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Canadian Scientific Study Reinforces ThermoEnergy’s Carbon Capture Technology LITTLE ROCK, Arkansas — March 15, 2007 — ( Business Wire ) — ThermoEnergy Corporation ("ThermoEnergy", OTCBB - TMEN) today announced the release of the scientific study by the CANMET Energy Research Centre (part of the Canadian Ministry of Natural Resources) on ThermoEnergy’s advanced new pressurized oxy-fuel power plant design called the ThermoEnergy Integrated Power System, or TIPS process. The report, entitled "Technical and Economic Feasibility Study of a Pressurized Oxy-fuel Approach to Carbon Capture" identifies TIPS as potentially the most competitive new power plant design for the capture of carbon dioxide (CO2). The Company is currently working with the Alaska Energy Authority, the US Environmental Protection Agency (EPA), and CANMET to design, build and operate an engineering prototype of a TIPS power system which will be housed at CANMET’s laboratory in Ottawa. "The CANMET report represents an extremely important milestone for the Company since it not only substantiates, but actually exceeds many of our own performance predictions for TIPS," said Dennis C. Cossey, ThermoEnergy’s CEO. "The data generated by the current project underway in Ottawa will provide the data we need to take the TIPS technology to the next step – a large-scale stand-alone pilot plant," said Alex Fassbender, EVP and Chief Technology Officer at ThermoEnergy as well as Project Manager of the Ottawa development program. Mr. Fassbender is also the inventor of the TIPS process. TIPS is a patented pressurized oxy-fuel combustion system designed to achieve high thermal efficiency, near zero air emissions of pollutants, as well as CO2 capture. TIPS’ ability to utilize a wide range of fuel resources, including high moisture fuels such as Powder River Basin coal and lignite, and biomass with relatively few process steps provides significant economic advantages over competing new power plant designs such as Integrated Gasification and Combined Cycle (IGCC) plants. TIPS also eliminates the need for expensive pre-processing of coal since coals with low thermal value can be fed directly into TIPS boilers with no loss of efficiency. The use of elevated pressures in the TIPS process significantly increases heat transfer which results in a corresponding reduction of size in key power plant components, such as boilers and heat exchangers, when compared with air-fired or atmospheric pressure oxy-fuel systems. TIPS’ excellent thermal efficiencies over a wide range of sizes, from ten-megawatt industrial combined heat & power plants to large utility power plants, provides a wide range of market opportunities both in the US and abroad. One of the key conclusions of the CANMET report is that no major technical barriers were found in the TIPS process. "The current collaboration with the Canadian government, along with previous work done with US Department of Energy (DOE), the EPA, Reaction Systems Engineering (a British firm), and the University of Nevada/Reno has greatly accelerated the development of the TIPS process," said Cossey. "We are on a very aggressive schedule that projects a large-scale, carbon capture commercial power plant underway within the next two years." The 200-page CANMET report will soon be available for download on the ThermoEnergy’s website. About ThermoEnergy Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. The economic and environmental matrix of the Company’s technologies represents a significant advancement in these key infrastructure industries. The Company currently has offices in Little Rock, AR, Hudson, MA, and New York, NY. 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 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 PRODUCTS 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. Contact: Corporate: Dennis C. Cossey, Chief Executive Officer (501) 376-6477 Engineering: Alex Fassbender, EVP & Chief Technology Officer (972) 568-1746 x21 Key Words: ARKANSAS, MASSACHUSETTS, NEW YORK, CANADA, CARBON CAPTURE, CLIMATE CHANGE, GLOBAL WARMING, UTILITIES, POWER PLANT CONSTRUCTION, POWER GENERATION Distributed Energy - The Journal for Onsite Power Solutions November/December 2006 PDF: 2.8 MB, 8 pages ThermoEnergy Newsletter: August 31, 2006 Volume 2, Number 1 PDF: 2.2 MB, 5 pages ThermoEnergy Newsletter: December 30, 2005 Volume 1, Number 2 PDF: 1.2 MB, 5 pages | |||||
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