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.
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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV