New Legislation Will Promote Renewable Energy Development in Utah and Create a Blueprint for Other States

Provo, UT, April 23, 2009 -Raser Technologies, Inc. (NYSE: RZ), a leading energy technology company, celebrated Earth Week with Utah’s Governor Jon Huntsman at Raser’s Hatch geothermal power plant near Thermo, UT, and ceremonially signed two important renewable energy bills: House Bill 430 and Senate Bill 76.

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High Resolution Video Download for News Media Organizations:
With segment, B-Roll and audio bites
http://media.rasertech.com/VNR.mov (1.5 GB)

Senate Bill 76 establishes a Renewable Energy Transmission Authority, or UGREEN Authority (Utah Generated Renewable Energy Electricity Network Authority), which will provide financial incentives and State support to upgrade the electrical grid, making it possible for Utah’s abundant supply of geothermal, wind, solar and other renewable energy resources to be developed to help meet the nation’s energy needs. UGREEN is designed to help renewable energy projects gain appropriate transmission access to the markets where power is needed. The second bill, House Bill 430 provides major tax incentives to renewable projects, including a refundable certificate up to the amount of the economic benefit realized by the State from new state revenues.

Noting that Utah has natural resources that can be economically developed and managed responsibly to provide much of the West’s renewable energy demands, Governor Huntsman said, “I am pleased to see home-grown businesses, like Raser, take a leadership role in developing our geothermal resources for the benefit of us all.”

Brent M. Cook, CEO of Raser, said, “We are proud to be one of the inaugural renewable energy projects up and running in the state’s new renewable energy zone. In signing this legislation, Governor Huntsman is marking the dawn of Utah’s renewable energy era through the support that our State government is providing.”

He added that Raser’s Hatch geothermal plant in Beaver County, UT, began to deliver electrical power to the City of Anaheim, CA last week.

The Hatch geothermal power plant was constructed in just six months. This rapid development was made possible by Raser’s innovative modular power plant design.  In addition, this low-temperature technology can produce power from the nation’s vast reserves of geothermal resources that were previously thought to be not hot enough for commercial power production.

“This legislation,” Cook concluded, “will promote the development of Utah’s substantial geothermal resources to produce clean, renewable energy for the State and launch many more facilities like the Hatch plant in Utah and throughout our nation.”

A video news report along with B-roll and sound bites of the event can be viewed at: http://www.rasertech.com/geothermal/geothermal-multimedia/utah-governor-signs-bills.

About Raser Technologies
Raser (NYSE: RZ) 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 SymetronTM 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 SymetronTM 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.

Photos from the Event:

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 quarter ended December31, 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.

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Raser Technologies, Inc.       
Richard Putnam
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

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: our beliefs about the performance and market applicability of our products; our beliefs about the status and enforceability of the Company’s intellectual property; our beliefs about the strength of our existing and potential business relations in the motor industry; our beliefs about the strength and enforceability of our agreements, our beliefs about the performance capabilities of our technology; our beliefs about the capabilities, expertise and intentions of our partners; our ability to hire, train and retain key personnel; our ability to successfully complete field testing of Symetron^TM technologies. 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; the strength of our intellectual property; our inability 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.