Raser Receives Seven Geothermal Power Units from UTC Power

In connection with its development of geothermal power plants, Raser also announced today the delivery of the first seven UTC Pure Cycle® units to Utah. Each 10 MW power plant will require 45 to 50 of these binary cycle units to generate green renewable electricity. Under its agreement with UTC, Raser has begun to take delivery of the first units.

“We are pleased with the progress that we are making on several fronts of our geothermal power program,” stated Brent M. Cook, Raser’s CEO. “Our rapid deployment strategy is gaining momentum as we progress with well field developments, receive power plant units from UTC and finalize PPA discussions with a number of utilities. The two additional projects we announced today embody the great work that our geothermal team is accomplishing behind the scenes.”

Raser Adds Two New Geothermal Projects in Oregon & Utah

Raser Technologies has initiated the development of two additional geothermal projects. This brings Raser’s total projects under development to seven, representing 70 -75 megawatts (MW) of power projects initiated since April, 2007. Raser announced in April, 2007 that it would initiate the development of approximately 100 MW per year over the following three years and then ramp up to 150 MW per year for each year thereafter. The two additional projects announced today include a second 10 MW plant in Utah and the Company’s first 10 MW plant in Oregon. The Company’s projects under development now include three projects in Nevada, two in Utah, one in New Mexico and one in Oregon. read more