ThermoEnergy Corporation (TMEN)

[stockpicks209]

ThermoEnergy Joint Venture Wins Grant from the U.S. Department of Energy To Further Develop Key Clean Coal Technology

The clean coal approach being developed by Unity Power Alliance, the joint venture of ThermoEnergy Corp and ITEA, has a $65 billion potential market.

WORCESTER, Mass., July 27, 2012 -- ThermoEnergy Corporation (TMEN), a diversified technologies company involved in power generation and wastewater recovery, announced today that its Unity Power Alliance (UPA) joint venture has been selected by the U.S. Department of Energy (DOE) for a grant that will fund further R&D on the company's patented pressurized oxy-combustion technologies for the production of clean electric power from coal.

The grant will go to the Utility Power Alliance, a joint venture between ThermoEnergy Corporation (TMEN) and ITEA, S.p.A.

They don’t mention the exact funds. But this seems like it has potential to be a monumental deal for the company. Usually these grants come in stages, so I would expect more news on this to come out as it develops.