- Services
- Solutions
- Cleantech Forum events
- Jobs
- About us
Raser signs eight more geothermal leases
April 26, 2007
print
reprintRaser Technologies (NYSE Arca: RZ) has secured additional geothermal rights in its home state of Utah.
The company says it has signed eight lease agreements, marking a third batch of geothermal leases outside its historical Nevada focus, and are part of its strategy to establish a diversified geothermal resource portfolio.
Raser says it has secured the rights to the geothermal resources on 9,889 acres located in Central Utah. The leases carry ten-year terms and are renewable for additional periods based on development activity or upon the payment of minimum rental payments, it said.
The financial terms of the leases were undisclosed.
According to the company, oil and gas wells in the vicinity of the new leases encountered hot water at temperatures usable by Raser for generating power.
These leases bring the total land Raser has under lease in Utah to 28,091 acres.
“We continue to acquire access to the geothermal resources that we believe lie underground in the Intermountain West as part of our strategy to develop this vital, green energy source,” said Brent M. Cook, Raser’s CEO.
“Not only is geothermal power environmentally friendly, but we also believe that it represents part of the United States’ solution for energy independence. The entire nation should be adopting renewable energy portfolio standards, particularly those states in the geothermally active West.”
Raser is a publicly-traded technology licensing and development company. It focuses on geothermal power, as well as transportation and industrial technology to improve the efficiency of electric motors and other applications.
Coverage brought to you by
Cleantech developments making news in the past 24 hours
View the last week of cleantech developments here | Subscribe to full feed 
Comments
Geothermal
Submitted on April 26th, 2007 by InterestedReaderI would like to see more emphasis on Geothermal development and less on nuclear as I think that Geothermal should eventually be able to replace our nuclear plants. Not only is Geothermal clean energy but it comes without the hazards that make nuclear a dangerous technology. I don't think that 150 or so nuclear plants in the world can operate indefinitely without some type of accident ocurring. It is not such a matter as "if" as a matter of "when".
We spend so much time and effort insuring the safety of our country, yet, one single mishap at one our nuclear plants could be far worse than 9/11.
I think our government needs to fund research into advanced high heat drilling systems as well as in anti-scaling pipe for geothermal plants. We have recently ocean-drilled to within a thousand feet of the mantle. We are also able to take advantage of relatively low temperature rock using a double loop syatem but I think the real returns will come with really hot rock that is cracked between two deeply drilled holes through which water enters from one hole and becomes steam by the time it reaches the other to produce power.
adrianakau@aol.com
Post new comment