com and follow us on Twitter at http://twitter.com/GoThermalEnergy.

William Crossland

President and CEO

Thermal Energy International Inc.

613-723-6776

bill.crossland@thermalenergy.com

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