NEAH Energy Appoints Board of Directors for NEAH Energy Holdings, Inc.

NEW YORK, Sept. 24, 2012 /PRNewswire/ -- Newco Energy Acquisition Holdings LLC ("NEAH Energy"), an energy-related asset and services acquisition firm, today announced Board of Directors appointments to NEAH Energy Holdings, Inc. ("NEAH Holdings"), its wholly owned affiliate.

The NEAH Holdings Board appointments include:

Jolly Hayden, Director

Jim Lister, Director

Richard Harper, Director

Patrick Markey, Director

Kevin Stringer, Director and Chief Financial Officer

Mark Johnson, Director and General Counsel

NEAH Energy has previously made an all share exchange offer to acquire ThermoEnergy Corporation ("ThermoEnergy"). The NEAH offer provides current ThermoEnergy shareholders the equivalent of one half share ("1/2 share") of NEAH Energy Holdings, Inc. ("NEAH Holdings"), a wholly owned affiliate of NEAH Energy for each fully diluted and converted share of ThermoEnergy. 

NEAH Energy proposes to reverse merge NEAH Holdings into the current ThermoEnergy public shell and rename the surviving company "NEAH Holdings". NEAH Energy believes the offer is compelling, allows ThermoEnergy shareholders the opportunity to participate in a much broader institutional business platform which will create a meaningful public stock over time and allow shareholders to potentially realize a significant return on capital invested.

Under the NEAH offer, current ThermoEnergy executives, operations staff and wastewater recovery assets will be incorporated into the newly created Water Consolidated Holdings, L.P. ("WaterCo"), a NEAH Holdings subsidiary. NEAH Holdings will own the General Partner and Limited Partner interests in WaterCo.

NEAH Holdings will be governed by the newly formed Board of Directors and Management team comprised of global senior energy industry executives.

About NEAH Energy:

NEAH Energy is an acquisition company formed to acquire energy and energy-related assets and companies. NEAH focuses its interest in deep value, asset-backed investments in distressed, non-core, and niche-based energy assets, with an emphasis on solid cash flows, capital preservation and prudent risk management.

SOURCE NEAH Energy