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Revision History For: ThermoEnergy Corporation Enters Water Fracking Market

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ThermoEnergy Corp. (OTCBB: TMEN), today announced the signing of a contract to deliver ThermoEnergy’s first commercial frack water production system to a oil and gas services company. The agreement was finalized following two highly successful pilot tests performed using ThermoEnergy mobile demonstration units.

ThermoEnergy will provide water generation and treatment services associated with hydraulic fracturing (frack-water) used in recovering oil and gas from shale formations. The estimated market for recycling and the treatment of this water was $18 billion in 2011 and rapidly growing in 2012. The Company expects this contract to serve as its initial entry to the market, with additional revenue producing deals to follow.

I have been doing some research on the ThermoEnergy and it seems like they have a strong technology for such a small company. What does everyone think? Is it a ‘buy’ at this price?