Raser Technologies (RZ) Thermo Project Given More Time To Complete

Posted by Tate Dwinnell | # |
08:12:55 am on July 1, 2010

Raser Technologies (RZ) has reached an agreement with its financing parties which allows the company another 10 days to complete the Thermo 1 project at which time Raser expects to provide an update on progress including final payment arrangements from the funds it received from US Treasury.

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“This extension will give us time to work with our project financing partners in evaluating the performance of the plant and final distribution of the funds from the Treasury grant still in escrow,” commented Raser’s Executive Vice President Dick Clayton.

Shares of RZ are ticking a bit higher this morning on the news.  The stock has had quite a bit of trouble in recent days getting back above resistance of the 50 day moving average.

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