WORCESTER, Mass., July 19, 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 the signing of a contract to deliver ThermoEnergy's first commercial frack water production system to an oil and gas services company.
In early 2012, the company made a strategic decision to focus on providing water generation and treatment services associated with hydraulic fracturing (frack-water) used in recovering oil and gas from shale formations. The estimated market for recycling and the treatment of this water was $18 billion in 2011 and rapidly growing in 2012.
"ThermoEnergy's frack-water units are completely self-contained and can be deployed to multiple locations compared to many of our competitors who only sell stationary units," said ThermoEnergy Chairman and Chief Executive Officer, Cary Bullock. "We expect to not only sell multiple frack-water units but also to provide recurring revenue services to our clients for a number of hydrofracking applications in oil and gas production."
The contract was awarded to ThermoEnergy following two highly successful pilot tests performed using ThermoEnergy mobile demonstration units. The first demonstrated technology capable of upgrading local waters for use in fracking operations on a highly economical basis. The second demonstrated technology for providing an improved and more cost effect approach for treating produced waters associated with oil and gas extraction.
"ThermoEnergy's proprietary wastewater recovery technologies are particularly well suited for the recovery of frack-grade water from local aquifers as well as for the recovery and recycling of usable water from produced and flowback water created by the hydrofracking process," said Bullock. "These systems will provide major improvements in hydrofracking sustainability and cost efficiencies."
Bullock said the deployment of ThermoEnergy frack water recovery systems can reduce demand on drinking water at many hydrofracking sites where usable water is scarce, while enabling produced and flowback water to be reused at places where disposal of these wastes is costly.
Founded 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.
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SOURCE ThermoEnergy Corporation