Message #16 From:
FastFun Date: November 19, 2007 09:53:35 PM
ThermoEnergy Announces Additional Funding for Growth
LITTLE ROCK, Ark.--(BUSINESS WIRE)--ThermoEnergy Corporation ("ThermoEnergy") (OTCBB: TMEN - News) announced today that it has obtained $1 million of convertible debt from existing shareholders. This new funding along with the previously announced $3 million private placement brings the total to $4 million the total raised from two of the largest shareholders of ThermoEnergy. These financings have provided funds for the acquisition of a controlling interest in CASTion Corporation on July 2, 2007 and for additional working capital. "The Company is pleased that these two shareholders have the confidence in management and our business plan to again provide financing assistance as needed to fund the growth of ThermoEnergy," stated Andrew T. Melton, Executive Vice President and Chief Financial Officer.
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 PERIODIC 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:
ThermoEnergy Corporation
Andrew T. Melton, CFO, 501-376-6477
Fax: 501-375-5249
