ThermoEnergy Corporation Announces Investment Banking Agreement With SBI E2-CapitalUSA, the Investment Banking Arm of SOFTBANK Investment Corp. Japan

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ThermoEnergy Corporation Announces Investment Banking Agreement With SBI E2-CapitalUSA, the Investment Banking Arm of SOFTBANK Investment Corp. Japan

ARKANSAS, LITTLE ROCK, Aug. 28 -/E-Wire/-- ThermoEnergy Corporation (OTCBB:TMEN) has engaged SBI E2-Capital USA as its investment banker to assist in the execution of the Company's corporate finance initiatives. As part of the engagement, SBI E2-Capital USA will assist ThermoEnergy in identifying strategic partners both domestically and internationally, as well as work closely with ThermoEnergy in raising its profile in the institutional community.

"We are truly excited about the opportunity to work with ThermoEnergy to solidify and execute their corporate finance strategy," noted Shelly Singhal, Managing Director of SBI E2-Capital USA. "ThermoEnergy is uniquely positioned to capitalize on a market that is in need of innovative and effective products. Now more than ever, wastewater treatment and power generation technologies are at the forefront of both business and political debates."

"We feel we have the right partner in SBI E-2 and SOFTBANK Investment Corp. to assist ThermoEnergy management in implementing its current and long-term business strategy," said Dennis C. Cossey, Chairman and CEO of ThermoEnergy. "We are currently analyzing ways in which to expedite commercialization of the Company's suite of patented and proprietary clean water and clean energy technologies," said Cossey, adding, "we believe the best solution is a combination of an acquisition and/or formation of joint venture partnerships with large, international firms who already have a significant presence in our key targeted markets."

One such effort, is a recently signed Letter Of Intent with the Shenzhen Fuhaoheng Investment Co. LTD, a Chinese consortium, in which the two firms agreed to form a joint venture to pursue wastewater opportunities within China. According to P. L. Montesi, President of ThermoEnergy, this will be the Company's first international venture. "We hope to use this partnership as a blueprint for similar such ventures in other geographical areas," noted Montesi.

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. 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 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 PRODUCT 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

ThermoEnergy Corporation

ThermoEnergy Corporation, Little Rock

P. L. Montesi, 501/376-6477

http://www.thermoenergy.com

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