Raser and Hyundai Heavy signs an agreement for renewable energy and electric vehicle projects.
Raser Technologies and Hyundai Heavy Industries signed a memorandum of understanding which provides the joint development of two renewable energy projects in western U.S. and the production of electric vehicles.
“We are committed to meeting the challenges of global climate change in the two key industries that can reduce fossil fuel emissions the most, renewable energy and electric vehicles,” said Dr. Min. “We selected Raser as a development partner because of their leadership in electric vehicles, and their sizable holdings of highly valuable renewable resources,” concluded Min.
The “Well-to-Wheels” project between the two companies of 5mw solar power generation and will be located at Raser’s Thermo site in Utah.
The Installation of solar energy supply is in the same location with the installation of geothermal energy supply of Raser, the two will have zero emissions and renewable energy as well as a new concept developed by Raser called ZEBRA.
Raser and HHI will seek to develop their business relationship once the renewable energy and electrical vehicles project will be completed.
