Raser Technologies gets extension on power plant financing forbearance

By Caroline Salls

Pittsburgh, Feb. 2 - Raser Technologies, Inc. has entered into a second amendment to its consent and forbearance agreement related to the repayment of a substantial portion of the debt financing for its Thermo No. 1 geothermal power plant, according to an 8-K filed with the Securities and Exchange Commission.

Under the amendment, the forbearance period was extended to March 15.

However, the period will be extended to April 15 if Raser provides the lenders with a letter of intent for a qualifying sale or other transaction yielding $6.75 million by March 15.

Provo, Utah-based Raser is a technology licensing and development company focused on geothermal power generation.

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