Shares of Raser Technologies Inc. (NYSE:RZ) are higher on news before the opening that it has initiated the development of a geothermal power plant in Utah. The Provo, Utah-based company currently has a total of eight projects under development, most of them in the Southwest.

At 12:42 p.m. ET, the stock had climbed $0.62, or 8%, to $8.49.

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