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

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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.




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This article appears in: Investing , Commodities

Referenced Stocks: HTM

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