Geothermal

Raser Secures Two Geothermal Power Generation Leases

Under the terms of two lease agreements, Raser Technologies, Inc. has secured additional geothermal rights in central Nevada within the vicinity of its other geothermal leases; both are in the U.S. Geological Survey’s Known Geothermal Resource Area (KGRA).

The first lease is a 50-year lease, providing Raser with the right to develop and construct geothermal power plants on 155 acres. In the second lease, the lessor assigned to Raser all of its rights under an existing geothermal lease of 240 acres with the United States Department of Interior, Bureau of Land Management (BLM). The terms are similar to those of other geothermal leases Raser has secured in the area. “Given the national mandate to diversify national energy resources away from petroleum-based products and utilize green, renewable resources, demand for geothermal resources has increased,” said Brent M. Cook, CEO of Raser. “One of these new sites is particularly attractive to us since a geothermal well was previously drilled on the property. This existing well can assist in our documenting thermal gradient information in the area.”