Geothermal start-up sets equity plan

A start-up geothermal company headquartered in Fernley plans to raise equity through a private offering of stock to sophisticated investors.

OHm Geothermal LLC filed a notice with the Securities and Exchange Commission last week stating that it plans to raise as much as $430 million in equity.

The company said it would raise the money only from accredited investors such as banks, insurance companies, or people with annual incomes of at least $200,000 in each of the two past years. The minimum investment will be $100,000.

OHm Geothermal LLC filed its articles of organization with Nevada officials in December, and the company said in its SEC filing that it hasn't recorded any revenue during its short history.

Donald Chisholm of Reno, Kyle Chisholm of Sparks and Charles Davis of Reno are the company's executive officers.

The company didn't provide any details of its plans in its SEC filing.