Raser Technologies of Provo, Utah (NYSE: RZ) will purchase an additional 110 geothermal power systems from UTC Power, a United Technologies Corp. (NYSE: UTX) company, according to a company release.
The order is in addition to 90 systems ordered last year.
Raser has initiated 80-85 megawatts (MW) of geothermal power projects since April, 2007, when the company announced it would initiate the development of approximately 100 MW per year over the following three years and then ramp up to 150 MW per year for each year thereafter.
Raser began taking delivery of the UTC Power systems ordered last yearin the fourth quarter of 2007 and all 200 units will be delivered by theend of this year. UTC Power also will maintain these units.
About Raser
Raser is a green-focused technology licensing and development company operating in two business segments. Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron(TM) technology developed internally by its Transportation and Industrial Technology segment. Raser’s Transportation and Industrial Technology segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser’s award-winning Symetron(TM) technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications.
About UTC Power
UTC Power, a United Technologies Corp. company, is afull-service provider of environmentally responsible power solutions. With50 years of experience, UTC Power is the world leader in developing andproducing fuel cells for on-site power, transportation, space and defenseapplications, as well as a leader in innovative, renewable energy solutionsand combined cooling, heating and power solutions for the distributedenergy market.
Loading...