In an article a few days ago, US Today highlighted 3 innovative renewable energy companies that may be big players in the future. One is publicly traded geothermal upstart Raser Technologies (RZ) which is able to get plants up and running quickly while tapping into cooler sources of water for energy. It recently completed its first commercial scale geothermal plant, a 10MW geothermal plant in Utah in just 6 months and plans to begin … Read the rest
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Raser Technologies (RZ) Inaugurates First Commercial Scale Geothermal Plant
Late yesterday, Raser Technologies (RZ) inaugurated its first commercial scale geothermal power plant (called Thermo) in Beaver County, Utah and the 10MW plant (enough to power 7000 homes) is expected to begin supplying energy to Anaheim. The plant was built in just 6 month using Raser’s revolutionary modular construction design.
Raser is using technology developed by United Technologies (UTX) to generate electricity from underground water at temperatures much lower than other technologies allowing the company … Read the rest
Raser Technologies (RZ) Announces Funding For New Geothermal Project
Raser Technologies, Inc announced that is has secured funding for a geothermal power project to be installed near Beaver, Utah. Once complete, the geothermal plant will use PureCycle® geothermal power systems to produce 10 MW of electrical power, enough to supply electricity to 9,000 homes. Since the plant is geothermal, the power produced will be emissions-free.
The terms of the funding agreement are as follows:
"The funding arrangement provides non-recourse debt financing and tax equity … Read the rest