Raser Technologies Chairman Joins Governor Bill Richardson In Announcing The First Geothermal Power Project in New Mexico

Raser Technologies today joined with New Mexico governor Bill Richardson, former United States Secretary of Energy, to announce the beginning of the construction phase of the first commercial geothermal power project in New Mexico. Raser Chairman Kraig Higginson introduced Raser’s geothermal power project at Lightning Dock near Animas, New Mexico along with its unique geothermal development process. Joining Mr. Higginson and Governor Bill Richardson in the announcement were other state officials including Fred Mondragon, Director of Economic Development, and Mark Fesmire, Director of the Oil Conservation Division for the State of New Mexico.

“In the clean energy state of New Mexico, we are working hard to bring more renewable energy online,” said Governor Richardson. “Our state has already shown leadership in developing wind and solar energy resources. Now we are proud to be one of the first states to deploy new technology with Raser, that will help unlock our geothermal resources for power production without damaging our environment.”

The power plant will be one of the first in the country to use new low temperature geothermal power generation technology in a proprietary modular power plant design by Raser Technologies. Raser teamed with UTC Power, a United Technologies Corp. (NYSE: UTX) company, to develop a rapid deployment strategy utilizing their new PureCycle® power generation units that are now being delivered to Raser’s project site near Animas, New Mexico. This rapid deployment strategy significantly accelerates the time-line for developing a geothermal power plant. One of Raser’s UTC Power PureCycle® modular power generation units was on display at the governor’s office in Albuquerque on its way to be delivered to the site of the Lightning Dock power plant.

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