Raser Technologies filed their earnings release today with no surprises. The company continues its path from a development company to a trading company and holds steady with their language and posture toward that shift.

The net loss for Q1 amounted to $4.6M, up from $3M this time last year. Revenue increased to $0.12M from $0.03M in the same period last year. Net cash improved due to the repayment of a note by AMP Resources and a private placement of $12.5M in the quarter bringing the net cash to $19M.

Raser has stated it believes it has sufficient cash to develop two, 10MW binary plants and bring them online working toward bringing 100MW per year online over time. Our research suggests that one 10MW binary plant is likely to cost $34M to develop and bring to operational state, it could be Raser is seeing something we’ve not yet encountered, but it could also be misplaced optimism in development.

The company continues its aggressive stance toward development, and that is a good thing.

This entry was posted on Thursday, May 10th, 2007 at 6:31 am and is filed under Business, Geothermal.