Raser Technologies, Inc. (NYSE:RZ), a leader in energy technologies, announced that the Hatch Geothermal Power Plant, Beaver County, UT, began delivering clean, renewable electricity to the City of Anaheim, California today.

The Hatch Plant, named after U.S. Senator Orrin Hatch of Utah, is expected to produce 10 to 11 megawatts (MW) of geothermal power, enough to light up about 9,000 homes in Anaheim, when fully operational. The City of Anaheim signed a 20-year power purchase agreement to receive electricity from the Hatch Plant.

Brent M. Cook, CEO of Raser, said, “We are very pleased to have achieved yet another milestone in the development of this giant innovation in power plant design.”

The Hatch Plant sits on a large geothermal resource leased by Raser, a portion of which is estimated by independent geological engineers to have more than 230 MW of geothermal power potential, a resource large enough to power one-third of the homes in Utah.

Gallery: Raser Begins Delivering Power to Anehiem

 

About Raser Technologies

Raser (NYSE:RZ – News) is an environmental Energy Technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron^TM technology developed internally by its Transportation and Industrial segment. Raser’s Transportation & Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser’s award-winning Symetron^TM technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding: our beliefs about preliminary drilling results; our beliefs about the potential for geothermal power generation on our leased properties and its qualification for certain federal tax credits; our beliefs about our ability to exploit the available geothermal resources; our beliefs about the expected timing relating to the testing and commissioning of our geothermal power project; our beliefs about local utility’s ability to complete their work in a timely manner; our beliefs about our ability to obtain adequate development funding; our beliefs about our ability to utilize our technology and other available technologies to produce electric power from the available resources; and our beliefs about the geothermal market in general. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology and third-party technology for the intended applications; our ability to secure necessary permits; the strength of our intellectual property; our ability to attract, train and retain key personnel; and such other risks as identified in our annual report on Form 10-K for the year ended December 31, 2008, as filed with the Securities and Exchange Commission, and all subsequent filings.

All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact:

Raser Technologies, Inc.
Richard Putnam, Investor Relations, 801-765-1200
investorrelations@rasertech.com
or
Hayden IR
Cameron Donahue, 651-653-1854
cameron@haydenir.com
or
Public Relations contact:
Stern & Co.
Richard Stern, 212-888-0044
richstern@sternco.com
or
Alison Simard, 323-650-7117
arsimard@sternco.com