Raser Adds 50,000 Acres to Resource Portfolio

Raser Technologies Inc. announced that it has expanded its geothermal resources by acquiring 17 new lease parcels covering more than 50,000 acres of geothermal, surface and other rights in Utah as a part of the Bureau of Land Management (BLM) geothermal auction on Friday, December 19, 2008.

The new leases increased Raser’s total geothermal holdings to over 300,000 acres in five states. Under the lease agreements, Raser has rights to the geothermal resources and certain surface rights for the construction of geothermal wells, piping, power plants and transmission lines.

“We continue to carefully select additional resources for future development and to expand our geothermal portfolio,” said Dick Clayton, Raser’s executive vice president. “We believe these strategic acquisitions of federal geothermal resources significantly enhance our overall portfolio of federal, state and private lands.”

In a related story, earlier this week, Raser announced that it will listed on the New York Stock Exchange’s Big Board.

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