(0) CALGARY, Alberta, May 04, 2021 (GLOBE NEWSWIRE) -- FutEra Power Corp. ("FutEra"), a subsidiary of Razor Energy Corp. ("Razor" or the "Company") (TSXV: RZE) which is a publicly traded Alberta-based junior oil and gas company, is pleased to announce it is entering the project execution stage of its co-produced Geothermal Power Project in Swan Hills, Alberta (the "Project"). For further investor information please contact the undersigned at info@futerapower.com This Project begins with field construction activities, with financial and in-kind support from Razor ("Stage Gate 1"). FutEra has partnered with our provincial and federal governments to invigorate the emerging geothermal industry. Provincially, Alberta Innovates ("AI") and Emissions Reduction Alberta ("ERA"), and federally, Natural Resources Canada ("NRCan"), have provided grants to complete funding. With an estimated cost to complete of $20 million, Stage Gate 1 will produce up to 3 MW of green geothermal electricity. The planned second phase of the Project ("Stage Gate 2"), adding a natural gas turbine and optimizing the geothermal power efficiency, is estimated to cost an additional $10 million. With both Stage Gate 1 and 2 of the Project complete, the total nameplate electricity output will be 21 MW.