This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ThermoEnergy Corporation Announces The Formation Of Unity Power Alliance

WORCESTER, Mass., March 8, 2012 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN) www.thermoenergy.com, has announced the formation of Unity Power Alliance ( www.unitypoweralliance.com).  The mission of Unity Power Alliance is to work with partners and stakeholders to develop, promote, demonstrate and commercialize "pressurized oxy-combustion" as a new, preferred clean combustion platform for repowering existing coal-fired power plants in the USA, and building new clean power plants around the world.

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

Unity Power Alliance will serve as the company's vehicle to develop and commercialize its emissions-free, clean-combustion technologies, and will seek the involvement of other major firms and organizations with an interest in promoting the technology.  ThermoEnergy holds several promising patents in high-pressure oxy-combustion technology.

"Our strategy is to ally with key industry partners to deploy pressurized oxy-combustion power plants where coal and infrastructure is readily available and conventional coal plants cannot economically meet environmental demands," stated Mr. Cary Bullock, CEO of ThermoEnergy Corp.  "These repowered plants would produce clean electricity at lower cost than alternatives like wind or solar.  Repowering decommissioned coal-fired power plants will provide Unity Power Alliance with a substantial near-term opportunity to commercialize pressurized oxy-combustion technology and participate in revenues from power production.  It is our intent to make additional announcements in the near future concerning our new partnerships and agreements."

The basic underlying technology that Unity Power Alliance will support is called "pressurized oxy-combustion."  Today's typical coal-fired power plants burn coal in air at normal atmospheric pressure. Pressurized oxy-combustion replaces that air with highly purified oxygen at high pressures—creating significant improvements in both environmental and economic performance over competing technologies.

The advantages of the overall approach have been well described in recent papers by Ahmed F. Ghoniem, distinguished professor of mechanical engineering at the Massachusetts Institute of Technology ( MIT), and an adviser to ThermoEnergy ( http://web.mit.edu/mitei/docs/reports/hong-analysis.pdf).

Coal burns more cleanly and efficiently in high pressure oxygen than in normal air. In addition, the high pressure makes it possible to condense—or turn into liquid—the gasses that are normally emitted through the smokestack into the air. As a result, nearly 100% of the conventional pollutants like NO(x), SO(2), SO(3) and mercury can be captured, eliminating pollution from the smokestack. Virtually all of the carbon dioxide can be captured as well. The CO(2) could then be pumped underground, or sequestered. Since CO(2) is a so-called greenhouse gas and the major contributor to climate change, this approach offers a cost-effective way to reduce global warming.

Power companies around the world are facing new or expected regulations that would put limits on the emissions of both conventional pollutants and CO(2). As a result, many utilities in the United States are shutting down old, dirty coal plants. Indeed, new EPA air emissions standards will likely result in the decommissioning of about 70 gigawatts of conventional coal-fired power capacity over the next 2-8 years, representing $40 billion in annual power contracts. But retrofitting those plants with pressurized oxy-combustion technology could allow those plants and others to be transformed into clean, efficient electricity generators, taking advantage of existing coal supplies and other infrastructure. The technology would also allow the creation of new clean coal plants that are able to use the world's abundant supplies of cheap coal.

Mr. Bullock continued, "In the longer-term, we see a huge global market for pressurized oxy-combustion in rapidly developing nations such as China where coal is cheap and abundant, and where the government aggressively supports the development of clean power technologies. In the near term we expect to have many promising updates on the progress of Unity Power Alliance.   As this new enterprise achieves key milestones, we look forward to communicating these accomplishments with our shareholders."

About ThermoEnergyFounded 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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs