Thermal Energy International's CEO Provides Business Update

Thermal Energy International Inc. ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, announced that its Chief Executive Officer, William Crossland, has published a letter to shareholders, which has been made available on the investors section of the Company's website at https://investors-thermalenergy.com/news/ceo-business-update-summer-2024.

In the letter, William Crossland provides his commentary on Thermal Energy's progress in fiscal 2024, investments made for the Company's continued growth, and the Company's outlook for fiscal 2025, including the importance of beginning the year with the highest order backlog at the start of any fiscal year in the Company's history.