ThermoEnergy Moves Corporate Headquarters to Massachusetts

Sep 27, 2011, 08:30 ET from ThermoEnergy Corporation

WORCESTER, Mass., Sept. 27, 2011 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the municipal and industrial wastewater treatment and power generation technologies industries, today announced that it has relocated its corporate headquarters from Little Rock, Arkansas to the Company's existing combined Research & Development and manufacturing facility in Worcester, Massachusetts. The Company has maintained offices at the Worcester facility since ThermoEnergy's acquisition of CASTion Corporation in 2007.

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Commenting on the move, Massachusetts Governor Deval Patrick said, "We are committed to growing our innovation economy – and creating the quality jobs that go along with it – in every corner of the Commonwealth.  ThermoEnergy Corporation is a welcome addition to Worcester's burgeoning technology cluster."

"Relocating our corporate headquarters to Worcester allows us to consolidate Senior Management, R&D, and Manufacturing all in the same location," said Cary Bullock, Chairman and Chief Executive Officer of ThermoEnergy.  "This will enhance our ability to respond to new project opportunities by better integrating our engineering, sales and business development teams. Additionally, we expect to realize cost savings by consolidating our operations to a central facility."

"It's terrific that ThermoEnergy has decided to relocate its corporate headquarters to Worcester," said Massachusetts Congressman, Jim McGovern.  "ThermoEnergy is at the cutting edge of clean technology. I will continue to advocate for ThermoEnergy and other businesses at the federal level.  In order to compete effectively in the 21st Century economy, we must invest in new, green technology.  Massachusetts can and should be at the forefront of that effort."

ThermoEnergy Corporation has also announced that it is in the process of acquiring an additional 28,000 square feet of space in Worcester to support the manufacturing phase of the company's $27 million contract with the City of New York to deploy a state-of-the-art ammonia recovery system at the City's 26th Ward Wastewater Treatment Plant. This will result in new jobs in Worcester.

Worcester, Massachusetts Mayor Joseph C. O'Brien commented, "We are excited that this dynamic company has decided to move their headquarters to our great city and be part of our growing green economy. Worcester is striving to become a model green and sustainable community and we are grateful that ThermoEnergy will be a part of this movement here in Worcester."

About ThermoEnergy

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal, industrial, and agricultural wastewater treatment and recovery, as well as clean 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.

SOURCE ThermoEnergy Corporation



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