Hinke Selling Shares to Provide Thermal Energy Temporary Bridge Financing-Good Luck Tom!

    OTTAWA--July 15, 2002--

Mr. Hinke to provide temporary operations financing as needed until either cash flow improves or new working capital investment is secured

    Thermal Energy International Inc. (TSX Venture Exchange, stock symbol TMG, www.tse-cdnx.com) announced today that Company President & CEO, and Founder Thomas V. Hinke has initiated the selling of some of his personal common shares in order to provide temporary bridge financing of Company operations.
    While the Company has over $500,000 worth of active receivables; however, the Company has been experiencing difficulties in collecting on its receivables in a timely manner.
    In addition, the Company requires immediate financing of new business development and marketing costs in support of both direct sales and strategic alliance initiatives. For further information on new strategic alliances, please see Company news releases dated July 3rd, 2002 (Alfa Laval Inc.), and dated April 10th, 2002 (Siemens Energy & Automation, Inc.).
    "We invite all interested shareholders and investors who wish to assist and support our short term financing needs with attractive terms, to contact us", says Tom Hinke, President & CEO.
    Thermal Energy International Inc. is a leading provider to industry of unique cost-effective energy conservation and environmental compliance solutions headquartered in Ottawa, Canada. More on Thermal Energy can be found at www.thermalenergy.com. FLU-ACE(R) is a registered trademark of Thermal Energy. Common shares of Thermal Energy are traded on the TSX Venture Exchange under the stock symbol TMG, www.tse-cdnx.com.

    The contents of this release have neither been approved nor disapproved by the TSX Venture Exchange (or TSE-CDNX).