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VThermoEnergy Appoints Arthur S. Reynolds to Its Board of Directors
LITTLE ROCK, Ark., Oct 16, 2008 /PRNewswire-FirstCall via COMTEX/ -- ThermoEnergy Corporation (OTC Bulletin Board: TMEN) an integrated technologies company engaged in the worldwide commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies, today announced that international financial advisor, Arthur S. Reynolds, has been named to the Company's Board of Directors.
"We are extremely pleased that Mr. Reynolds agreed to join the board of ThermoEnergy," stated Dennis C. Cossey, ThermoEnergy's Chairman and CEO. "With his forty year career in the energy, international finance and investment banking industries, Mr. Reynolds represents a tremendous resource on which the ThermoEnergy management team can draw as the Company increases its international presence in the clean water and clean energy industries."
Mr. Reynolds is the founder and current Managing Director of Rexon Limited, a financial consulting firm with offices in London and New York. Previously, Mr. Reynolds was Managing Director of London-based Ferghana Financial Services Ltd., during his tenure he was responsible for raising hundreds of millions in equity finance, including funding a series of international mergers and acquisitions for the firm's largest client, Sir James Goldsmith. Beginning in the late '70s Mr. Reynolds served as Associate Director for Merrill Lynch International Bank Ltd., responsible for conceiving and implementing Euro-finance strategies for Merrill's U.S. and European energy-sector corporate clients. Mr. Reynolds career also includes serving as Vice President and international representative for Banque de la Societe Financiere Europeenne, a large European consortium bank based in Paris, France; Manager in charge of Corporate Research for the London branch of Morgan Guaranty Trust Co.; Assistant Treasurer at J.P. Morgan & Company, responsible for fixed-rate lending; and developing and implementing product marketing strategy for Mobil Oil Company in France and West Africa.
Mr. Reynolds lives in New Jersey and maintains offices in New York and London. He currently serves on the Board of Directors of Apogee Technologies, Inc. (OTC Bulletin Board: ATCS), and The International Festival Society. Mr. Reynolds earned an AB from Columbia University, a MA from Cambridge University and a MBA from New York University.
"We have known Arthur for several years and are confident his broad international financial experience and personal contacts will prove invaluable as we look for innovative strategies to finance the Company's expansion both within the US as well as foreign markets," said Andrew Melton, EVP and Chief Financial Officer at ThermoEnergy.
About ThermoEnergy:
ThermoEnergy is an integrated technologies company engaged in the worldwide commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. The wastewater treatment technologies are consolidated in its subsidiary, CASTion Corporation ("CASTion"), a fast growing developer and manufacturer of innovative, custom-designed wastewater treatment and chemical recovery systems for industrial and municipal clients. The systems are unique because they meet environmental regulations while providing a rapid return on investment by recovering and reusing expensive feedstocks, reducing contaminated wastewater discharge and reusing wastewater in process operations. CASTion's wastewater systems are currently being used such industries as aerospace, food processing, metal finishing, petro-chemical, refineries, pulp & paper, heavy manufacturing and municipal wastewater. The Company designs, assembles and ships its waste water treatment systems from a 20,000 square foot manufacturing facility located in Worcester, Massachusetts. The power generation technologies are consolidated in a subsidiary, ThermoEnergy Power Systems, LLC ("TEPS"). The economic and environmental matrix of the Company's technologies represents a paradigm shift in 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 http://www.thermoenergy.com/, or http://www.castion.com/ for wastewater treatment specific information.
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.
SOURCE ThermoEnergy Corporation
