TAS Energy Awarded Contract for Geothermal Binary Plant

Press Release  |  Feb 24, 2011

HOUSTON - (BUSINESS WIRE) – TAS Energy, Inc. ("TAS") today announced it was awarded a contract by USG Oregon, LLC, a wholly-owned subsidiary of U.S. Geothermal Inc., a leading renewable energy company, to provide a modular binary geothermal power plant for the Neal Hot Springs project in eastern Oregon. The plant is expected to be commissioned in the middle of 2012.

The Neal Hot Springs project is the first geothermal project to obtain a loan guarantee under the Department of Energy’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. The DOE’s Loan Programs Office finalized the loan guarantee, which will guarantee the loan to the Neal Hot Springs project from the U.S. Treasury’s Federal Financing Bank.

Geothermal energy is a clean, environmentally friendly, sustainable method of electrical power generation. The project will utilize three modular TAS Advanced Supercritical Organic Rankine Cycle systems to generate up to 25 MW’s of renewable, baseload power to US Geothermal’s power purchaser, Idaho Power Company.

“TAS is excited to participate in the Neal Hot Springs project and look forward to demonstrating innovations in technology to tap into under-utilized geothermal resources,” said Craig Hurlbert, CEO of TAS. “The Neal project is a great example of private capital converging with government stimulus to deliver clean and secure energy to the US while simultaneously growing our country’s manufacturing capacity.”

About TAS Energy, Inc.

TAS Energy, Inc. is a technology company providing clean economic power solutions by focusing on the energy efficiency and renewable energy markets. TAS designs and manufactures modular energy conversion and cooling systems for the power generation industry; district, commercial and industrial process cooling; mission critical; and the renewable energy sector. TAS specializes in high efficiency standard product designs optimized for high life cycle return performance. Its product capabilities include geothermal and industrial waste heat power generation solutions, gas fired generation augmentation, chilled water systems, modular data centers and clean heat and power on-site energy systems. More can be learned at www.tas.com.