Dow Poised to Use Thermatrix Thermal Oxidizer Technology
Thermatrix was allowed to continue operations under Chapter 11 bankruptcy protection on February 3, 2000. It plans to submit its final agreement with Dow to bankruptcy court for approval.
The company also announced the resignation of company chairman/president/CEO John T. Schofield. Stepping in as president is XVP/CFO Daniel S. Tedone, a 20-year industry veteran who will manage the company's operations and restructuring. Frank R. Pope, a long-time Thermatrix director and managing director of Critical Resources (San Francisco, CA), becomes chairman/CEO. He will assist in the restructuring.
Flameless Thermal Oxidation
According to Thermatrix, Dow will use flameless thermal oxidation as an alternative to incineration in a new, proprietary recovery process associated with a major capital investment program. Thermatrix has already begun design of the first FTO unit ordered under the agreement, and says Dow is currently considering a second order.
Dow's order is the largest system Thermatrix has supplied since it commercialized FTO seven years ago. In use at more than 100 installations worldwide, FTO uses pollutants as fuel to maintain oxidation in an inert ceramic bed.
FTO systems produce a uniform and stationary oxidation zone perpendicular to the flow of the contaminated air streams. The design takes advantage of heat transfer properties to ensure that all reactants pass through this highly reactive region.
According to Thermatrix, field tests show FTO destroys volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) efficiently, quickly, safely, reliably, and cost-effectively. Thermatrix's ability to control the process supports its implementation across a broad variety of industries and applications.
Finances
The financial terms of the strategic technology agreement with Dow comprise a significant component of Thermatrix's debt restructuring plan. The company says the agreement is significant for several reasons:
- It should help stabilize the uncertainty of our customers and employees regarding the future.
- Other companies will look closely at Dow's choice of Thermatrix FTO technology.
- The agreement makes a significant contribution to Thermatrix's future financial viability.
In addition to FTO, Thermatrix provides other air pollution control solutions and a broad range of engineered products and services. It also seeks to use FTO technology to treat emissions from mobile and stationary diesel engines.
"The Wahlco Air Systems and Wahlco Metroflex Divisions have been very successful in booking new business during the past six months," says Thermatrix president Tedone. "Their performance, coupled with the potential of the recently announced agreement with Dow Chemical, indicates that the company's business is robust and viable. Our strong client list is one of our most important assets as we proceed to restructure the organization."
For more information: Daniel S. Tedone, President, Thermatrix Inc., 308 North Peters Rd, Suite 100, Knoxville, TN 37922. Phone: 423- 539-9603, Ext. 3207. Fax: 423-539-9643.
By Alan S. Brown