Ram Power relocating to cut costs
Ram Power Co., a Reno company that’s developing a geothermal project in Nicaragua, is moving downtown as part of a cost-reduction plan.
The company said it will move on Nov. 1 to 401 Ryland St. from its current quarters at 9460 Double R Blvd.
Ram posted a second-quarter loss of $19.9 million, which included an $18.6 million write-down on the value of exploration-stage properties in the United States, Canada and Latin America.
The company said it’s looking to sell non-core assets, figuring the sales would save $300,000 a year in 2013 and $500,000 a year in the future.
It’s also planning to tighten down on professional fees.
Northern Nevada’s smaller markets expect economic stability in 2021; issues could slow future growth
While much of the economic attention in Nevada has centered on Las Vegas and Reno, the Silver State’s smaller markets and rural communities are in varying degrees of rebounding from the COVID recession.