UTC Power Geothermal System Used by Raser Named R&D 100 Award Winner

SOUTH WINDSOR, Conn., July 10 /PRNewswire-UTC Power, a United Technologies company, today announced that its PureCycle(R) geothermal power system developed with United Technologies Research Center in East Hartford, Conn., has been recognized by R&D Magazine as one of the 100 most technologically significant products introduced during the past year. On April 12, 2007, UTC Power and Raser announced an long-term agreement to work together using the PureCycle geothermal systems at many of Raser's geothermal sites.

Chena Hot Springs Resort is one of the first sites to use the PureCycle system. The resort is 60 miles from Fairbanks, Alaska, and 35 miles off the power grid. It has the first geothermal power plant in Alaska and is the site of the lowest temperature geothermal resource (165 degrees Fahrenheit) ever used for commercial power generation in the world. Prior to the operation of the power plant at Chena, the lowest temperature geothermal resource ever developed for commercial power generation was 208 degrees Fahrenheit.

Geothermal systems are recognized as the most reliable form of renewable energy available because they do not depend on clear skies, windy days or rainfall. Although geothermal energy addresses many of our national concerns, its potential is largely untapped. UTC Power's PureCycle system represents an innovative advancement in geothermal energy production that offers the possibility of tapping into significant U.S. geothermal reserves for a domestic, renewable, continuously available source of power to meet our growing energy demands.