Fast 50 Companies - Fast Company - Raser Technologies

Raser Technologies

Provo, UT

It's been possible to turn hot underground water into electricity for decades, of course. But in November Raser flipped on a first-of-its-kind geothermal plant in Beaver County, Utah.

What makes the plant unique is that Raser can generate zero-emissions electricity using water that's scarcely hotter than a cup of coffee, opening up previously unusable (and far more common) low- to medium-temperature geo-thermal resources.

What's more, Raser developed and built the Utah plant in under a year by stringing together small, modular generators that arrive on the back of a truck, reducing construction time from the more typical five or seven years and slashing capital costs, which have historically accounted for about half the expense of a large new power plant. The Utah facility is set to provide power to Disneyland and thousands of homes in Anaheim, California. Seven more sites are under development in the United States, including one in New Mexico that will send power to Phoenix this year.

All told, Raser -- which began trading on the New York Stock Exchange last December, plans to add 600-plus megawatts of capacity over the next five years.