Raser Technologies (RZ) is headed to the minor leagues after trading below a buck for far too long. The company tried to submit a business plan to the NYSE to try to buy more time, but the NYSE said not a chance and will suspend trading in RZ after November 2nd. That means it will will trade over the counter beginning November 3rd and it will likely be a long time before they ever see … Read the rest
Tag Archives: RZ
Ormat (ORA) To Build Raser Technologies (RZ) Lightning Dock Geothermal Project
Raser Technologies (RZ) technologies has announced this morning that Ormat (ORA) will provide engineering, procurement and construction services for its Lightning Dock geothermal project in New Mexico. Ormat will also provide the equipment which includes two larget Ormat binary generators and all above ground equipment.
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“We are excited to work with a veteran in the geothermal business,” said Project Manager Mike Hayter. “Ormat is … Read the rest
Raser Technologies (RZ) Gets A Boost With $15 Million In Financing
It’s been a mighty rough go for Raser Technologies (RZ) in recent months and if the stock price is any indication, many traders feel the company may not survive. Well, the company is finally getting some positive news which could lead to a recovery in the short term.
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It was announced this morning that a collaboration of FE Energy Group and Evergreen Clean Energy … Read the rest
Raser (RZ) To Deliver Extended Range Electric Trucks To PG&E This Year
Raser Technologies just announced that it will be delivering the first of its extended range electric fleet trucks to PG&E next year. The electric trucks use a combination of lithium-ion batteries and an onboard, gasoline powered generator called a “range extender.”
Raser also plans to offer the E-REV powertrain used in these vehicles in popular GM and Ford trucks and SUVs.
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In a press release, … Read the rest
Raser Technologies (RZ) Makes Debt Payment, Considers Selling Interest In Thermo 1
Raser Technologies (RZ) has agreed to pay $27 million to the lender that provided the financing for the Thermo 1 geothermal power plant right away along with another $6 million within the next year. In exchange, the lender will waive compliance with applicable debt related covenants and obligations for the next year.
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As part of the process to establish the value of the company portfolio, Raser … Read the rest
Raser Technologies (RZ) Thermo Project Given More Time To Complete
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) To Develop Solar Power & Electric Cars With Hyundai Heavy Industries
Raser Technologies (RZ) is surging 25% this morning after announcing it will develop solar power and electric cars with Korea based, global manufacturer Hyundai Heavy Industries. This is the same company working with American Superconductor (AMSC) to develop wind energy.
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This isn’t yet a done deal with contracts signed, but the two companies have signed a memorandum of understanding to co-develop solar power and electric vehicles … Read the rest
Raser Technologies (RZ) Begins Drilling At Lighting Dock
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) Surges After Canceling Equity Offering; Reports In Line AH
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
Raser Technologies (RZ) To Begin Drilling At Lightning Dock, New Mexico In May
Raser Technologies just announced that it has chosen Barbour Well, Inc., of Henderson, Nevada as its drilling contractor for the Lightning Dock, New Mexico project. Drilling is expected to begin next month, in May. They will start by re-entering an old well drilled in 1984 and left idle waiting for development that never happened.
Raser expects the Lightning Dock project to qualify for a grant of approximately $22 million under the American Recovery and Reinvestment … Read the rest