Raser Tech (RZ) Extends Final Date for Thermo No. 1 Project
Raser Technologies, Inc. (NYSE: RZ) announced today that it reached an agreement to extend the Final Completion Date for the Thermo No. 1 project from June 30, 2010 to July 9, 2010, after which time Raser expects to provide an update on the project, including final payment arrangements to the financing parties from the U.S. Treasury grant proceeds received earlier this year.
Construction on the Thermo No. 1 project began in July 2008 and the plant began selling electricity to Anaheim, CA in April 2009. In February 2010, Thermo No. 1 received $33 million dollars from the U.S. Treasury Department under the Section 1603 renewable energy grant program created by the American Recovery and Reinvestment Act of 2009.
Construction on the Thermo No. 1 project began in July 2008 and the plant began selling electricity to Anaheim, CA in April 2009. In February 2010, Thermo No. 1 received $33 million dollars from the U.S. Treasury Department under the Section 1603 renewable energy grant program created by the American Recovery and Reinvestment Act of 2009.
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