Pursuant to Section 13 or 15(d) of the
Date of Report- January 22, 2013
US GEOTHERMAL INC.
1505 Tyrell Lane, Boise, Idaho 83706
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 8.01 Other Events
On January 22, 2013, U.S. Geothermal Inc. (the Company) provided a review of 2012 accomplishments and planned milestones moving forward thru 2013. During 2012, the Companys management and operating teams were focused on improving operations at Raft River, Idaho and advancing both the San Emidio, Nevada and Neal Hot Springs, Oregon projects into commercial operations. Commercial operations were successfully achieved at San Emidio in May 2012 and at Neal Hot Springs in November 2012.
Both development projects experienced construction delays due to the innovative use of existing technology in a novel configuration. These innovations have successfully produced the geothermal power industrys first commercial, supercritical organic rankine cycle binary power plant using R134a as a motive fluid. R134a is a non flammable, non toxic compound used in the power cycle. The two projects have successfully moved non-commercial, significantly enhanced technology to commercial viability and are now generating electricity. The performance tests of the innovative plants showed that they produce significantly more electrical power than originally forecast. Due primarily to the colder winter temperatures, current total output of net base load power to our customers recently was 49 MW with San Emidio at 9.4 MW, Neal Hot Springs at 29.7 MW and Raft River at 9.9 MW.
Notable Achievements for 2012 include:
Operating and Development Goals for 2013 include:
The information provided in this report may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, including statements regarding production potential and operating and development goals for 2013. 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, including but not limited to, schedule delays and inability to achieve anticipated production levels. Forward-looking statements are based on managements expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if managements expectations, beliefs, or opinions, or other factors, should change.
Item 9.01 Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.