Signs a contract worth $1.1 M
Leading Aerospace Firm Purchases Additional CASTion Designed Wastewater Treatment, Chemical Recovery System Totaling $1.1 Million
LITTLE ROCK, Ark., July 22 /PRNewswire-FirstCall/ -- ThermoEnergy Corporation's (OTC Bulletin Board: TMEN - News) CASTion subsidiary announced that a leading US aerospace and military supplier has purchased an additional CASTion custom-designed, proprietary chemical recovery and water conservation system to enhance the supplier's existing wastewater treatment process. The additional custom designed system is in keeping with the client's goal of minimizing its environmental impact on land, water, air, and human health through the beneficial reuse of water as well as recycling of primary manufacturing by-products. In total, the contract represents $1.1 million in revenue to ThermoEnergy's subsidiary.
"This contract is a strong example of the type of success our CASTion sales team is having in capitalizing on our robust 2008 pipeline," commented ThermoEnergy's CEO Dennis Cossey, "After spending the first two quarters focusing on building potential sales leads, we believe our pipeline is approaching $10M year to date and expect to close on a good portion of these sales in 2008. CASTion continues to prove itself as a market leader in industrial wastewater treatment and water conservation solutions, and we look forward to the rapidly improving ramp-up at CASTion, both from a revenue and profitability perspective."
The advanced wastewater treatment system being installed is one of the Company's CAST 2500 Systems; which will be coupled with a reverse osmosis unit and microfilter to treat various wastewaters produced during the manufacture of printed circuit boards. Virtually all the metals recovered from production rinse waters will either be reused or recycled. The new CAST 2500 unit will be an add-on to the initial reverse osmosis system purchased by the client in 2007.
About ThermoEnergy: ThermoEnergy is a diversified technologies company engaged in the worldwide commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. The economic and environmental matrix of the Company's technologies represents a significant advancement in these key infrastructure industries. The Company currently has offices in Little Rock, AR, Worcester, MA, Hudson, MA, Jacksonville, FL, Baton Rouge, LA and New York, NY. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.
ABOUT CASTion: CASTion is a fast growing developer and manufacturer of innovative wastewater treatment and recovery systems for industrial and municipal clients. Our systems are unique because they meet environmental regulations and provide a rapid rate of return on investment by recovering and reusing expensive feedstocks, reducing contaminated wastewater discharge and reusing wastewater in process operations. Our proprietary products CAST and RCAST are combined with off-the shelf technologies to provide systems that are inexpensive, easy to operate and reliable. Our wastewater treatment systems have application in aerospace, food processing, metal finishing, refineries, manufacturing and municipal wastewater. With recovery of feedstocks, avoidance of wastewater and contaminate discharge fees and the reuse of wastewater in your process our systems can deliver cost effective solutions to environmental problems. From our 20,000 square foot manufacturing facility in Worcester, Massachusetts we design, engineer, assemble and ship our systems worldwide. Additional information on the Company and its technologies can be found on its website at www.castion.com.
