Raser Receives First 50 Power Generation Units from UTC Power

Raser Technologies Inc. announced that it has taken delivery of 50 UTC Power geothermal power generating units that the company ordered for the first geothermal power plant to be built in the state of Utah in more than 20 years.

UTC Power has shipped the first 50 generating modular units that will generate electricity from Raser’s geothermal resources. The geothermal plant is planned to have a gross generation capacity of 14 megawatts (MW) when configured under Raser’s proprietary geothermal power plant design. Each 50-unit project is designed to produce net power generation of 10 to 11 MW that will be purchased by utilities.

“We are excited about the progress to date on this first wave of projects and have a number projects being prepared for additional waves. We expect to start sending these first 50 generating units to the Thermo site in the August-September time frame so that the plant will be operational in October,” said Brent Cook, CEO of Raser Technologies.

“We are nearing completion of all the conditions to close on the first construction funding from Merrill Lynch. We expect to be very busy over the next few months as we begin completing the first wave of projects.”

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