Raser Plans Two New Geothermal Projects

Raser Technologies, Inc. has announced that it has started 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.

In connection with its development of geothermal power plants, Raser also announced 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 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,” said Brent 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.”

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