RZ Raser Technologies Provides Update on Department of Energy Loan Guarantee Program
Raser Technologies
Raser Technologies, Inc an energy technology company, loan was denied from their application for its project “East Thermo” the letter was received from the Department of Energy, and stated “we believe that the East Thermo project possesses fundamental strength, but would benefit from continued development….”
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Raser Technologies, Inc, (Raser) is a geothermal power development and technology licensing company. The Company operates in two business segments: power systems, and transportation and industrial technology. The power systems segment develops renewable geothermal electric power plants and bottom-cycling operations. The transportation and industrial technology segment focuses on using its Symetron family of technologies to improve the efficiency of electric motors, generators and power electronic drives used in electric and hybrid electric vehicle propulsion systems. Raser has accumulated a portfolio of geothermal interests in four western continental states and a geothermal concession in Indonesia. It has initiated the development of eight geothermal projects in its Power Systems segment. As of December 31, 2008. Its transportation and industrial segment focuses on electric motor, generator and drive technologies.
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