NEAH Energy Holdings, Inc. cancelled the acquisition of ThermoEnergy Corporation from 21Ventures, LLC, Mass Ventures, The Quercus Trust and other shareholders.
September 05, 2013 at 12:00 am
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NEAH Energy Holdings, Inc. made an offer to acquire ThermoEnergy Corporation (OTCPK:TMEN) from 21Ventures, LLC, Mass Ventures, The Quercus Trust and other shareholders on September 5, 2012. The offer provides current ThermoEnergy shareholders the equivalent of one half share of NEAH Energy. The surviving company would be named NEAH Holdings. NEAH Holdings will be governed by a newly formed Board of Directors and Management team comprised of global senior energy industry executives. NEAH Energy will appoint the Executive Chairman and Chief Financial Officer for NEAH Holdings. NEAH Energy plans to spin off Pressurized Oxy-Combustion technology and business activities to current ThermoEnergy shareholders via a share distribution plan. Current ThermoEnergy executives, operations staff and wastewater recovery assets will be incorporated into Water Consolidated Holdings, L.P., a NEAH Holdings subsidiary. Merriman Capital, Inc. acted as financial advisor to NEAH Energy.
NEAH Energy Holdings, Inc. cancelled the acquisition of ThermoEnergy Corporation (OTCPK:TMEN) from 21Ventures, LLC, Mass Ventures, The Quercus Trust and other shareholders on September 5, 2013.
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.
NEAH Energy Holdings, Inc. cancelled the acquisition of ThermoEnergy Corporation from 21Ventures, LLC, Mass Ventures, The Quercus Trust and other shareholders.
THERMOENERGY CORPORATION 