Raser Technologies (RZ) Moving On Financing Extension

Posted by Tate Dwinnell | # |
01:45:22 pm on October 16, 2009

Raser Technologies (RZ) is getting a pop here on news that it has signed an additional extension with its financing partners for its Thermo plant which allows the parties time to finalize amendments to financing agreements.  The previous deadline was  today and this extension allows for another two weeks to amend financing agreements due to recent tax law changes under the American Recovery and Reinvestment Act of 2009.

The company issued the following statement: “Finalizing these amendments will allow us the flexibility we need to complete Thermo No. 1 and to continue developing our extensive geothermal capabilities and the infrastructure necessary to deliver clean, renewable energy efficiently and cost-effectively now and in the future.”

RZ has had a rough few months following setbacks on geothermal output and financing concerns, but has stabilized in recent weeks. 

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