ThermoEnergy Announces the Completion of a $2.7 Million Bridge Loan Agreement

LITTLE ROCK, Ark., March 17 /PRNewswire-FirstCall/ -- ThermoEnergy Corporation (Pink Sheets: TMEN) today announced that the Company completed a Bridge Loan Agreement, effective as of March 1, 2010, with six of its principal investors. This agreement accelerates the funding under our recapitalization announced in September. The notes mature on February 28, 2011 and have a 3% annual interest rate. These funds will be used for working capital in the Company. For further details, please see the SEC Form 8K we filed today related to this transaction.

Mr. Cary Bullock, the President and Chief Executive Officer of ThermoEnergy said, "I am grateful for the confidence and continuing support displayed by our major shareholders, which has led to the completion of this Bridge Loan Agreement. This agreement was a necessary step in our overall recapitalization plan. We look forward to the imminent signing and ground breaking on our $27M contract for Ammonia Recovery with the City of New York. I'm also pleased to say that progress on our energy initiatives continue with our joint venture partner, Babcock Power. We have many talented technologists within our company and we own or license all the technology we need to move forward."

About ThermoEnergy:

Founded in 1988, 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 wastewater treatment technologies are consolidated in a wholly-owned subsidiary, CASTion Corporation ("CASTion"), a fast growing developer and manufacturer of innovative wastewater treatment and recovery systems for industrial and municipal clients, with large-scale systems operating in the U.S., Mexico, Canada and Japan. 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 treatment systems have application in aerospace, food processing, microelectronics, metal finishing, refineries, pulp & paper, heavy manufacturing and municipal wastewater.  All systems are assembled and shipped from a 20,000 square foot fabrication facility in Worcester, Massachusetts. The Company, headquartered in Little Rock, Arkansas, has additional offices in Phoenix, Arizona and New York, NY. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com, or www.castion.com for specific information on its wastewater treatment systems.

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

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