Thursday, January 19, 2006

Raser Buys Power Generation Firm For $60M

Provo, Utah-based Raser Technologies is reporting that it has acquired Amp Resources, a company focused on technologies in the power generation field. The deal is approximately $60M, including 10 million shares of Raser common stock and $38M in cash. Raser is a technology licensing company focused on electric motor, power generation, and other related technologies. Raser said that it will acquire Amp's portfolio of technologies for heat transfer and renewable power generation, and also assume ownership of Amp's geothermal energy sales contracts. Raser was advised by JP Morgan Chase & Co.