TAS Energy Selected as Innovative Clean Energy Technology Supplier for the US Geothermal Neal Hot Springs Project

Press Release  |  Jun 23, 2010

U.S. Geothermal has selected TAS Energy Inc. (“TAS”) to supply high efficiency, modular, clean energy power plant technology for its Neal Hot Springs geothermal power plant in Eastern Oregon.

U.S. Geothermal Inc., a renewable energy company, on June 10, was offered a conditional commitment for a $102.2-million loan guarantee from the U.S. Department of Energy ("DOE") to construct the planned 22-megawatt-net power plant at Neal Hot Springs. This is the first geothermal project to be offered a conditional commitment for a loan guarantee under DOE's Title XVII loan guarantee program, which was created by the Energy Policy Act of 2005 to support the deployment of innovative clean energy technologies.

"This conditional commitment provides our company with access to low cost capital and is a major milestone accomplishment.  Neal Hot Springs is one of several important development opportunities for U.S. Geothermal that we believe will emerge over the next year or two, and we are grateful for this critical vote of confidence from the Department of Energy. We look forward to continued growth as a producer of clean, green electricity to our home region and beyond for years to come," said U.S. Geothermal President and Chief Executive Officer Daniel Kunz.

“There has never been a better time in the history of the power business to capture under-utilized resources in the geothermal and waste heat segments, and convert that thermal energy into baseloaded, green  power while simultaneously reducing emissions,” said Craig Hurlbert, CEO of TAS.  “We are excited about this relationship with U.S. Geothermal and look forward to many more projects together.”

TAS was selected as technology of choice because the TAS power plant offers many advantages over traditional binary plant systems.   The innovative high efficiency Organic Rankine cycle plant delivered using TAS modular design practices provides improved plant capital costs and optimized life cycle performance.  In addition, the TAS plant utilizes a non-flammable working fluid in the system that represents a low hazard and environmental impact. The Neal Hot Springs facility will consist of three modular TAS power plants.   Each modular unit is a fully functional power plant, allowing U.S. Geothermal to maximize project capital efficiency while bringing incremental power to market as the geothermal resource is further developed. The TAS modular plants will be factory built and designed for efficient, low risk site construction.

The Neal Hot Springs project will create high-quality American manufacturing and construction jobs. "TAS is excited to be a part of the Neal Hot Springs project where over 95 percent of the content of the TAS power plant is expected to be supplied by manufacturers from U.S. factories," said TAS founder and Chief Technology Officer, Tom Pierson.