Raser Technologies, Inc. announced today that the City of Anaheim, California has approved power purchase agreements (PPAs) for two of Raser’s planned geothermal power plants. Each PPA provides for the delivery by Raser of up to 11 megawatts (MW), or enough electricity to power approximately 9,000 homes, of geothermal renewable power for 20 years. Under the agreement, Raser will use reasonable commercial efforts to begin delivering electricity by December 15, 2008.

The Anaheim PPAs provide for a stated selling price with annual increases over the term of the agreement. Under the agreements, Anaheim will also pay for the “wheeling costs,” or cost for transmission of the electricity from the power plants to Anaheim.

These are the first two completed PPAs by the environmentally-focused Utah-based company. Raser is currently in various stages of negotiations with several utilities and other municipalities with respect to other agreements to purchase an additional 120 MW of power. Raser expects to complete these negotiations in 2008 and 2009.

“Anaheim is committed to the development of new energy technologies,” said Curt Pringle, Mayor of Anaheim. “This agreement with Raser is evidence of our commitment, and will help us meet the growing demand in achieving a higher standard of renewable energy use.”

“We applaud the vision and commitment of the City of Anaheim, its residents and businesses to the development and use of renewable energy,” stated Brent M. Cook, Raser’s Chief Executive Officer. “These geothermal power plants are designed to provide baseload renewable energy with virtually no harmful emissions for a combined 18,000 homes. Receiving these initial PPAs are key milestones for Raser Technologies and are important pieces of our corporate strategy.”

About Raser Technologies
Raser (NYSE Arca: RZ) is a publicly-traded, environmentally-focused technology licensing and development company operating in two business segments. 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 Technology segment. Raser’s Transportation and Industrial Technology segment focuses on using Raser’s Symetron™ technology to improve the efficiency of electric motors and other 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: our beliefs about preliminary drilling results; our beliefs about the potential for geothermal power generation on our leased properties; our belief about our ability to exploit the available geothermal resources; our beliefs about the strength and enforceability of our agreements; our beliefs about our ability to successfully negotiate power purchase agreements; and our beliefs about the geothermal market generally. 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 for geothermal 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, 2007, 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 Communications, Inc
Cameron Donahue
(651) 653-1854
cameron@haydenir.com