Referenced Stocks

U.S. Geothermal Subsidiary Receives $10.7 Mln Grant from U.S. Dept of Treasury - Shares Up 2%

By Midnight Trader,  November 15, 2012, 01:21:36 PM EDT

U.S. Geothermal Inc. ( HTM ) is up 1.5% to $0.335 after the renewable energy development company said that its wholly owned subsidiary USG Nevada LLC received its $10.7 million cash grant from the U.S. Department of Treasury.

The cash grant is for Specified Energy Property in Lieu of Tax/Credits relating to the San Emidio geothermal power plant under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009. An existing $7.5 million bridge loan and its associated administrative costs have been paid in full with the balance of $2.9 million retained by the company.

HTM is trading in a 52-week range of $0.26 - $0.71. Shares have increased 24% in the last 12 months.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: HTM



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