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Great Lakes
Article:
U.S. Geothermal Sponsors Frank Church
Institute Conference on Global Warming
U.S. Geothermal Inc.
EARTHtimes.org
Published January 16, 2006
Boise, Idaho -- U.S. Geothermal Inc. ("U.S. Geothermal")
(OTC Bulletin Board: UGTH; TSX.V: GTH), today announced
that the renewable energy development company is a sponsor
of the 23rd Annual Frank Church Conference, "Global
Warming: Beyond the Inconvenient Truth."
Former Vice President Al Gore will be the keynote speaker
at the January 22 conference. His recent documentary film
and best-selling book about global climate change, "An
Inconvenient Truth," focused national attention on
the issue of global warming and helped widen discussions
about the need for non-greenhouse gas producing energy
sources. Gore's 7 p.m. speech is scheduled at the end
of the day-long conference at Boise State University.
U.S. Geothermal is a renewable energy development company
in the process of building a binary cycle geothermal power
generation plant at Raft River, Idaho. Free of the primary
fossil fuel green house gases and based upon a renewable
energy resource, the plant would be the first commercial
binary geothermal power plant in the Pacific Northwest.
"Geothermal energy sources will be an important
part of the alternative energy portfolio the world needs
in order to address the changes being created by global
warming," said Daniel Kunz, President and CEO of
U.S. Geothermal. "Our Raft River project is a prime
example of how technology improvements in recent years
have brought significant reductions in greenhouse gas
emissions within reach. Idaho's vast geothermal energy
potential, coupled with wind power and hydroelectric power,
could allow our state to become a leader in renewable
energy production."
Kunz is also scheduled to speak during an afternoon session
of the conference. His comments will focus on a recent
Geothermal Energy Association report that outlined Idaho's
tremendous potential for geothermal energy production.
"The topic of this conference is timely and important,"
Kunz said. "I would like to thank the Frank Church
Institute and Vice President Gore for bringing this important
message to Boise."
About US Geothermal:
U.S. Geothermal is a renewable energy development company
that is in the process of developing a geothermal power
project at Raft River, Idaho. The company believes Raft
River is ideally located to make an important contribution
to the power needs of the Pacific Northwest. U.S. Geothermal
holds through ownership or lease geothermal rights of
private lands, which comprise the Raft River project in
Southeastern Idaho. The Raft River geothermal reservoir
is the site of a former US Department of Energy geothermal
research facility. On the basis of a report prepared by
the company's independent consultant, GeothermEx Inc.,
of Richmond California, the site has a 50 percent probability
of a power production capacity of 15.6 megawatts per square
mile which may translate to 100 megawatts or more. U.S.
Geothermal has signed a power sales contract for one 10
megawatts power plant with the Idaho Power Company, is
in negotiations for an additional 26 megawatts with new
customers, and has secured transmission for up to 36 megawatts
with the Bonneville Power Administration.
The information provided in this news release contains
forward-looking statements within the definition of the
Safe Harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995, including statements regarding
the nature, size and viability of the geothermal resource,
the construction of power plants and the projected production
date. These statements are based on U.S. Geothermal Inc.'s
current expectations and beliefs and are subject to a
number of risks and uncertainties that can cause actual
results to differ materially from those described in forward
looking statements, including the risks that financing
will not be available for construction of the power plants,
construction will not be completed on budget or on schedule,
the revenues generated under the power sales agreements
will not prove sufficient to fund operations and/or service
debt, and the reservoir may not be as extensive as indicated,
among others. Readers are cautioned to review the risk
factors identified by the company in its filings with
Canadian and U.S. securities agencies. Forward-looking
statements are based on management's expectations, beliefs
and opinions on the date the statements are made. U.S.
Geothermal Inc. assumes no obligation to update forward-looking
statements if management's expectations, beliefs, or opinions,
or other factors, should change.
The TSX Venture and OTC Bulletin Board Exchanges do not
accept responsibility for the adequacy of this release.
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