ThermoEnergy Corporation announced that it has received $3.70 million in funding from Empire Capital Management, LLC, Hughes Capital Investors, LLC, The Quercus Trust, and other investor.
November 29, 2012 at 11:00 pm EST
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ThermoEnergy Corporation (OTCPK:TMEN) announced a private placement of convertible promissory notes for gross proceeds of $3,700,000 on November 30, 2012. The transaction is a bridge financing round. The transaction will include participation from individual investor Robert S. Trump for $1,500,000, existing investors The Quercus Trust for $250,000, Empire Capital Partners, L.P., Empire Capital Partners, Ltd., and Empire Capital Partners Enhanced Master Fund, Ltd, funds managed by Empire Capital Management, LLC for 1,500,000, and Focus Fund, L.p, a fund managed by Hughes Capital Investors, LLC for 450,000. The promissory notes are convertible into series C preferred stock of the company in the next round. The company wil not pay any brokerage or finder's fees or commissions in the transaction.
On November 30, 2012, ThermoEnergy Corporation closed the transaction.
ThermoEnergy Corporation is an integrated technologies company. The Company is engaged in the commercialization of advanced wastewater treatment systems and development of carbon reducing combustion technologies across the world. The Company specializes in custom-designed, turn-key solutions for a variety of clients in industries, such as oil and gas hydrofracking, metals and metal finishing, chemicals, food and beverage, aerospace, aircraft deicing fluid and glycol recovery. The Companyâs wastewater treatment systems are based on Controlled Atmosphere Separation Technology (CAST) platform. The Company's energy division is developing a new advanced power plant design, known as POXC Pressurized Oxy-Combustion Technology, that combusts coal and other fossil fuels to provide energy with near zero emissions.
ThermoEnergy Corporation announced that it has received $3.70 million in funding from Empire Capital Management, LLC, Hughes Capital Investors, LLC, The Quercus Trust, and other investor.
THERMOENERGY CORPORATION 
