Raser just announced that its electric Hummer was able to 50 miles on its battery only in a driving test. The course used included both simulated highway and city driving conditions, and speeds of up to 60 mph.
In a press release, Jim Spellman, Vice President of Business Development, explained the test results and their significance:
“I am very proud of our team and their work to reach this important milestone. Battery range of … Read the rest
Raser Technologies just announced that it has restructured its existing $15 million credit line. It paid off some of the balance and got an extended repayment date for the rest. As part of the new agreement terms, Raser paid off $2.9 million of the principal and $0.4 million worth of accrued interest. The company got an extension of the maturity date on the remaining $10.5 million to July 31, 2010. However, the main lenders can … Read the rest
Okay, so this isn’t quite as sexy as a 100 MPG hybrid hummer, but Raser just announced that its new Hatch Geothermal Power Plant is up and running in Utah. Normally, geothermal plants take years to start production, but Raser took only 5 months to power up this plant.
How did they do it? Basically, the plant uses an organic Rankine cycle (ORC), with parts modified from industrial air conditioners. Using off-the-shelf, mass produced components … Read the rest
Raser Technologies Inc. is preparing to send geothermal power to the city of Anaheim as early as next week. The power will come from Raser’s Thermo plant in Utah. The plant has already been supplying some power, approximately 3.5 MW, to the city of Anaheim, and next week the company will begin to increase the amount of power that it sends.
Steven Brown, Raser’s executive VP, commented on the news:
… Read the rest“We are very pleased with