OTTAWA, July 12, 2011 /CNW/ - Thermal Energy International Inc, (TSXV:TMG) (www.thermalenergy.com) (the "Company") announced that it has granted an option to purchase 250,000 common shares of the Company to each of Donald Gibbs and Michael Williams, directors of the Company. These 500,000 stock options were granted pursuant to the terms of the Company's stock option plan, are exercisable at $0.10 per share and have a five year term. One third of the options will vest with the optionee on each of July 12, 2012, 2013 and 2014. The grant to Mr. Gibbs was an initial grant following Mr. Gibbs' appointment to the board of directors and the grant to Mr. Williams was to replace a similar number of options held by Mr. Williams which expired earlier in the year without having been exercised. Stock option grants are subject to necessary regulatory approvals.
About Thermal Energy International Inc.
Thermal Energy International Inc. is an innovative cleantech company providing a variety of proprietary and proven energy efficiency, emission reduction, water efficiency, and bioenergy products and solutions to the industrial, commercial and institutional markets 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, and Dry RexTM - Low temperature biomass drying systems. These award winning products have an excellent track record of longevity, proven reliability and performance and have been shown to provide 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 in Ottawa, Canada, Bristol, UK and Guangzhou, China.
To find out more about Thermal Energy International Inc. (TSX-V: TMG), visit our website at http://www.thermalenergy.com.
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