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
Raser just announced that it has extended the agreement with its Thermo No. 1 financing partners to extend the final deadline for the completion of the plant from September 15 to October 1st. In addition to this extension agreement, other amendments are expected over the next couple of weeks to accommodate tax law changes in the American Recovery and Reinvestment Act of 2009.
In a press release, Richard Clayton, Raser’s Principal Executive Officer, commented on … Read the rest
Raser Technologies (RZ) is another development stage company, possibly on the verge of great things in the geothermal space. Despite the beating the stock has taken, I still think the long term picture looks great. The company reported record revenues with a whopping $410,000 in sales (it’s a start!) as the company begins selling power to Anaheim. They beat on EPS posting a loss of .06/share vs the estimate of .10/share
Some highlights of the … Read the rest
Raser Technologies (RZ) has entered into a term sheet with Southern California Public Power Authority to provide 110 MW of geothermal power to some SCPPA municipalities. The SCPPA would pay an up front cost, then additional monthly payments to Raser at a reduced cost. A term sheet isn’t a contract and non binding, so either party may end discussions at any time. Financials have not been disclosed either, so this isn’t news that has any … Read the rest
Raser Technologies just announced that its loan guarantee application has been cleared by the DOE and can move on to the next step in the due diligence process. If approved, the loan guarantees would finance 80% of a geothermal project near Raser’s existing Beaver Co facility, allowing the company to expand its geothermal capacity by 42 MW.
In a press release, Raser CEO Brent M. Cook said “This announcement from the DOE demonstrates that … Read the rest
Prez Obama spoke at Nellis Air Force base today discussing the importance of renewable energy and announcing funding efforts for solar and geothermal. Nellis Air Force base is home to the largest solar installation in the Western hemisphere and provides 25% of the electricity for the 12000 who live and work at the base, saving the military about $1 million a year.
Here are some highlights of the speech..
“America produces less than 3 percent … Read the rest
Raser Technologies (RZ) popped nearly 20% today once news was released that it will showcase the 100 mpg Electric Hummer H3 at the US Capitol tomorrow at 2pm EST, allowing members of Congress to test drive the vehicle. No way I’d let Barney Frank get behind the wheel of the Hummer, let alone a riding lawn mower. At any rate, should be a good photo op for Raser which will supply the power train for … Read the rest
Raser Technologies just announced that it has received the Geothermal Power Plant of the Year Award at the annual ELECTRIC POWER Conference. The award recognized Raser’s first geothermal plant for its "key technologies and developments for power generation plants," according to a company press release.
"We are honored to be recognized by the industry and our peers for our efforts and success in building an exemplary power plant. We are continuing to develop our … Read the rest
Raser Technologies (RZ) reported earnings this morning a bit better than expectations with a loss of .10/share vs expectations of a .12/loss. The financial results this quarter aren’t all that important in my opinion since the company won’t begin booking revenues for its Hatch plant until next quarter. Here are some comments from the CEO..
“We are now delivering clean, renewable power from our Hatch geothermal power plant to the City of Anaheim as part … Read the rest