Raser Technologies (RZ) Expands Geothermal Land Resources

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09:38:12 pm on December 23, 2008

Raser Technologies (RZ) is busy finding land to lease where it can tap into the power of geothermal.  The company recently announced that it acquired 17 new lease parcels covering more than 50K acres in Utah as part of the Bureau of Land Management geothermal auction.  The land deal increases Raser’s holdings to over 300K acres in 5 states where the company has rights to geothermal resources and some surface rights for construction related to the geothermal plants. 

“We continue to carefully select additional resources for future development and to expand our geothermal portfolio,” stated 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. We feel it is imperative to our country’s energy independence and for the health of the environment that these geothermal resources be developed as rapidly as possible to meet the growing energy demands of our country with the clean renewable energy that lies just below our feet.”

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