LITTLE ROCK, Ark., Aug. 9 /PRNewswire-FirstCall/ -- ThermoEnergy Corporation (Pink OTC Markets: TMEN) a diversified technologies company engaged in the municipal and industrial wastewater treatment and power generation technologies, today announced that the Company has completed a private placement of $5.0 million of Series B Convertible Preferred Stock and common stock purchase warrants with the Rydex|SGI Mid Cap Value Fund, Rydex|SGI Mid Cap Value Institutional Fund, Rydex|SGI Small Cap Value Fund, Rydex|SGI Variable Funds Series V (Mid Cap Value), and Rydex|SGI Variable Funds Series Q (Small Cap Value) (the "Rydex|SGI Funds"), which are funds managed by Security Global Investors ("SGI"). SGI has over $21 billion in assets under management.
"We are delighted to have received the $5M investment from the Rydex|SGI Funds," said Cary Bullock, ThermoEnergy CEO. "This investment will assist in strengthening the company's balance sheet and permit us to move aggressively in the treatment of industrial water and power generation markets. The Rydex|SGI Funds' investment will be especially helpful in achieving our strategic five-year growth plan. In particular, these assets will help ThermoEnergy execute its contract with the New York City DEP for the installation of ARP® systems at the 26th Ward Water Pollution Control Plant."
"It is a great honor to be a portfolio company in the Rydex|SGI Funds," added Bullock. "ThermoEnergy is committed to creating value for all its shareholders as we grow our company with two great, environmentally-sound technologies: our versatile water-separation technology, as well as the much larger potential for our Zero Emissions Boiler System (ZEBS) technology which we are commercializing with Babcock Power Inc."
For further details, please see our Form 8-K filed today. About ThermoEnergy:
Founded in 1988, ThermoEnergy, with its subsidiary CASTion Corporation, 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 http://www.thermoenergy.com/, or http://www.castion.com/.
About Rydex|SGI
At Rydex|SGI, we are committed to offering investors greater potential to successfully navigate diverse market conditions. We believe that providing high-quality investment choices, insightful research and investor education is always in favor. Offering a wide array of alternative investment strategies in addition to index-based and fundamental strategies--including actively managed global, value, growth and fixed-income--we endeavor to put our investors first in all that we do. With more than $21 billion in assets under management, Rydex|SGI offers investors more than 100 investment choices--including mutual funds and ETFs.
For more complete information regarding the Rydex|SGI Funds, call 800-820-0888 or visit http://www.rydex-sgi.com/ for a prospectus and a summary prospectus (if available). Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. A Fund's prospectus and its summary prospectus (if available) contains this and other information about the Fund. Please read the prospectus and summary prospectus (if available) carefully before you invest or send money. Investing in mutual funds involves risk and does not assure a profit.
The Rydex|SGI Funds are distributed by Rydex Distributors, LLC (RDL).
Security Global Investors(SM) is the investment advisory arm of Security Benefit Corporation (Security Benefit). Security Global Investors consists of Security Global Investors, LLC, Security Investors, LLC and Rydex Investments. Rydex Investments is the primary business name for Rydex Advisors, LLC and Rydex Advisors II, LLC. Security Global Investors and RDL are affiliates and subsidiaries of Security Benefit, which is wholly owned by Guggenheim SBC Holdings, LLC, a special purpose entity managed by Guggenheim Partners, LLC, a diversified financial services firm with more than $100 billion in assets under supervision.
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.
ThermoEnergy Corporation
CONTACT: Sarah Kresse, +1-501-376-6477, sarah.kresse@thermoenergy.com
Web Site: http://www.thermoenergy.com/
