ThermoEnergy Corporation Announces Retirement of Chairman Dennis C. Cossey

WORCESTER, Mass., Aug. 1, 2011 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a diversified technologies company engaged in the municipal and industrial wastewater treatment and power generation technologies, today announced the retirement of its Chairman, Dennis C. Cossey.  

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"Dennis founded ThermoEnergy in 1988, with fellow Arkansan, Buddy Montesi, to develop energy and water technologies," said Cary Bullock, President and Chief Executive Officer of ThermoEnergy.  "After Buddy's death, Dennis continued to lead the company with foresight and entrepreneurial persistence.  His guidance led to our development of the ZEBS® clean combustion technology and the development and acquisition of several waste water treatment technologies, including the purchase of CASTion Corporation in 2007."

"Dennis was instrumental in our effort to obtain the $27 million contract to utilize ThermoEnergy's proprietary technology in New York City's 26th Ward wastewater abatement project," said Bullock. "Dennis was among the earliest entrepreneurs to realize the importance of nutrient management, such as ammonia reduction, and to attempt to develop technical solutions addressing what today is regarded as a major pollution issue throughout the world. I have enjoyed working with Dennis during the past eighteen months of my tenure.  I, and my colleagues on the Board and in the Company, wish Dennis and wife, Sharron, all the best in his retirement. I look forward to his input regarding ThermoEnergy in the future."

"After twenty-three years of thinking about ThermoEnergy almost every waking moment, I must say I am looking forward to relaxing a little," said Dennis Cossey.  "I feel I'm leaving the Company in good hands.  And I will certainly be available for advice from time to time as may be requested by the Company."

The Nominations Committee of our Board of Directors plans to consider prospective candidates for election to the board to fill the vacancy created by Mr. Cossey's resignation.

For additional details, please see our 8K filed with the SEC today.

About ThermoEnergy

Founded in 1988, ThermoEnergy is a diversified technologies company engaged in the worldwide development, sales and commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies. Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. 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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