August 12, 2011
ThermoEnergy Increases Revenues, Pares Losses
Worcester wastewater treatment and power generation company ThermoEnergy Corp. saw revenues more than quadruple during the second quarter to $1.4 million compared to a year ago.
Net losses were $2.9 million for the quarter, down 46.5 percent from a loss of $5.5 million during the second quarter of 2010.
The company has incurred losses since its inception in 1988 and is seeking to raise capital through equity or debt financing and attain commercial contracts in order to reach positive cash flow, according to a public filing.
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