Raser Technologies, Inc. (NYSE Arca: RZ) , a technology licensing company, reported that it has secured geothermal rights to certain Nevada properties owned by Truckee River Ranches, LLC, under the terms of a 50-year lease agreement.
Brent M. Cook, CEO of Raser, stated, "This lease offers Raser an excellent starting point to launch into the geothermal power generation spaces utilizing our recently acquired heat-transfer technologies. We expect to move rapidly into the development phases of this exciting resource during 2007. We believe that developing geothermal power projects will be a significant addition to Raser's business."
The heat-transfer technology involves binary cycle generation, in which the steam or water from the geothermal reservoir never comes into direct contact with the blades of the turbine generator. This method has a competitive advantage when used for water-based geothermal resources of generally low temperature, ranging from approximately 93 to 183 degrees C, but it works at higher temperatures as well.
In a binary system, warm geothermal fluid is pumped to the surface and channeled into heat transfer equipment. The geothermal water is then used as a source to heat a "working fluid," which then vaporizes to turn the turbine generator. After the heat transfer process is complete, the now cooler water is returned to the reservoir.
The primary technical advantage of the binary method is its ability to efficiently convert more commonly found low temperature water resources into power through the use of working fluids that have a low boiling point. It also has the tremendous advantage of producing zero emissions, making it a renewable "non-polluting" energy source.
In exchange for $25,000 in cash and 25,000 shares of restricted Raser common stock, Raser may begin development and construction of geothermal power plants on Truckee's three major ranches north of Las Vegas. Upon completion of the first such plant, Truckee will receive an additional 25,000 restricted shares.
Raser’s primary product is Symetron(TM) motor and drive technology (previous post), which is designed to take electric motor technology closer to its theoretical limit.
Its good to see another company entering this pollution free renewable energy market which has a huge potential.