Thermoenergy Corp (TMEN)

Description:

ThermoEnergy Corporation, an Arkansas corporation, was incorporated in January 1988 for the purpose of developing and marketing certain environmental technologies. The Company is the worldwide licensee, except for STORS, in Japan for three clean water process technologies and one process equipment technology developed by Battelle Memorial Institute. The Company also owns the rights to the ThermoFuel Process, a patent-pending renewable energy process, that represents an advancement of the Sludge-To-Oil Reactor System, and to Enhanced Biogas Production under a license agreement. The five technologies are primarily aimed at solving wastewater problems for broad-based municipal and industrial markets. These technologies include five chemical process technologies: STORS, ThermoFuel, the Ammonia Recovery Process, the Nitrogen Removal Process and Enhanced Biogas Production. They also have a hardware technology developed by BMI known as the Dual-Shell Reactor System, in which STORS and NitRem chemical processes are conducted. STORS is a thermo-chemical process that will convert any biomass sludge into either a burnable fuel oil similar to No. 4 diesel fuel or a char with an energy value similar to coal. ThermoFuel is a renewable energy process that represents an advancement of the STORS process. NitRem is a hydrothermal process, similar in operation to STORS and ThermoFuel, that converts the nitrogenous compounds present in most industrial discharge streams, such as nitrate, nitrites, amines and ammonia, into nitrogen gas N2, which is a benign gaseous compound comprising 80% of the earth's air supply. DSR is a hardware technology developed by BMI and licensed exclusively to the Company. ARP is a patented process designed to recover ammonia from dilute aqueous waste streams. The removed and concentrated ammonia can thereafter be converted into N2 or recovered as a salt, such as ammonium sulfate, packaged and can be sold as a commercial grade fertilizer. TIPS converts the energy in any biomass or fossil fuels, such as coal, gas and oil, and integrates that combustion with the efficient production of electricity. The issuer's revenues for its fiscal year ended December 31, 2003 were $295.