JULY 2008

  BUSINESS/ORGANIZATIONAL BRIEFS

AA Midwest opens recycling facility

AA Midwest, a division of AAEQ Manufacturers and Recyclers, recently opened its new automotive recycling facility in Blue Island, Illinois. The facility significantly increases the capacity for AA Midwest to dismantle vehicles and export complete engine, drive train systems and body components to developing countries.

Located in the south suburbs of Chicago, the 80,000 sq.ft. facility allows AA Midwest to increase the number of vehicles processed from 40 to over 500 per month.

Ze-gen’s Scientific Advisory Board grows

Ze-gen, Inc. announced that Dr. Jeff Tester and Dr. Mert Flemings have joined the company’s Scientific Advisory Board. The Scientific Advisory Board focuses on overseeing and driving the technical development of Ze-gen’s advanced gasification technology and offers scientific guidance on the company’s technical direction.

Dr. Jefferson Tester has been involved in chemical engineering process research as it relates to renewable and conventional energy extraction and conversion and environmental control technologies for over three decades.

He is currently the H.P. Meissner professor of chemical engineering at the Massachusetts Institute of Technology. From 1989-2001, Dr. Tester served as director of MIT’s energy laboratory. He has also served as the director of MIT’s School of Chemical Engineering Practice Program and a group leader in the Geothermal Engineering Group at Los Alamos National Laboratory.

Dr. Merton Flemings has been active nationally and internationally in strengthening the field of materials science and engineering and in delineating new directions for the field. He has an extensive background on the engineering fundamentals of materials science, and on the innovation of materials processing operations.

Dr. Flemings is currently a professor of materials processing and director of the Lemelson-MIT Program, a program at MIT that aims to honor inventors and to inspire inventiveness in young people. He previously served as co-director of the Singapore-MIT Alliance. He established the Materials Processing Center at MIT in 1979 and was its director from 1979-1982. He also served as head department of materials science and engineering, from 1982-1995, and thereafter returned to teach and research.

Former DuPont leader joins SunEthanol as CEO

SunEthanol announced that it has hired biofuels leader William Frey, Ph.D., as the cellulosic ethanol company’s new chief executive officer.

Previously, Dr. Frey led the efforts to commercialize advanced biofuels and new cellulosic process technologies being developed by DuPont. Frey was one of the first business development leaders who established the DuPont Bio-Based Materials business in the late 1990’s, now known as DuPont Applied BioSciences. He personally led the team that developed DuPont Biofuels as a business unit in 2002, and has broad partnership experience with industry leaders such as BP, British Sugar, Tate & Lyle and Genencor, a division of Dansico, as well as significant experience in working with global government agencies, including the U.S. Department of Energy. Dr. Frey had been with DuPont for 28 years prior to accepting the position as CEO of SunEthanol.

Oil Purification Systems joins WasteWise Program

Oil Purification Systems (OPS) is participating in the United States Environmental Protection Agency’s (EPA) WasteWise program.

As a WasteWise endorser, OPS will help promote environmental sustainability to its customers, partners and suppliers, will continue to bring attention to the important issue of reducing waste oil and will work with other WasteWise members to create positive partnerships that will encourage additional awareness of environmental issues.

WasteWise is a free, voluntary EPA program through which organizations eliminate costly municipal solid waste and select industrial wastes, benefiting their bottom line and the environment. WasteWise is a flexible program that allows partners to design their own waste reduction programs tailored to their needs, and also provides free technical assistance to help organizations develop, implement and measure waste reduction activities.

U.S.-Asia container lines raise recovery surcharges

Westbound Transpacific Stabilization Agreement (WTSA) lines will raise their bunker surcharges, effective July 1, 2008, to $600 per 40-foot container (FEU), or the full formula level in effect at the time, whichever is lower. As of October 1, surcharge levels for all tariff and contract cargo will be increased to the full, floating bunker surcharge in effect at that time, and will then be adjusted monthly to float with fuel price fluctuations under the WTSA calculation formula.

WTSA is a voluntary discussion and research forum of 10 major ocean and intermodal container shipping lines serving the trade from ports and inland points in the United States to destinations throughout Asia.

Global 8 Environmental appoints new CFO

Global 8 Environmental Technologies, Inc., a developer of environmental technology solutions, announced the appointment of industry veteran, Carl Mennie to the position of chief financial officer.

Prior to joining Global 8, Mennie served as division controller for Allied Waste Industries, Inc. where he was one of only two controllers in the company’s western region to receive an award for excellence. Mennie was instrumental in improving the overall quality and accuracy of accounts receivable, reducing expenses, maximizing efficiency and implementing key controls for Sarbanes-Oxley compliance regulations.

Mennie also served as a senior financial analyst for Household Credit Services where he was responsible for budgeting and forecasting the financial and statistical performance of several operational departments, including customer retention and fraud detection.

ThermoEnergy announces results for first quarter

ThermoEnergy Corp. reported total operating revenue of $409,000 for the first quarter ended March 31, 2008 compared to $73,000 for the quarters ended March 31, 2007. The Company’s water subsidiary CASTion reported $226,000 in revenue, while the Power Group contributed $183,000 in revenue.

The Company had total operating expenses of $1,654,000 for the first quarter 2008 compared to $821,000 for the quarter that ended March 31, 2007. Over one-third of the first quarter 2008 operating expenses represented the expense of options, and other one time expenses related to the consolidation of CASTion, and discount to convertible debt. Without these one time expenses, operating expenses for the quarter were flat from year to year including the increased staff from the CASTion acquisition and additional hires to help promote the ARP technology solution. Management believes that current operating expenses will support revenue and sales expected for the remaining of the year.

Loss per share was $.05 per share for the first quarter 2008, compared to the loss per share of $.03 for the same period in 2007.

CleanTech Biofuels promotes Michael Kime

CleanTech announced that Michael Kime has been promoted to the position of chief operating officer. Kime previously served as general counsel. He will continue in that role in addition to his new executive responsibilities.

Before joining CleanTech Biofuels, Kime was a partner in the St. Louis law firm Sauerwein, Simon, Blanchard & Kime, PC where he managed the firm’s corporate law practice. Kime serves on the board of directors of Missouri Votes Conservation, a bi-partisan environmental lobbying group.

Cartridge World names Joy James senior VP

Cartridge World announces the appointment of Joy James as senior vice president of business development.

James, who most recently served as managing principal of The Joy James Group (JJG), a management consulting firm that specializes in the imaging industry space, will be responsible for driving Cartridge World North America’s growth and spearheading the go-to-market approach in order to deliver small-to-medium sized businesses with complete printing solutions.

With nearly 15 years of experience in the printer cartridge aftermarket, James brings extensive experience in management. Prior to forming JJG, James co-founded InkCycle. In addition, James has built several aftermarket supplies companies during her career, including Environmental Reclamation Services and Dataproducts/Hitachi Koki Imaging Supplies division.

Peterbilt of Bristol named East trailer dealer

Peterbilt of Bristol, Inc., serving a nine-county region in the Bristol, Virginia area, was recently named an authorized dealership for East Manufacturing, offering the company’s full line of flatbeds, dump trailers and accessories.

With 31 employees in a 27,000 square foot facility, Peterbilt of Bristol has a 22-bay repair shop and also builds custom trucks. Established in 2002, Peterbilt of Bristol is located at 33392 Lee Highway, in Glade Spring, Virginia.

Federal Environmental Executive appointed

The White House announced that President George W. Bush intends to appoint Joseph Cascio, of Maryland, to be the next Federal environmental executive.

Cascio currently serves as a senior associate at Booz Allen Hamilton. Prior to this, he served as vice president of the International Resources Group, Limited. Earlier in his career, he served as vice president of the Global Energy and Technology Foundation.

SA Recycling acquires Pacific Coast Recycling

Sims Group Limited announced that SA Recycling, a joint venture between Sims Group and Adams Steel, has purchased Long Beach, California based Pacific Coast Recycling, LLC (PCR) from Mitsui & Co. Ltd. and its 100% subsidiary Mitsui & Co. (USA), Inc. The financial terms of the deal, including price, were not disclosed.

PCR operates seven facilities in California, including locations in the Port of Long Beach, San Diego, Fontana, and South Gate, processing both ferrous and nonferrous scrap metal with annual shipments of approximately 1 million metric tons.

Heil Environmental names Valley Truck as dealer

Heil Environmental has named Valley Truck and Trailer Service of Glendale, Arizona, as its dealer for the state of Arizona effective July 1, 2008. As the Heil dealer, Valley Truck will provide national, municipal and private customers throughout the state with Heil refuse and recycling collection vehicles, Heil Certified OEM replacement parts, Parts Inc. aftermarket parts, and complete vehicle service.

Located within the Phoenix metropolitan area, Valley Truck has provided complete service and support for medium and heavy-duty trucks in the region since 1984. Its 12,000-square-foot facility, situated on two acres, includes 12 service bays. The company also has a mobile service truck and parts delivery trucks, for maximum customer convenience.

Klinger named new director on Navistar board

The board of directors of Navistar International Corporation appointed Steven J. Klinger, president and chief operating officer, Smurfit-Stone Container Corporation, as a new director effective as of June 2, 2008.

Since joining Smurfit-Stone in May 2006, Klinger has been an important driver of the company’s three-year transformation process which includes reducing the company’s cost structure, streamlining the manufacturing process, upgrading the leadership talent, and aligning sales and marketing.

Klinger joined Smurfit-Stone following a 23 year career at the Georgia-Pacific Corporation where he most recently served as executive vice president, packaging, pulp and global procurement.

Newpark Resources chooses division leader

Newpark Resources, Inc. announced that William D. Moss, has been named president of Newpark’s Mats and Integrated Services business, effective June 2, 2008. He will be based in The Woodlands, Texas and is also an executive officer of Newpark Resources, Inc.

Before joining Newpark, Moss held management positions at BJ Services Company, most recently, since 1997, as division president of BJ Chemical Services, a provider of production and industrial chemicals, remedial pumping and capillary services to domestic and international customers. He previously served as director, logistics of BJ Services with responsibility for the worldwide logistics organization.

Sims Group acquires Clearhouse Technology

Sims Recycling Solutions, operating as Sims E-Recycling Pty Ltd. in Australia, expanded its asset recovery business in the end-of-life IT disposal market through the acquisition of the assets and business of Clearhouse Technology Pty Ltd.

Clearhouse Technology Pty Ltd. based in Melbourne, Australia was founded in 2003 and has grown to be one of the leading service providers in the region covering the collection, data protection, redeployment and remarketing of obsolete IT equipment for a variety of government and B2B customers.

Tony Nestola and Glenn Reid, founders of Clearhouse Technology will continue as consultants for Sims and will work closely with Kumar Radhakrishnan, senior vice president, APAC for Sims Recycling Solutions.

Hirschmann names new premier dealer

Hirschmann Automation and Control (PAT) located in Chambersburg, Pennsylvania, has named Columbus Equipment Co. as their new Premier Dealer for the state of Ohio.

Columbus Equipment Co. carries Hirschmann’s entire line of PAT, Krueger, and Hirschmann-branded load moment indicators, indicating devices, and sensors, including the iVISOR maestro LMI upgrade system.

Smurfit-Stone cements new appointments

Smurfit-Stone Container Corporation has named Kevin Rauber vice president and general manager of national accounts for the company’s recycling division, and promoted Anthony DiIenno to vice president of national accounts for the recycling division.

Rauber will provide overall leadership to the company’s waste services, non-paper sales and national account groups.

DiIenno will lead the national account sales team, as well as overseeing the division’s sales training program.

Rauber has more than 20 years of operations, sales, marketing and business development experience in the solid waste industry. Prior to joining Smurfit-Stone, he served as director of business development, sales and marketing for EnviroSolutions in Manassas, Virginia.

DiIenno joined Smurfit-Stone in April 2007 as director of national fiber procurement. A 22-year veteran of the recycling industry, he has extensive high-grade waste paper experience in domestic and foreign markets.

China Recycling Energy appoints new director

China Recycling Energy Corp. (CREG), an industrial waste-to-energy solution provider in China, announced that it has appointed Nicholas Shao of Carlyle Asia Growth Partners, as a member of the board of directors. This brings the total number of CREG directors to four.

Columbus-based recycler restructures management

Steve Grossman, president of The Grossman Group, Inc., a central Ohio waste recycling and marketing of recycling resistant materials business, has announced the reorganization of the company.

A new entity, Industrialbags.com, Inc. will continue The Grossman Group’s Industrialbags.com division’s business of manufacturing and sales of industrial strength bagging lumber wrap and other poly materials. The company’s recycling activities, including its recycling operations at its plant which is subleased from SWACO in Columbus, are being transferred to Grossman Environmental Recycling, Inc. The Grossman Group, Inc. will focus on its materials marketing business and environmental consulting while simultaneously sharing knowledge gained from its almost forty years of recycling experience with communities, non-profit organizations and other entities desiring to expand their recycling and waste reduction activities.

Nucor declares dividend plus supplemental payout

The board of directors of Nucor Corporation declared a regular quarterly cash dividend of $.32 per share on Nucor’s common stock.

In addition to the $.32 per share base dividend amount, Nucor’s board approved the payment of a supplemental dividend of $.20 per share, for a total dividend of $.52 per share. This cash dividend is payable on August 11, 2008 to stockholders of record on June 30, 2008, and is Nucor’s one-hundred forty-first consecutive quarterly cash dividend.

The supplemental dividend is based primarily on Nucor’s continued strong results. The payment of the supplemental dividend in any future period will depend upon many factors, including Nucor’s earnings, cash flows and financial position.

Constellation Energy acquires power plant

Constellation Energy announced it has completed the purchase of the West Valley gas-fired peaking plant near Salt Lake City, Utah, from a unit of Iberdrola Renewables, Inc. Constellation Energy assumed ownership and began operating the power plant earlier this month.

A 200-megawatt natural gas plant, the West Valley plant was owned by West Valley Leasing Company, LLC., but has been leased to PacifiCorp since the plant began commercial operation in 2002.

The West Valley plant operates during peak demand periods, such as hot summer and cold winter days. By permit design, the plant is limited to operating a certain number of hours per year.

Constellation Energy also is a part owner and operator of the Sunnyside Cogeneration plant, a power plant fueled by waste coal located outside Price, Utah.

ECO2 Plastics appoints new members to board

ECO2 Plastics, Inc., announced the appointment of Tom Hutton, John Moragne and David Buzby to the Company’s board of directors. The appointments are associated with the recent close of $6.5 million in financing led by Trident Capital and Thompson Hutton, LLC.

Tom Hutton joins the board as chairman, replacing William Whittaker who remains a director. Gary De Laurentiis, Ronald Domingue and Lawrence Krause have resigned their board positions, allowing the new members to be appointed. De Laurentiis, founder of ECO2, remains as the Company’s chief technology officer.

The experience of the new Board members is extensive; Tom Hutton served as a director of a number of private and public companies; David Buzby is a veteran of the recycling industry and investor in Clean Tech companies such as Sun Edison, where he serves as chairman; and John Moragne, co-founder and managing director of Trident Capital, who in addition to his venture experience, holds numerous directorships in both public and private companies.

ArcelorMittal acquires Canadian metals recycler

ArcelorMittal has signed an agreement to acquire Bakermet, a scrap metal recycler located in Eastern Ontario, Canada.

Bakermet, which specializes in all types of ferrous and non-ferrous metal, processed approximately 130,000 short tons of ferrous and 40 million pounds of non-ferrous metals in 2007. The plant, located near Ottawa, will secure upstream self sufficiency in shredded metal for ArcelorMittal’s Contrecoeur mill.

Caterpillar acquires certain Gremada assets

Caterpillar, Inc. and Gremada Industries, Inc. announced that Caterpillar will acquire certain assets of Gremada Industries. The acquisition agreement was signed on June 15, 2008, and the deal is expected to close upon completion of legal and regulatory requirements.

Gremada Industries is a leader in the processes of remanufacturing and reclaiming metal parts and components used in transmissions, torque converters and final drives. Gremada provides service support for off-highway equipment used in the mining and petroleum industries, and it has extensive experience providing remanufacturing expertise for equipment used for petroleum drilling applications.

Privately held Gremada is based in West Fargo, North Dakota, and has another nearby primary location in Fargo, North Dakota. The company has more than 200 employees, who will become part of Caterpillar’s Remanufacturing Division following the closing of the deal. Financial details of the agreement are not being disclosed.