ThermoEnergy Sees 2012 Sales Growth
Worcester-based ThermoEnergy Corp., which makes wastewater-treatment and power-generation systems, grew its revenue 25 percent in 2012.
ThermoEnergy's revenue in the fourth quarter, which ended Dec. 31, actually dipped by a third. But for the year, the company took in $6.97 million, up from $5.58 million in 2011. ThermoEnergy continues to operate in the red, but narrowed its losses. It lost $7.4 million in 2012 compared to $17.4 million in 2011.
James F. Wood, who was appointed CEO in January, said in a statement that the company is focusing both on sales in its traditional industrial markets and on newer opportunities for wastewater treatment created by hydraulic fracturing for shale oil and natural gas as well as production of biofuels.
The company has introduced several recovery systems for those processes, including one called TurboFrac.
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