Raser Starts Developing New Project

Raser Technologies, Inc. announced that it has initiated the development of a new geothermal project in Utah. This brings Raser’s total number of projects under development to eight, representing 80-85 megawatts (MW) of geothermal power projects initiated since April, 2007.

This new project includes a second 10-MW plant accessing the geothermal resource in Utah’s Escalante Desert. Raser’s portfolio now include three projects in Nevada, three in Utah, one in New Mexico and one in Oregon.

“We continue to move forward in building a pipeline of geothermal projects,” said Brent Cook, Raser’s CEO. “The results from the first Escalante Desert project in Utah were encouraging. Based upon preliminary results of the wells on the first project as well as data from other wells in the area, we are moving forward on a second 10 MW power project at this time. This may also give us some economies of scales for the well field development and accelerate the rapid deployment for both projects.”
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