News
Jun 17, 2009CanGEA Member Magma Energy Prepares Public Offering
CanGEA Member Magma Energy has filed a preliminary prospectus for an initial public offering, taking the first step in becoming a publicly traded company. Magma is currently developing projects in 4 countries worldwide, and operates a 23 MW power plant in the state of Nevada. CanGEA director John McIlveen is quoted saying “The U.S. has announced so many attractive incentive programs, people are almost rushing to get in,” referring to the recent stimulus package offered to the American geothermal industry by the US Federal Government. Canadian based geothermal companies, such as Sierra Geothermal Power Corp. and Magma have indicated they will apply for US government money under this stimulus program. You may read the full article by clicking here.
