Raser reaches agreement with Thermo No 1 financiers, seeking $33m in stimulus funding

US energy company Raser technologies has reached an agreement with its financiers over its Thermo No 1 geothermal plant. After nearly three months of negotiations and extensions, the new financing arrangements will allow the company to apply for a $33m American Recovery and Reinvestment Act energy stimulus grant, which will allow it to become the sole owner of the plant.