By now, most people familiar with the geothermal power industry are aware that Raser Technologies, Inc. has recently emerged from bankruptcy and filed a legal action against UTC Power Corporation and Pratt & Whitney Power Systems, Inc. The lawsuit alleges that UTC Power andPWPS defrauded Raser in connection with the sale of PureCycle® power generation units for construction of a geothermal power plant at a site called Thermo 1 in southern Utah. As has been expressed in other public statements, UTC Power and PWPS deny Raser’s allegations and will vigorously defend the lawsuit.
As the lawsuit progresses and the truth regarding the Thermo 1 project comes to light, the geothermalpower industry will discover valuable lessons that can be learned from the Raser experience. As the legal process does not typically move at the speed of business, this article attempts to provide a brief overview of the Raser story and the lessons that should be gleaned by the industry. Keep reading →