Raser Secures Second 50-Year Geothermal Lease

Raser Technologies has secured geothermal rights to the McGee geothermal lease properties in Nevada under the terms of a 50-year lease agreement. This is the second such agreement Raser has made as it pursues its development stage business plan to establish a geothermal power generation business.

“We suspect that the property covered by this new lease is part of a different geological fault structure than the majority of the previously leased properties and helps diversify our geothermal product opportunities,” said Brent M. Cook, CEO of Raser. Raser may begin development and construction of geothermal power plants on the leased lands located in Nevada. The leased properties are within a few miles of the previously leased acreage and are suspected to lie in a different geological fault area, namely the U.S. Geological Survey’s (USGS) “known geothermal resources area” (KGRA), which are either areas of obvious geothermal activity such as hot springs designated by USGS, or areas where applications to lease a property overlap to such a degree as to indicate strong geothermal potential.