Provo, UT, June 15, 2009 – Raser Technologies, Inc. announced today that it has released the latest version of its “Up to Speed” series of videos, updating stockholders, the media and the public on its progress and strategy. The video provides an update on:

• its current and proposed geothermal power developments, including the expectation of reaching full  capacity at its Thermo No. 1 plant, also known as the Hatch plant, during the early part of the third quarter of 2009
• a recent change to its metering configuration at the Hatch plant to utilize electricity from the local utility, Rocky Mountain Power, that will provide power to certain operations of the Hatch plant, namely the well field pumps
• efforts to optimize Raser’s well field development program, which will  maximize the utilization of the current production wells for the Hatch plant, as well as future plants, and enable Raser’s plants to operate more cost effectively
• Raser’s adjusted  goal to have over 300 megawatts of electricity available for sale to utilities by 2013
• the various financing options and potential government incentives for renewable energy that Raser has pursued and intends to pursue
• Raser’s launch of a full-sized Hummer H3E plug-in hybrid electric vehicle (PHEV), which incorporates Raser’s Symetron technology that was unveiled at the SAE World Congress in Detroit in April and is designed to achieve the equivalent of 100 miles per gallon during a typical daily drive of about 60 miles

In addition, Raser invited stockholders to attend the Annual Meeting of Stockholders, which will be held on Thursday, June 25, 2009 at 2:30 PM (MDT) at the Marriott Hotel in Provo, Utah. 

“A lot has happened over the last few months,” said Brent M. Cook, CEO of Raser Technologies. “We expect to reach the capacity goal for the Hatch plant, optimize our well field and exploration and capitalize on a variety of financing arrangements to fund our continued development efforts. We have been, and continue to pursue several government incentives for renewable energy and we’re happy to report that in early June, the Department of Energy cleared Raser’s application for a loan guarantee program to proceed to the next phase in the process. We are also pleased with the outstanding reception we have had to the launch of Raser’s Symetron Drive System, in the Hummer H3E plug-in hybrid electric vehicle. We encourage all interested parties to view our video news report on our website.”

The video news report can be viewed in its entirety on Raser’s website: www.rasertech.com.

About Raser Technologies
Raser 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™ 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™ 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 contains 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: Raser’s beliefs about preliminary drilling results; Raser’s beliefs about the potential for geothermal power generation on Raser’s leased properties; Raser’s beliefs about its ability to exploit the available geothermal resources; Raser’s beliefs about the expected timing relating to the development and completion of its geothermal power projects; Raser’s beliefs about its ability to obtain adequate development funding; Raser’s beliefs about its ability to utilize its technology and other available technologies to produce electric power from the available resources; Raser’s beliefs about the geothermal market in general; Raser’s beliefs about its qualification for certain federal tax credits or other government funding programs, and its ability to meet the requirements of the DOE due diligence process; Raser’s beliefs about its ability to construct power plants; Raser’s beliefs about the strength and enforceability of its agreements; Raser’s beliefs about the ability of the parties to meet the conditions imposed in the funding agreements; Raser’s beliefs about its ability to secure the equipment and services, on acceptable terms, required to complete its power projects; Raser’s ability to attract alliance, monetization or financial partners for the power projects it intends to develop; Raser’s beliefs about its ability to successfully conclude contract negotiations with its financing partners on acceptable terms; Raser’s beliefs in the ongoing financial stability of its financing partners; Raser’s beliefs that the conditions necessary to fund the development of Raser’s geothermal projects can be satisfied; Raser’s beliefs about the economic benefits of contemplated financing structures; Raser’s beliefs regarding the revenues and costs associated with a normalized geothermal power plant including the development and management fees that Raser would receive in connection with such normalized plant; Raser’s beliefs regarding the potential for bottom-cycling operations and the potential economic benefits associated with such bottom-cycling operations; Raser’s understanding of accounting treatments for financial reporting of tax treatment of Raser’s geothermal projects; Raser’s beliefs about the performance and market applicability of its products; Raser’s beliefs about the status and enforceability of its intellectual property; Raser’s beliefs about the strength of its existing and potential business relations in the motor industry; Raser’s beliefs about the performance capabilities of its technology; Raser’s beliefs about its ability to commercially license its technology; Raser’s beliefs about its ability to hire sufficient employees to accelerate engineering and testing; and Raser’s beliefs about its ability to obtain funding and successfully complete testing of its SymetronTM technologies and its EREV project. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and Raser’s ability to compete in the industry; Raser’s ability to adapt its technology and third-party technology for the intended applications; Raser’s ability to secure necessary permits; the strength of Raser’s intellectual property; Raser’s ability to attract, train and retain key personnel; and such other risks as identified in Raser’s quarterly report on Form 10-Q for the quarter ended March 31, 2009, 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 Raser as of the date hereof, and Raser undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this release.

contacts

Raser Technologies, Inc.                    

Issa Arnita

Investor Relations

(801) 765-1200

investorrelations@rasertech.com

 Hayden IR

Cameron Donahue

(651) 653-1854

cameron@haydenir.com

Public Relations contact: Stern & Co.

Richard Stern

212 888-0044

richstern@sternco.com

Alison Simard

323-650-7117

arsimard@sternco.com