Raser Sues Over Alleged Power Generator Lies, $100M Loss

Law360, New York (September 2, 2011, 6:39 PM EDT) -- Raser Technologies Inc. sued two units of United Technologies Corp. on Thursday in Delaware for allegedly making false promises about power generators before Raser purchased them, costing the geothermal energy company more than $100 million and sending it into bankruptcy.

Raser says it bought 50 small PureCycle power generators from UTC Power Corp. in 2008 under the belief that it could combine them to power Thermo No. 1 BE-01 LLC, a commercially viable, utility scale electricity generation plant. The PureCycle technology was later taken over by...
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