ThermoEnergy Corporation

WORCESTER, Mass., May 15, 2013 /PRNewswire/ -- ThermoEnergy Corporation (TMEN:OTCBB), a diversified technologies company engaged in the development and sale of patented and/or proprietary wastewater treatment and the development of combustion technologies for the power generation industry in global markets, today announced revenue of $1 million for the three-month period ended March 31, 2013.

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Mr. James Wood, President and Chief Executive Officer of ThermoEnergy commented, "Our revenues this quarter are derived primarily from sales to industrial customers, reflecting a strategic change in our sales and marketing efforts. ThermoEnergy began a concerted effort in the quarter to ramp up its sales and marketing efforts in the Oil and Gas industry.  ThermoEnergy is pleased with the response to the Company's Turbofrac® and Fracgen® product lines as we continue to build our sales pipeline in this market.  This is the first quarter that ThermoEnergy's revenues are not driven by its City of New York ammonia recovery project.  Despite our change in direction away from municipal ammonia recovery, we have been able to take advantage of developments from the New York City project, and the Company is gaining traction in the industrial and energy markets."  

Quarterly Highlights:

• Achieved $1M in revenues from industrial projects.
• Completed manufacturing and Factory Acceptance Testing of Ammonia Removal Process ("ARP") system for Paiton Energy.  The system is en route to Indonesia and scheduled for startup in July 2013.
• Refocused sales and marketing organization to develop sales pipeline and top line growth opportunities.
• Expanded sales activities in Permian Basin and initiated activities in Marcellus Shale to promote Company's proven CAST® technologies for the Oil and Gas industries.
• Received project definitization for the UPA DOE down-select grant, allowing for initiation of ThermoEnergy's involvement on UPA's bench-scale pilot.

Three Month Financial Results for the Period Ended March 31, 2013

For the three-month period ended March 31, 2013 the Company recorded revenues of $1,009,000, a decrease of 40% compared to the first quarter of 2012.  Revenues in 2013 are no longer derived from the Company's NYCDEP contract and are attributable to the manufacture and shipment of industrial systems and work performed by ThermoEnergy on UPA's DOE contract. 

Gross profit for the first quarter of 2013 was negative at $(166,000).  The gross loss is attributable to the Company's inability to record margins until the completion of projects and unabsorbed overhead costs resulting from the termination of the NYCDEP contract. 

General and administrative expenses declined as a result of the Company's continuing cost reduction efforts to $986,000 compared to $1,013,000 in the first quarter of 2012.

Engineering costs increased $86,000 to $195,000 on a year-over-year basis. The increase is due to reduced utilization of the Company's engineering team on projects during the period.

Sales and marketing expenses for the first quarter of 2013 was $382,000, a decrease of 46% compared to the first quarter of 2012. The Company recorded a loss on pre-sales test equipment in 2012 that did not repeat in 2013.  ThermoEnergy also made temporary reductions in headcount as the Company redirected its sales and marketing efforts in 2013.

The Company reported a net loss for the three month period ended March 31, 2013 of $1.07 million ($0.01 per share), compared to $1.54 million ($0.02 per share) for the same period in 2012.

As of March 31, 2013 the Company had cash on hand of $2.28 million.

Please see the Company's Form 10-Q filed with the SEC on May 15th for additional details.  

Investor Conference Call
The Company will host a conference call this afternoon at 4 p.m. EDT. Management will make a brief presentation focusing on the Company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at +1-877-941-2068 (+1-480-629-9712 for international callers), conference ID: 4617906. A live webcast will be available at:
http://public.viavid.com/index.php?id=104609

About ThermoEnergy Corporation
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., May 9, 2013 /PRNewswire/ --  ThermoEnergy Corporation (OTCBB: TMEN) has appointed Bill Bailey Sales Director, Oil & Gas Industry.  Bailey will lead the company's business development efforts to build market share for ThermoEnergy's produced water and flowback water recovery and recycling systems. 

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"The recovery and recycling of shale oil and gas produced waters is a large market opportunity for ThermoEnergy," said Chairman and CEO, James Wood. "Bill is a seasoned business development and sales executive with extensive experience in both the public and private sectors of the water equipment market for the oil and gas industry.  We anticipate that his contribution to our sales and marketing efforts in this industry will significantly accelerate our sales opportunities."

Prior to joining, ThermoEnergy, Bailey was Regional Sales Manager – Texas, Louisiana, and Oklahoma, at Caldwell Tanks, the country's largest elevated tank manufacturer. At Caldwell, Bill consulted with customers in the design, fabrication and erection of above ground welded steel storage tanks for use in the storage of oil, gasoline, chemicals, and oil/gas produced water at refineries, terminals, pipelines and production facilities throughout the United States. Prior to his role at Caldwell, Bailey served in senior sales and business development roles at Landmark Structures, and Utility Service Company.

Bailey earned a BS degree at Sam Houston State University, and an MBA degree at University of Texas at Arlington. He is a member of the American Water Works Association, National Association of Corrosion Engineers, Texas Water Utilities Association, Texas Rural Water Association, and Texas Municipal League, as well as a speaker at a number of events sponsored by these organizations.

ThemoEnergy has completed successful field demonstrations of its TurboFrac® and FracGen® systems at shale oil well sites in Texas. ThermoEnergy TurboFrac systems recover and recycle contaminated produced water and flow-back water created by shale oil and gas production. In addition to recovering usable water for reuse in hydrofracking or other applications, the TurboFrac system can concentrate brine, chemicals and other impurities for beneficial use or cost-efficient disposal.

ThermoEnergy FracGen systems remove brine and other impurities in brackish water from lakes, rivers, streams and local aquifers, producing water suitable to be used for hydraulic fracturing in shale oil and gas production. The company's first commercial system has been in successful operation at an oil field in Texas since October, 2012.

"U.S. oil and gas production creates tens of millions of barrels per day of contaminated wastewater that if not recycled, must to be trucked to disposal sites incurring huge costs at some shale plays," said Wood. "ThermoEnergy has more than 20 years of experience developing wastewater recovery systems for high TDS (Total Dissolved Solids) wastewater similar to produced water. Our proven CAST® platform technology is durable, low-maintenance, efficient, scalable, and mobile, so our TutboFrac systems can be deployed cost efficiently at well sites with both low and high volumes of produced water and a wide range of water chemistries." 

About ThermoEnergy Corporation
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., May 1, 2013 /PRNewswire/ -- ThermoEnergy Corporation (TMEN:OTCBB), a diversified technologies company engaged in the development and sales of water and wastewater management technologies, announced today that Mr. James Wood, Chairman and Chief Executive Officer, and Mr. Gregory Landegger, Chief Operating Officer and Interim Chief Financial Officer, will host a conference call on May 15, 2013. The call will begin at 4:00 pm Eastern. During the call, management will discuss the company's first quarter 2013 results. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-2068. Toll/International: 1-480-629-9712.  Conference ID:  4617906

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A live webcast will be available at: http://public.viavid.com/index.php?id=104609

This event is optimized for Windows Media Player Version 9.  A recording of the call will be available at the above link 15 minutes after the conclusion of the event

About ThermoEnergy Corp.
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., March 19, 2013 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the development and sale of wastewater treatment and power generation technologies in global markets, today announced revenue increased 25% to $7.0 million for the fiscal year ended December 31, 2012.  The company generated gross profit of $173,000 in 2012.

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Mr. James F. Wood, Chairman and Chief Executive Officer of ThermoEnergy stated, "Since joining the company in January 2013 I have been working with the management team and board of directors in refocusing the company on its core competency – the manufacture and sale of systems that economically treat, recover for reuse, and capture the value in industrial wastewater.

"With more than 20 years of operation in the field at a variety of industrial sites, ThermoEnergy's CAST^® technology platform is a proven, cost-effective solution to treat and recover a wide range of challenging wastewater streams," said Wood. "While we continue to build our sales pipeline in traditional industrial markets, we recognize the significant potential for our technology in the energy sector where growing shale oil and gas production, power generation, and biofuel production create tremendous demands on water resources. We are now focusing on these markets and have already made significant inroads with our TurboFrac, FracGen, and ARP wastewater recovery systems."

Mr. Wood continued,"While the company will remain highly focused on building our sales pipeline in wastewater management systems, I am pleased to report that Unity Power Alliance (UPA), a joint venture between ThermoEnergy and Itea, is working together with MIT and Georgia Tech to complete the modeling, design, production, and testing of a bench scale unit utilizing UPA's POXC™ technology for the clean combustion of fossil fuels.

Operational and Financial Highlights:

• Full year revenues increased to $7.0M compared to $5.6M in 2011.
• Expanded sales and marketing organization to better develop top line growth opportunities.
• Piloted combination of CAST™ and membrane technology into oil & gas market, resulting in sale of first system.
• Sold first ARP system for removal and recovery of concentrated ammonia in wastewater.
• Delivered full-scale demonstration unit to treat digestate for biogas applications.
• Initiated cost reduction program during second half of fiscal year.
• Recruited Itea, S.p.A. to join Unity Power Alliance, the company's vehicle to develop and commercialize the development of coal-fired emissions-free electricity generation.
• Awarded a $1M down-select grant to Unity Power Alliance, resulting in $900K subcontract award to ThermoEnergy for construction and project management.

Financial Results for the Year Ended December 31, 2012

For the twelve month period ended December 31, 2012 the Company recorded revenues of $6,971,000, a 25% increase compared to revenues of $5,583,000 in 2011.  In 2012, ThermoEnergy commercialized its first CAST™ ARP unit to remove ammonia from industrial wastewater, and field piloted FracGen and TurboFrac to treat waters in the oil and gas market resulting in the first sale of a FracGen unit to treat source water with high brine concentrations.  The company continued production of the New York City DEP project through its termination on November 29th.

Gross profit for the fiscal year ended December 31, 2012 was $173,000 or 2.5% of revenues. Improvements achieved during the first three quarters were negatively affected by spending overruns on the Paiton ARP system.

General and administrative expenses totaled $4,751,000 in 2012, a decrease of $118,000 compared to 2011. The decrease is attributable to lower compensation and consulting expenses as part of our cost reduction program.

Engineering, research and development expenses totaled $460,000 in 2012, an increase of $161,000 compared to 2011.

Selling expenses totaled $2,855,000 in 2012, an increase of $407,000 compared to 2011. The increase is mainly due to increased business development activities in 2012 as we developed our FracGen technology for use in the oil and gas industries and performed significant pilot work for developing opportunities in the biogas industry.

Net loss for 2012 was $0.07 per share as compared to a loss of $0.30 per share for 2011. The weighted average shares outstanding for 2012 was 103,184,422.

The Company had cash on hand at December 31, 2012 of $4.7 million.

Investor Conference Call

The company will host a conference call and webcast Wednesday, March 20th at 9:00 a.m. EDT. Management will make a brief presentation focusing on the company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-1427. Toll/International: 1-480-629-9664 Conference ID: 4604670.

A live webcast will be available at:  http://public.viavid.com/index.php?id=103738

About ThermoEnergy

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., March 7, 2013 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of water and wastewater management technologies, announced today that Mr. James Wood, Chairman and Chief Executive Officer, and Mr. Gregory Landegger, Chief Operating Officer and Interim Chief Financial Officer, will host a conference call on Wednesday, March 20, 2013, at 9:00 a.m. ET. The call will be followed by the company's 2013 Annual Meeting of Shareholders.

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During the call, management will discuss the company's fourth quarter and 2012 year end results, as well as provide an update on the Company's recent operational achievements. Management will make a brief presentation focusing on the company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-1427. Toll/International: 1-480-629-9664. Conference ID: 4604670.

A live webcast will be available at: http://public.viavid.com/index.php?id=103738

This event is optimized for Windows Media Player Version 9.  A recording of the call will be available at the above link 15 minutes after the conclusion of the event.

At 10:00 a.m. ET, ThermoEnergy Corporation will commence its 2013 Annual Meeting of Shareholders, at the offices of Nixon Peabody LLP, 100 Summer Street, Boston, Massachusetts.

About ThermoEnergy Corp.
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Feb. 26, 2013 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of water and wastewater management technologies, announced that it will be recognized as a 2013 Energy Innovation Pioneer at "IHS CERAWeek 2013," March 4-8, in Houston, Texas.

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Chaired by Pulitzer Prize-winning author, Daniel Yergin, IHS CERAWeek is recognized as the world's leading forums offering insight into the energy future. The event attracts an international group of more than 2,000 industry, policy and financial leaders.

According to IHS CERA, this year's class of 21 Energy Innovation Pioneers were chosen based on their potential to transform the energy future. Selection criteria included creativity, feasibility of plan, scalability of technology, and leadership team.

"We are extremely honored to be recognized by such a prestigious organization for our achievements in sustainable water management technology in energy production," said James F. Wood, ThermoEnergy's chairman, president and chief executive officer. "The future of the energy industry is inextricably tied to responsible water management. ThermoEnergy's economic water recovery solutions preserve water, protect the environment, and lower operating costs. We expect our water recovery systems for applications in power generation, biogas production, and, shale oil and gas production will continue to achieve market penetration."

Mr. Wood and ThermoEnergy Corporation will be honored by IHS CERAWeek at a special Energy Innovations Pioneer Breakfast program on the morning of March 6^th.

About ThermoEnergy Corp.
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Jan. 2, 2013 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of wastewater recovery and clean power generation technologies, announced today that James F. Wood has been named Chairman and Chief Executive Officer, effective January 2, 2013.  Wood succeeds Cary G. Bullock who will remain a member of ThermoEnergy's board of directors.

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A thirty-year power industry veteran and recognized leader, Wood completed his service as Deputy Assistant Secretary for Clean Coal in the US Department of Energy on December 31, 2012.

"With new wastewater management projects in oil/gas hydrofracking, power generation, and biogas production, it has become clear that the future of ThermoEnergy will be driven by demand for our technologies in the energy business," said ThermoEnergy retiring Chairman and CEO, Cary Bullock. "Jim comes to ThermoEnergy with an outstanding track record as an energy industry top executive coupled with exceptional industry experience in both the private and public sectors."

"In addition, our partnership with Sofinter/ITEA in the Unity Power Alliance has moved up the timeline for commercialization of our POXC™ clean coal combustion technology," said Bullock. "Jim's deep knowledge of boiler technologies and the coal industry, as well as his experience bringing major power projects to completion, will be enormously helpful in reaching our goals."

ThermoEnergy's board of directors also announced that the company has raised $3.7 million in capital from inside investors Robert S. Trump, Empire Capital Partners, Focus Fund, and The Quercus Trust. "We are delighted that Jim Wood has accepted our offer to take the helm of ThermoEnergy's board and management team," said board director, Shawn R. Hughes. "This new round of financing is a vote of confidence from the Board that Jim will bring the leadership skills and experience to ramp up market share in the energy sector and guide the company toward a profitable future."

Jim Wood said, "Oil, gas, and electric power production require tremendous quantities of clean water, a precious commodity that is becoming increasingly scarce every year. ThermoEnergy offers the energy industry sustainable water lifecycle management solutions that preserve water, lower operating costs, and protect the environment. Also, ThermoEnergy's efforts in commercializing pressurized oxy-combustion (POXC™) may hold the key to viable clean coal power generation. I am pleased to be part of a team with the potential to make such a valuable contribution to our energy future."

Prior to his appointment at the U.S. Department of Energy, Wood was president and CEO of Babcock Power Inc. (BPI), one of the major US-based designer/manufacturers of environmental, pressure part, heat exchanger, combustion equipment and after-market services for the power generation industry. From 1996 to 2001, Wood was president of Babcock & Wilcox (B&W), a $1.5 billion integrated world-wide provider of boiler-systems and after-market services to the power industry. He also was executive vice president of McDermott International Inc., the former parent of B&W. From 1988 to 1996, Wood was president of WTI International Inc. (WTII) and managing director of Wheelabrator Environmental Systems (WESI), both subsidiaries of Wheelabrator Technologies.

Wood has significant international experience, including periods of residency in Italy, India, Belgium, Colombia, and Ecuador and was responsible for B&W's foreign subsidiaries and ventures in China, Turkey, Egypt and Indonesia. He was appointed to the National Coal Council by three Administrations, and was a member of the US-Egypt President's Council -- both federal advisory committees. Wood is an ASME Fellow and Trustee of Clarkson University.

Wood holds a B.S. in Chemical Engineering from Clarkson University and an MBA with a focus on international economics from Kent State University.

About ThermoEnergy Corp.
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Nov. 20, 2012 /PRNewswire/ -- ThermoEnergy Corp. (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of wastewater recovery technologies, has announced the startup of its first commercial scale hydrofracking water production unit at an oil field in the Southwestern region of the U.S.  The ThermoEnergy FracGen™ unit will remove brine and other impurities from brackish water located deep in local aquifers and produce water suitable to be used in hydraulic fracturing for recovery of oil and gas from shale formations.

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"Many Hydrofracking sites are located in places where fresh water is scarce and must be trucked in at considerable expense," said Cary Bullock, ThermoEnergy Chairman and CEO. "FracGen™ offers significant improvements in hydrofracking sustainability and cost efficiency."

ThermoEnergy recently announced the successful pilot testing of its Turbofrac™ system for cost-effective treatment and recycling of produced water from hydrofracked wells. The Turbofrac system builds on the company's patented CAST® (Controlled Atmospheric Separation technology) for wastewater recovery.  Together, FracGen™ and Turbofrac™ offer the Oil & Gas industry a complete water lifecycle management solution for more cost-effective and sustainable hydrofracking operations.

"The abundant and affordable energy provided by hydraulic fracturing techniques will be a key driver of economic recovery, not only in the U.S. but around the globe," said Bullock. "Hydrofracking requires both the consumption and disposal of huge amounts of water. Water is an even more precious commodity than energy. Sustainable water management solutions like FracGen™ and Turbofrac™ are absolutely critical to the sustainability of the energy industry and our economic future."

About ThermoEnergy Corp.

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corp.

WORCESTER, Mass., Nov. 14, 2012 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the development and sale of patented and/or proprietary wastewater treatment solutions and power generation technologies in global markets, today announced revenue increased 70% to $2.0 million for the three month period ended September 30, 2012 and 57% to $5.6 million for the nine-month period ended September 30, 2012.

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Mr. Cary Bullock, Chairman and Chief Executive Officer of ThermoEnergy commented, "The Company continues to achieve key milestones in both the water treatment and power generation businesses. During the quarter, we made key inroads into the oil & gas industry with the sale of our first FracGen™ water production system and the launch of our TurboFrac™ produced water treatment system. We recently signed a $1.1 million contract with Paiton Energy, owner of the largest power plant in Indonesia, to recover ammonia in the plant's condensate polishing system. The company also delivered and began operating our first Thermo ARP ammonia recovery unit at a biogas plant in Europe."

Mr. Bullock continued, "On the power generation technology side, we kicked off our Department of Energy grant project to model, design, build, and test a bench scale flameless combustion system for pressurized oxy-combustion power generation. Management expects the progress made in both our wastewater and power generation business strategies will lead to significant long-term growth for our shareholders."

Company Highlights:

• Third quarter 2012 revenue increased to $2.0M compared to $1.2M during the same period in 2011.
• Nine-month revenue increased to $5.6M compared to $3.6M during the same period in 2011.
• Booked a $1.1 million ARP system order for Paiton Energy in Jakarta, Indonesia.
• Signed and delivered ThermoEnergy's first commercial FracGen™ water production system to an oil and gas services company and began offering its TurboFrac™ produced water treatment system. 
• The Company shipped and installed its ThermoEnergy ARP™ (Ammonia Recovery Process) pilot system at a major biogas production plant near Amsterdam, the Netherlands.
  • The ARP system will be owned by ThermoEnergy and operated by its partner in the Netherlands, ProfiNutrients BV.
• Completed building a CAST^® based brine concentration system for a division of a major international mining supply company.  We expect this will be shipped in Q1 2013.
• ThermoEnergy's Unity Power Alliance (UPA) joint venture with ITEA was awarded a U.S. Department of Energy (DOE) grant to model, design, build, and test the company's patented pressurized oxy-combustion technologies for the production of clean electric power from coal. Success on this grant has the potential to lead to a $10 to $20 million grant in 2013.
• Obtained $3.1 million of equity financing and $0.7M in project financing in 2012 to advance company objectives and fund working capital needs.

Three Month Financial Results for the Period Ended September 30, 2012

Revenues totaled $2,032,000 for the third quarter of 2012, an increase of 70% compared to $1,193,000 for the third quarter of 2011.  Revenues in the third quarter of 2012 were primarily driven by revenues from our New York City Department of Environmental Protection ("NYCDEP") contract as well as our first sale of a mobile FracGen water production system to the oil and gas industry.

Gross profit for the third quarter of 2012 was $1,000 compared to gross profit of $120,000 in the third quarter of 2011.  The decrease in gross profit is attributable to lower margins on our first mobile FracGen water production system due to higher than expected production costs on the first unit as well as a stop work order issued in August 2012 from New York City's Department of Environmental Protection (NYCDEP) contract.

Due to the stop work order, we incurred ongoing production related costs that could not be charged to the project in the quarter.  On November 13, 2012, the NYCDEP notified the Company that it is terminating the contract which may negatively affect fourth quarter and early 2013 revenues and gross margins.  However, given our new focus on the oil & gas and biogas industries, we expect the short-term negative effect of the termination of the NYCDEP contract will be offset over the long term by new business from implementing our strategy.  

General and administrative expenses were $1,035,000 for the third quarter of 2012 and $897,000 for the third quarter of 2011. The increase in expenses were primarily due to increased legal costs attributable to our third quarter financings and patent applications.

Sales and marketing expenses were $598,000 for the third quarter of 2012 compared to $561,000 in the third quarter of 2011. The Company's sales and marketing efforts in the third quarter of 2012 were redirected and increased to focus on the oil & gas and biogas industries over municipal and other traditional markets in the prior year.

The Company reported a net loss for the three month period ended September 30, 2012, of $1.9 million, or $0.02 per share, compared to $6.5 million, or $0.11 per share for the same period in 2011.

Nine Month Financial Results for the Period Ended September 30, 2012

Revenues totaled $5,620,000 for the first nine months of 2012 compared to $3,575,000 for the first nine months of 2011, an increase of $2,045,000 or 57%.  Gross profit for the first nine months of 2012 was $382,000 (7% of revenues), an increase of $128,000 compared to $254,000 (7% of revenues) in the first nine months of 2011. 

General and administrative expenses were $3,951,000 in the nine-month period ended September 30, 2012 compared to $3,592,000 for the same 2011 period. Sales and marketing expenses were $2,188,000 in the nine-month period ended September 30, 2012 compared to $1,699,000 in the same 2011 period. 

The Company reported a net loss for the nine month period ended September 30, 2012, of $5.9 million, or $0.06 per share, compared to $15.3 million, or $0.27 per share for the same period in 2011.

In September of 2012, the company reduced its operating costs through a reduction in workforce and the elimination of certain sales and administrative costs, the benefit of which will begin to take effect in our fourth quarter's financial results.

As of September 30, 2012 the Company had cash on hand at of $528,000.

Please see our Form 10-Q filed with the SEC today for additional details.  

Investor Conference Call

The conference call will be on Wednesday, November 14th at 4:30 PM Eastern Time. Management will make a brief presentation focusing on the company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-1429.  Toll/International: 1-480-629-9666 Conference ID: 4572448.

A live webcast will be available at: http://public.viavid.com/index.php?id=102244

This event is optimized for Windows Media Player Version 9.  A recording of the call will be available at the above link 15 minutes after the conclusion of the event.

About ThermoEnergy Corp.

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Nov. 8, 2012 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), an industry leader in wastewater recovery and emissions-free power generation technologies, announced today that Cary Bullock, Chairman and Chief Executive Officer, and Ted Klowan, Chief Financial Officer, will host a conference call on November 14, 2012. During the call, management will present the company's third quarter 2012 results, and discuss the company's strategy and progress in penetrating new markets in the energy sector such as Oil & Gas Services, Power Generation, and Biogas Production.

(Logo: http://photos.prnewswire.com/prnh/20100816/CL50460LOGO )

The conference call will be on Wednesday, November 14th at 4:30 PM Eastern Time. Management will make a brief presentation focusing on the company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-1429.  Toll/International: 1-480-629-9666 Conference ID: 4572448.

A live webcast will be available at: http://public.viavid.com/index.php?id=102244

This event is optimized for Windows Media Player Version 9.  A recording of the call will be available at the above link 15 minutes after the conclusion of the event.

About ThermoEnergy Corp.

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has been a pioneer in the development of sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Nov. 5, 2012 /PRNewswire/ -- ThermoEnergy Corp. (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of wastewater recovery and power generation technologies, has announced that it has signed an $900,000 contract with Unity Power Alliance (UPA) to build a bench-scale "flameless" combustion system that will be used to test and optimize UPA's pressurized oxy-combustion technology for clean coal power generation.

(Logo: http://photos.prnewswire.com/prnh/20100816/CL50460LOGO )

The Unity Power Alliance, a joint venture between ThermoEnergy Corporation and ITEA, S.p.A., recently announced that it received a $1 Million Phase 1 award from the U.S. Department of Energy to help fund the project under a special DOE program to advance technologies for efficient, clean coal power and carbon capture. After successful completion of the first phase of the program, it is anticipated that a much larger Phase 2 will occur, with DOE awards in the $10-20 million range applied toward the construction of a pilot scale plant.

Construction of the bench scale unit will begin in late in Q4, 2012 at ThermoEnergy's 48,000 sq ft, manufacturing facility in Worcester, Massachusetts. Fabrication and assembly is expected to be completed in Q1 2013. Testing will take place at the new Carbon Neutral Energy Solutions (CNES) laboratory at Georgia Tech, and will be based on techno-economic models provided by MIT.

"We are very proud to participate in a project that could have significant benefits for the world's energy future and carbon footprint," said ThermoEnergy Chairman and CEO, Cary Bullock. "ThermoEnergy continues to find new applications for the company's technology and expertise in the energy sector, including oil & gas hydrofracking, biogas production, and power generation."

About ThermoEnergy
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary technology for the recovery and recycling of wastewater from oil & gas hydrofracking operations, municipal and industrial wastewater treatment, and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

About Unity Power Alliance
Unity Power Alliance is a joint venture between ThermoEnergy Corporation (OTCBB: TMEN) and ITEA, S.p.A. The Mission of the Unity Power Alliance is to the develop and commercialize POXC™ "pressurized oxy-combustion" as a new, preferred clean combustion platform for repowering existing coal-fired power plants in the USA and building new power plants around the world with near zero air emissions. Unity Power Alliance's strategy is to form alliances with engineering companies, utilities, independent power producers, air separators, service companies, CO2 pipeline companies, transportation companies, and other key industry stakeholders who believe near zero emissions fossil fuel power production is a desirable and achievable near-term goal that will provide maximum benefit to the global environment and economy. Visit www.unitypoweralliance.com

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corp.

WORCESTER Mass., Oct. 15, 2012 /PRNewswire/ -- ThermoEnergy Corp. (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of wastewater recovery and power generation technologies, has announced that it has signed a $1.1 million contract to provide an ARP (Ammonia Recovery Process) system at Paiton Energy's new Paiton 3 power station located on Java Island. Paiton 3 is the first super-critical coal unit in Indonesia and the largest and most efficient coal-fired generating unit on the Java-Bali grid.

(Logo: http://photos.prnewswire.com/prnh/20100816/CL50460LOGO )

The ThermoEnergy ARP system will separate ammonia from the power plants' condensate polishing system regeneration wastewater allowing the plant to recycle the water for steam generation and recover aqueous ammonia for use in the plant's pollution control systems.

After a comprehensive evaluation by Paiton Energy and consulting engineering firm, Burns and Roe, ThermoEnergy's ARP system was selected as a significantly more cost-effective and energy-efficient alternative to traditional air stripping technology. In addition, the ARP system offers a fraction of the footprint that would have been required to handle the same capacity with air stripping towers.

Manufacturing on the ThermoEnergy ARP system will begin in early Q4 2012, with onsite installation planned for Q2 2013. The Company was also successful in obtaining project financing for the order.

"ThermoEnergy wastewater recovery technologies continue to find new applications in the energy sector," said ThermoEnergy Chairman and CEO, Cary Bullock. "We are making significant inroads into oil & gas hydrofracking and biogas production, and we are extremely excited by this first foray into a potentially huge power generation market."

As part of its marketing strategy in Asia, ThermoEnergy recently signed an agreement with KBK (Kyokuto Boeki Kaisha, Ltd.) (8093.T) to represent the company in Japan and in other countries in the region. 

About ThermoEnergy Corp. 
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. The company has spent nearly two decades developing sustainable water treatment technologies that help clients operate more efficiently, save money, reduce their carbon footprints, and meet sustainability goals. ThermoEnergy's award-winning wastewater recovery systems provide superior process economics and environmental compliance for a variety of wastewater treatment operations.  ThermoEnergy is represented ProfiNutrients NL and by Eurotas Technologies in Europe, and by KBK (Kyokuto Boeki Kaisha, Ltd.) in Japan and other countries in Asia. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com

About Paiton Energy 
PT Paiton Energy is an Independent Power Producer (IPP) established in Indonesia in 1995. Equity is owned by Mitsui & Co., Ltd.; International Power of the UK; Tokyo Electric Power Company, Incorporated (TEPCO); and PT Batu Hitam Perkasa of Indonesia.

About Burns and Roe 
Burns and Roe is a comprehensive engineering, procurement, construction, operations and maintenance company providing services to private and governmental clients worldwide. The firm's professional services extend from project inception to operations and maintenance. Visit www.roe.com.

About KBK
KBK (Kyokuto Boeki Kaisha, Ltd.) is a Japanese trading firm established in 1947 specializing in engineering products and services.  KBK provides comprehensive services along with their products, including engineering and technological services, for major corporations around the world.  It handles a wide range of products and merchandise, including steel, heavy electric, chemical, and automotive products for basic industries as well as natural resource development, environmental, telecommunications and electronics products.  Visit http://www.kbk.co.jp/en/index.html.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corp.

WORCESTER, Mass., Oct. 15, 2012 /PRNewswire/ -- Unity Power Alliance (UPA), a joint venture between ThermoEnergy Corporation (OTCBB: TMEN) and ITEA, S.p.A., announced today that the U.S. Department of Energy (DOE) has provided final approval on an award of $1 Million to advance the company's  pressurized oxy-combustion technology for clean, coal-fired power generation.

(Logo: http://photos.prnewswire.com/prnh/20121015/CL92617LOGO )

The Unity Power Alliance (UPA) award team includes ThermoEnergy of Massachusetts, ITEA S.p.A., Massachusetts Institute of Technology (MIT), and Georgia Tech.  The first key part of UPA's program is a techno-economic modeling optimization to be conducted by MIT. The new Carbon Neutral Energy Solutions (CNES) laboratory at Georgia Tech will host the second major part of the project which is testing ITEA's "flameless" reactor over a wide range of pressures.  The results will then be analyzed in conjunction with the techno-economic modeling conducted by MIT. ThermoEnergy will build the bench-scale testing unit.

"The core of the technology that the UPA will optimize involves a "flameless" combustion system that was developed by ENEL SpA and ITEA and is already successfully operating at a 5MWth plant in Italy," said Unity Power Alliance Managing Director, Robert Marrs. We are confident that the team can achieve even greater efficiencies given the opportunity to test the reactor at a variety of higher pressures within the scope of our combined UPA patents."

After successful completion of the first phase of the program, it is anticipated that a much larger Phase 2 will occur with DOE/NETL awards in the $10-20 million range toward the construction of a pilot scale project.

About Unity Power Alliance
Unity Power Alliance is a joint venture between ThermoEnergy Corporation (OTCBB: TMEN) and ITEA, S.p.A. The Mission of the Unity Power Alliance is to the develop and commercialize POXC™ "pressurized oxy-combustion" as a new, preferred clean combustion platform for repowering existing coal-fired power plants in the USA and building new power plants around the world with near zero air emissions. Unity Power Alliance's strategy is to form alliances with engineering companies, utilities, independent power producers, air separators, service companies, CO2 pipeline companies, transportation companies, and other key industry stakeholders who believe near zero emissions fossil fuel power production is a desirable and achievable near-term goal that will provide maximum benefit to the global environment and economy. Visit www.unitypoweralliance.com

About ThermoEnergy
Founded in 1988, Thermo Energy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary  technology for the recovery and recycling of wastewater from oil & gas hydrofracking operations, municipal and industrial wastewater treatment, and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

About ITEA S.p.A
ITEA S.p.A is an Italian engineering and technology company that has been acquired by Sofinter Group (http://www.sofinter.it/), one of the most dynamic European players providing high technology, energy-recovery solutions. ISOTHERM Pwr  Flameless Oxy-Combustion patented by ITEA produces low-cost energy (steam and electricity) by flexible use of low ranking fuels such as waste, heavy oils, pet coke, and coal, while meeting strict environmental regulations. The ISOTHERM Pwr is a high-yield energy-recovery technology suitable for different fuels end-of-line residues from refinery, petrochemical, pharmaceutical and other process industries.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Sept. 11, 2012 /PRNewswire/ -- ThermoEnergy Corp. (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of leading wastewater recovery and power generation technologies, has announced the appointment of Gregory Landegger as Vice President and Chief Operating Officer.

(Logo: http://photos.prnewswire.com/prnh/20100816/CL50460LOGO)

Mr. Landegger is a restructuring and a corporate turn-around executive who has already been working as a management consultant to the ThermoEnergy executive team since May 2012.  During this time, he has been instrumental in refocusing the company on high-demand, higher-margin markets for sustainable water recovery in the oil, gas, and power industries.  With the help of Mr. Landegger's leadership, ThermoEnergy has begun to transition its sales and marketing efforts away from markets such as municipal water treatment where sales cycles are long and margins are slim, to more profitable applications of the company's water recovery technology in such industries as oil/gas hydrofracking and industrial biogas.

Mr. Landegger will also play a key role in supporting the Unity Power Alliance, ThermoEnergy's joint venture with ITEA S.p.A. The Unity Power Alliance is developing clean coal power plant technology to generate electricity with virtually no emissions of harmful pollutants or greenhouse gases. The Unity Power Alliance was recently selected to receive a significant grant from the U.S. Department of Energy.

"It is a pleasure to welcome a new executive to the company that has already won the confidence and respect of both our Board and senior management," said Cary Bullock, ThermoEnergy's Chairman and CEO. "Greg's exceptional executive management experience at both large and small manufacturing operations, coupled with his comprehensive experience in corporate finance, M & A, and restructuring, will be the springboard for reorganizing and rebuilding our management team, and reformulating our strategic business plan for growth and profitability."

"ThermoEnergy's technology tackles two of the most pressing issues facing the world today – energy and water," said Landegger. "Not only are these commodities the lifeblood of modern society, they are interconnected, as production of oil, gas, power, and biofuels requires huge amounts of water.  ThermoEnergy's water recovery systems make it possible to utilize new sources of non-potable water in energy production while also providing the ability to recycle water that has already been used in the production process."

"In addition, the clean coal technology being developed by the Unity Power Alliance will not only produce electricity with no harmful emissions, it is much more water efficient than conventional systems, offering the potential to save billions of gallons of water each year," said Landegger.

Prior to joining ThermoEnergy, Mr. Landegger held a variety of executive and operational senior management positions at manufacturing and financial services companies, including: President and CEO at United Container Machinery Group, Inc.; General Manager, Specialty Products at MarquipWardUnited, Inc.; and Financial Analyst/Operations Management Executive at W.R. Huff Asset Management Co., LLC.

Mr. Landegger received a BSFS degree from Georgetown University. He also completed the "Young Executives Institute Management Program" at the Kenan-Flagler Business School at University of North Carolina, and the Production Management Development Program, at Weyerhaeuser.

About ThermoEnergy

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corp.

WORCESTER, Mass., Aug. 14, 2012 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the development and sale of patented and/or proprietary wastewater treatment and power generation technologies in global markets, today announced revenue increased 32% to $1.9 million for the three month period ended June 30, 2012 and 51% to $3.6 million for the six-month period ended June 30, 2012. The company expects revenues in the second half of the year to accelerate as the company delivers its new water recovery product lines to the oil and gas industry.

(Logo:  http://photos.prnewswire.com/prnh/20100816/CL50460LOGO )

Mr. Cary Bullock, President and Chief Executive Officer of ThermoEnergy commented, "After a series of successful tests in our labs, as well as in the field, the Company has begun to focus on providing solutions to the water challenges confronting hydraulic fracturing in the oil and gas industry. We have recently added two new product offerings, FracGen™ and TurboFrac™, both of which are advancements of other water technologies we have delivered.   FracGen™ upgrades brackish water that can be used for fracking, and is an advancement of our African project which became operational last year.  TurboFrac™ is an advancement of our patented CAST^® platform, will be used in the treatment of produced waters and flowback waters.  Both technologies are extremely important as we face the worse draught conditions in over 100 years.  As previously announced, we have already sold a FracGen™ unit, which will be delivered this quarter.  We believe there will be a strong market for the FracGen™ and TurboFrac™ product lines going forward.  We expect to book our first sale of TurboFrac later this year and expect these transactions to provide recurring service revenue as well."

Mr. Bullock continued, "We are also pleased about UPA's recent selection for a $1 million grant award by the U.S. Department of Energy to fund further R&D on our patented pressurized oxy-combustion technologies for the production of clean electric power from coal.  This is a monumental achievement for the company, as it provides strong validation of our carbon recovery technology, and the potential for substantial revenue production."

Company Highlights:

• Second quarter 2012 revenue increased to $1.9M compared to $1.4M during the same period in 2011.
• Six-Month revenue increased to $3.6M compared to $2.4M during the same period in 2011.
• Successfully completed field trials for its new line of water treatment products for the oil and gas industry.
• Signed a contract to deliver ThermoEnergy's first commercial hydrofracking water production system, FracGen™, to an oil and gas services company. 
• ThermoEnergy's Unity Power Alliance (UPA) joint venture was selected by the U.S. Department of Energy (DOE) for a $1 million grant that will fund further R&D on the company's patented pressurized oxy-combustion technologies for the production of clean electric power from coal.
• ThermoEnergy Corp. and ITEA S.p.A. announced that they will work together to promote, finance, design and construct a 50 Megawatt (MW) pilot plant and a 320 MW commercial facility in the United States using a clean coal technology called pressurized oxy-combustion.

Three Month Financial Results for the Period Ended June 30, 2012

For the three-month period ended June 30, 2012 the Company recorded revenues of $1,900,000, a 32% increase compared to $1,434,000 recorded in 2011.  The Company continued to devote significant resources toward production work on our $27.1 million contract with the New York City Department of Environmental Protection ("NYCDEP").  

Gross profit for the second quarter of 2012 was $121,000 (6.4% of revenues), a decrease of $33,000 compared to gross profit of $154,000 (10.7% of revenues) in the second quarter of 2011.  The decrease in gross profit is attributable to the mix of work performed in the respective quarters. 

General and administrative expenses increased by $585,000 or 45% in the second quarter of 2012 compared to the same period in 2011, primarily due to increased one-time accounting expenses in 2012 associated with our 2011 financial statement audit and increased legal, consulting and other professional expenses associated with our recent financing efforts.

The Company reported a net loss for the three month period ended June 30, 2012, of $2.5 million, or $0.03 per share, compared to $1.5 million, or $0.03 per share for the same period in 2011.

Six Month Financial Results for the period ended June 30, 2012

Revenues totaled $3,588,000 for the first six months of 2012 compared to $2,382,000 for the first six months of 2011, an increase of $1,206,000 or 51%.  Management had devoted significant resources toward manufacturing-related activities on our NYCDEP contract in 2012. 

Gross profit for the first six months of 2012 was $381,000 (10.6% of revenues), an increase of $246,000 compared to $135,000 (5.7% of revenues) in the first six months of 2011.  The increase is attributable to higher revenues as well as higher margins on manufacturing-related activities for the NYCDEP contract in 2012 compared to engineering and design work performed on that contract in 2011.

General and administrative expenses increased by $220,000 or 8% in the six-month period ended June 30, 2012 compared to 2011, primarily due to increased one-time accounting expenses in 2012 associated with our 2011 financial statement audit and increased legal, consulting and other professional expenses associated with our recent financing efforts, partially offset by decreases in non-cash stock option expenses.

The Company reported a net loss for the six month period ended June 30, 2012, of $4.1 million, or $0.04 per share, compared to $8.8 million, or $0.16 per share for the same period in 2011.

As of June 30, 2012 the Company had cash on hand at of $349,000 and no secured debt.

Please see our Form 10-Q filed with the SEC on August 14th for additional details.  

Investor Conference Call

The company will host a conference call tomorrow at 8:30 a.m. EDT. Management will make a brief presentation focusing on the company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-1429. Toll/International: 1-480-629-9666 Conference ID: 4559577. A live webcast will be available at:  http://public.viavid.com/index.php?id=101477

About ThermoEnergy

Founded in 1988, ThermoEnergy Corp. is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., Aug. 9, 2012 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), an industry leader in wastewater recovery and emissions-free combustion technologies, announced today that Cary Bullock, Chairman and Chief Executive Officer, and Ted Klowan, Chief Financial Officer, will host a conference call on August 15, 2012. During the call, management will discuss the company's second quarter 2012 results.

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The conference call will be on Wednesday, August 15th at 8:30 a.m. EDT. Management will make a brief presentation focusing on the company's results, strategies and operating plans. Those wishing to dial in to the call via telephone can do so at Toll Free: 1-877-941-1429.  Toll/International: 1-480-629-9666  Conference ID: 4559577.

A live webcast will be available at: http://public.viavid.com/index.php?id=101477

This event is optimized for Windows Media Player Version 9.  A recording of the call will be available at the above link 15 minutes after the conclusion of the event.

About ThermoEnergy.
Founded in 1988, ThermoEnergy, is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass., July 19, 2012 /PRNewswire/ -- ThermoEnergy Corp. (OTCBB: TMEN), a diversified technologies company engaged in the development and sales of wastewater recovery and power generation technologies, has announced the signing of a contract to deliver ThermoEnergy's first commercial frack water production system to an oil and gas services company. 

(Logo: http://photos.prnewswire.com/prnh/20100816/CL50460LOGO )

In early 2012, the company made a strategic decision to focus on providing water generation and treatment services associated with hydraulic fracturing (frack-water) used in recovering oil and gas from shale formations. The estimated market for recycling and the treatment of this water was $18 billion in 2011 and rapidly growing in 2012.

"ThermoEnergy's frack-water units are completely self-contained and can be deployed to multiple locations compared to many of our competitors who only sell stationary units," said ThermoEnergy Chairman and Chief Executive Officer, Cary Bullock.  "We expect to not only sell multiple frack-water units but also to provide recurring revenue services to our clients for a number of hydrofracking applications in oil and gas production."

The contract was awarded to ThermoEnergy following two highly successful pilot tests performed using ThermoEnergy mobile demonstration units.  The first demonstrated technology capable of upgrading local waters for use in fracking operations on a highly economical basis.  The second demonstrated technology for providing an improved and more cost effect approach for treating produced waters associated with oil and gas extraction. 

"ThermoEnergy's proprietary wastewater recovery technologies are particularly well suited for the recovery of frack-grade water from local aquifers as well as for the recovery and recycling of usable water from produced and flowback water created by the hydrofracking process," said Bullock. "These systems will provide major improvements in hydrofracking sustainability and cost efficiencies."

Bullock said the deployment of ThermoEnergy frack water recovery systems can reduce demand on drinking water at many hydrofracking sites where usable water is scarce, while enabling produced and flowback water to be reused at places where disposal of these wastes is costly.  

About ThermoEnergy
Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WASHINGTON, June 18, 2012 /PRNewswire/ -- Robert Marrs, Managing Director of the Unity Power Alliance (UPA) will present the benefits of pressurized oxy-combustion (POXC) technology on June 20 at the 2012 "Cutting Edge Coal Utilization Showcase" sponsored by  the Coal Utilization Research Council (CURC) for members, congressional staff, and invited energy industry guests.

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Unity Power Alliance is a partnership between ThermoEnergy Corporation (OTCBB: TMEN) (www.thermoenergy.com) of Worcester, MA and ITEA S.p.A. of Gallarate, Italy.

"UPA is working to accelerate the development of clean coal power plants utilizing POXC, which offers significant cost and efficiency advantages over alternative technologies, allowing coal to burn cleaner and more efficiently, with dramatically higher heat transfer rates," Marrs said.  Enel S.p.A., one of the world's largest utilities, has contributed significant support to the advancement of the technology.

Additional benefits include the ability to capture CO2 under pressure with virtually zero emissions, provide net efficiencies greater than 35%, the ability to retrofit brownfield facilities, deliver a net water neutral water solution, and eliminate the hazardous elements of fly ash, Marrs noted.

UPA will be able to utilize ITEA of Italy's patented flameless ISOTHERM Pwr technology that has been proven at both a 5MWth facility in Italy and a 15MWth facility in Singapore, Marrs said.  The combination of ThermoEnergy's high pressure oxy-combustion patents with ITEA's lower pressure oxy-combustion technology and know-how will facilitate the rapid implementation of a nominal 50MWth pilot, followed by a 320MWe facility, Marrs added.

POXC captures nearly 100% of the CO2 under pressure, as well all of the SOx, NOx, Hg and PM associated with conventional coal power plants.  Notably, the system does not require extensive Flue Gas Recycling (FGR) treatment associated with atmospheric oxy-combustion systems, thereby eliminating significant CAPEX and OPEX costs, Marrs said.

In addition, Marrs noted that low-ranking coals, such as sub-bituminous and lignite can also be utilized cost effectively, as the high pressure process actually captures the latent heat of vaporization, allowing for both a more efficient and cost effective process.

ITEA and ENEL S.p.A. also have a technology for a flexible "boiler" system, wherein the plant can ramp from 10% to 100% load factor in 30 minutes, allowing coal plants to be able to be incorporated into power grids with increasingly variable supply characteristics (i.e. wind and solar), Marrs said.

POXC technology is expected to surpass all of the goals set forth by the U.S. Department of Energy (DOE) in its Clean Coal energy roadmap and is ready to be implemented on a 50MWth pilot scale, Marrs pointed out.

About ThermoEnergy
Thermo Energy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

About ITEA S.p.A
ITEA S.p.A is an Italian engineering and technology company that has been acquired by Sofinter Group (http://www.sofinter.it/), one of the most dynamic European players providing high technology, energy-recovery solutions. The Sofinter Group also includes: Ansaldo Caldaie - a world leader in the production of power boilers that use traditional fuels, biomass and municipal solid waste; Macchi - a world leader in the production of co-generation boilers for industrial and process plants; and Europower – an Italian leader in the implementation of medium size (10-50MW) cogeneration plants. ISOTHERM Pwr  Flameless Oxy-Combustion patented by ITEA produces low-cost energy (steam and electricity) by flexible use of low ranking fuels such as waste, heavy oils, pet coke, and coal, while meeting strict environmental regulations. The ISOTHERM Pwr is a high-yield energy-recovery technology suitable for different fuels end-of-line residues from refinery, petrochemical, pharmaceutical and other process industries.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corporation

WORCESTER, Mass. and GALLARATE, Italy, June 14, 2012 /PRNewswire/ -- ThermoEnergy Corp. (OTCBB: TMEN) and ITEA S.p.A. announced that they will work together to promote, finance, design and construct a 50 Megawatt (MW) pilot plant and a 320 MW commercial facility in the United States using a clean coal technology called pressurized oxy-combustion.

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The goal is to accelerate the development of coal-fired emissions-free electricity generation. These clean coal power plants could enable utilities to continue burning inexpensive and abundant coal, while virtually eliminating both the traditional pollution (such as sulfur dioxide) from coal plants and the emissions of carbon dioxide that cause climate change. Moreover, the technology can be retrofitted to existing coal plants. By converting to pressurized oxy-combustion, the power industry could avoid shutting down scores of aging coal-fired facilities now threatened by tough new EPA pollution regulations, saving thousands of jobs and billions of taxpayer dollars.

The clean coal technology will be developed and marketed by Unity Power Alliance LLC, a joint venture between ITEA and ThermoEnergy.

Typical existing coal plants burn coal in air at normal atmospheric pressure. The key advance in the patented ThermoEnergy and ITEA technology is burning the fuel in high-pressure oxygen instead of in regular air. One advantage is that the coal burns more cleanly and efficiently, producing more electricity for a given amount of fuel. More important, the high pressure makes it possible to condense—or turn into liquid—the gasses that are normally emitted through the smokestack. As a result, nearly 100% of conventional pollutants such as NOx, SO2, SO3 and mercury, along with carbon dioxide, can be captured and then safely disposed of, sequestered or recycled. In addition, the extracted water can be recycled, dramatically lowering water consumption.

While experts say that pressurized oxy-combustion holds tremendous promise, it's not yet clear what the optimal pressure will be for commercial plants. ThermoEnergy holds patents for very high pressure systems, while ITEA has patents on approaches that use somewhat lower pressures. Together the companies' patents cover a broad range of possible pressures. The agreement to give patent royalties to the Joint Venture gives Unity Power Alliance a powerful intellectual property position, along with the flexibility to test and deploy designs that will achieve optimal results and speed commercialization of the technology. 

ITEA has proven industrial experience with flameless pressurized oxy-combustion, and already operates a 5 MW thermal energy (MWth) in Italy that tests a wide variety of fuels. The company also has deployed a 15 MWth commercial plant in Singapore. ITEA's efforts have been supported by Rome-based ENEL S.p.A., one of the world's largest utilities. 

"We believe our collaboration with ThermoEnergy through Unity Power Alliance will lead to faster commercialization of pressurized oxy-combustion technology in the power industry," said Alvise Bassignano, Managing Director of ITEA. "We look forward to starting work on our 50 MW plant next year."

"ITEA with support from its parent company, the Sofinter Group, has done exceptional work in demonstrating and deploying pressurized oxy-combustion. We are proud to have them as a partner in the Unity Power Alliance," said Cary Bullock, Chairman and Chief Executive Officer of ThermoEnergy.

Unity Power Alliance Managing Director, Robert Marrs, said: "Our strategy is to form alliances with engineering companies, utilities, independent power producers, air separators, service companies, CO2 pipeline companies, transportation companies, and other key industry stakeholders who believe near zero emissions fossil fuel power production is a desirable and achievable near-term goal. Over the next few weeks and months, we expect to announce the names of major power industry participants that will be joining the Unity Power Alliance to lend their support. "

Unity Power Alliance expects to begin building a 50 MW pressurized oxy-combustion power plant next year in the United States that will serve as the gateway to a 320 MW electricity-producing commercial power plant.

About ThermoEnergy

Founded in 1988, Thermo Energy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

About ITEA S.p.A

ITEA S.p.A is an Italian engineering and technology company that has been acquired by Sofinter Group (http://www.sofinter.it/), one of the most dynamic European players providing high technology, energy-recovery solutions. ISOTHERM Pwr  Flameless Oxy-Combustion patented by ITEA produces low-cost energy (steam and electricity) by flexible use of low ranking fuels such as waste, heavy oils, pet coke, and coal, while meeting strict environmental regulations. The ISOTHERM Pwr is a high-yield energy-recovery technology suitable for different fuels end-of-line residues from refinery, petrochemical, pharmaceutical and other process industries.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

SOURCE ThermoEnergy Corp.