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ThermoEnergy Announces Start of$750,000 Federal Climate Change Grant Program Little Rock, AR—August 30, 2005—ThermoEnergy Corporation (OTCBB—TMEN) announced the start of a $750,000 federally funded program designed to fast track development of its patented new zero air emission technology known as the ThermoEnergy Integrated Power System, or TIPS process. This project is being conducted in conjunction with the engineering research and development department of the University of Nevada, at Reno, whose environmental reputation and expertise are well known. TIPS is an advanced new power plant design that eliminates the atmospheric emissions of mercury, acid gases and particulates from fossil fuel burning power plants. In addition, TIPS captures and recovers carbon dioxide (CO2) in liquid form ready for sequestration or beneficial reuse. With TIPS, harmful air emissions from power plants, which endanger lives and as well as the environment, will become a thing of the past. "We are pleased to be working with the University of Nevada Reno to accelerate the development and commercialization of the TIPS process, said Dennis Cossey, CEO of ThermoEnergy Corporation. "Their expertise in this area adds a new dimension to the Company's internal development program and we look forward to working with them on this important and historic project." The project, which will be based on the UNR campus in Reno, NV, officially got underway on August 10, 2005."The University of Nevada, Reno is pleased to work with ThermoEnergy in developing the new oxy-fuel based technology for recovering energy from different sources. We are excited about the potential of the TIPS process. We thank ThermoEnergy for their financial support for students working on this project." This project is the first of three separate TIPS development projects funded in the FY 2005 federal budget. Two sponsored by the US Department of Energy under its Clean Air Initiative, and the third sponsored by the US EPA Clean Air Program. The Company expects the next two projects, totaling approximately $1.8MM, to commence in coming weeks. With two US patents and four foreign patents already in the company's intellectual property portfolio, TIPS is the realization of over five years of basic research and development work by Alex Fassbender, ThermoEnergy's Principal Technology Officer. According to Fassbender, "once commercialized, TIPS could significantly impact the way the world generates electric and industrial power." About ThermoEnergy Founded in 1988, ThermoEnergy is an infrastructure technologies company engaged in the worldwide 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 Contact Information: For Technology Alex Fassbender, PE Chief Technology Officer Marlborough, MA (508) 251-1903 For Corporate Dennis C. Cossey President & CEO Little Rock, AR (501) 376-6477 This press release includes statements that may constitute "forward looking" statements, usually containing the word "believe," "estimate," "project," "expect" or similar expressions. Forward looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the company's proudct and services in the marketplace, competitive factors, changes in regulatory environments and other risks detailed in the company's peridoic report filings with the securities and exchange commission. By making these forward looking statements, the company undertakes no obligation to update these statements for revisions or changes. Key Words: Arkansas, Nevada, Washington DC, energy |
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