Raser Technologies, Inc. (RZ) Announces Project Funding
Raser Technologies, Inc. (NYSE Arca: RZ), a publicly traded, environmentally focused technology licensing and development company operating in two business segments (Raser’s Power Systems segment and Raser’s Transportation and Industrial Technology segment), recently announced the closing of initial funding under a definitive agreement that provides project financing for Raser’s 10-megawatt (MW) Thermo geothermal power project near Beaver, Utah. The company’s proprietary geothermal plant is designed to produce 10 MW of electrical power, or enough to power approximately 9,000 homes, with zero emissions using PureCycle® geothermal power systems. The funding arrangement provides non-recourse debt financing and tax equity capital to construct…