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 … Read the rest
Raser Technologies (RZ) announced this morning that it has begun drilling in New Mexico at the Lighting Dock project. The company is re-entering a well that was abandoned more than 25 years ago because the water wasn’t hot enough. New technologies allow geothermal energy companies to extract energy from lower temperatures, so the company is giving it another go. An independent firm estimates the well could deliver 3-7MW of energy, while Raser believes the project … Read the rest
Raser Technologies (RZ) surged nearly 20% today after the company decided to cancel its plans to raise cash through equity offerings. The reason? The company felt that the dilution was hurting the stock price too much! No sh@$#@t. You have to wonder about the brains behind this operation if they didn’t realize more equity offerings would weigh on the stock. I’m sure it’s been done, but I don’t believe I have ever seen a company … Read the rest
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Raser just announced that it has been chosen as the sole-source contractor for an Indonesian geothermal feasibility study by Indonesia Power (IP). Indonesia Power was awarded a grant of $934,308 by the United States Trade and Development Agency for the study, which will examine the feasibility of developing geothermal power in the Tangkuban Perahu geothermal concession.
The grant covers about 70% of the cost of the … Read the rest
It’s been a mighty rough year for Raser Technologies (RZ). With broken promises and financing concerns weighing on the stock, it trades down around a buck while many of its green stock peers move to new 52 week highs. It’s still a mighty speculative play, but the reward vs risk may be improving down here (a break below the buck level would change that view point).
After the bell yesterday Cantor Fitzgerald initiated coverage of … Read the rest
What started out as a shaky day for A-Power Energy (APWR) has turned into a great day. The stock is surging off the lows of the morning after missing analyst expectations and has announced two new deals. The first was the construction contract with Tieling Cement and now the company is announcing it has signed an agreement with Pakistan Amraas Intl to construct and operate two 25MW biomass power plants as well as a geothermal … Read the rest
Ormat Technologies (ORA) is announcing this morning that one of its subsidiaries has secured a 20-year power purchase agreement with Nevada Power Company to purchase 30MW from the McGinness Hills Geothermal project, which is currently under construction and expected to come online in about two years.
Once the McGinness project is completed and running at full speed, Ormat will provide roughly 135MW of geothermal power to Nevada Power, which will get the utility into compliance … Read the rest
Ormat Technologies (ORA) posted another strong quarter as earnings increased 48% over the year ago quarter on revenues that increased 20%. The company reported an EPS of .52/share which smashed analyst estimates of .37/share. Revenues also beat analyst estimates coming in at $119.8 million vs Wall St estimates of $99.4 million.
Nearly all the growth over the past year has come in the company’s Product Segment due to a record backlog at the beginning of … Read the rest
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 … Read the rest
Raser Technologies (RZ) has always been a company looking for a good press release or PR opportunity. From the ceremonial ribbon cutting announcements at its Utah plant to the Hybrid Hummer, the press releases continue to flow. But is the hype justified at least in terms of its geothermal operations? Maybe not.
According to an article in the Salt Lake Tribune, the company is buying almost as much power (4MW) to keep the lights … Read the rest