Raser Technologies, an electric motor and generator maker in Utah, has announced this week that it has identified several targets for a drilling program on geothermal properties in Nevada. Raser had something of a false start with a planned acquisition of AMP Resources that was not consummated, but it appears they are on track to use a license of the Kalina binary cycle technology from AMP coupled with their generators to develop geothermal properties and plants. Raser’s greenfield projects will be instructive to observe as they progress through time.
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Raser identifies Nevada drilling targets
03.09.07 | 1 Comment
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« Woolsey is right
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>>A company like Raser Technologies (NYSE: RZ) on the other hand, still trades at more than 2,500 times revenues. This self-proclaimed developer and licensor of advanced motor technology shows a grand total of $440,000 in revenues across its five-year existence and has burned up millions in cash, staying afloat by issuing more shares.
Now it’s riding on a (to my mind) nutty, headline-leeching, and doomed-to-failure initiative as an eco-energy play, having signed leases for geothermal resources that it claims it will develop as revenue sources. And there’s a bonus: an as-yet-unexplained method by which Raser will “monetize” tax incentives owed its yet-to-be-started geothermal plant. Since these have been extended through 2008, I can only assume Raser will be setting a land speed record for geothermal power-plant construction.