Raser Technologies Invites Governors To Take A Spin In Electric Hummer
Thursday, June 11, 2009 | Category: Events, Press Releases | PrintAs Part of the Western Governors’ Association Annual Meeting, Governors will test Raser’s recently unveiled Plug-in Hybrid Electric Vehicle (PHEV)
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Updated: See Gallery of the Event
PROVO, UT, June 11, 2009 — Raser Technologies, Inc. announced today it will showcase its plug-in hybrid electric vehicle, the Electric Hummer H3E, at the Western Governors’ Association Annual Meeting in Park City, Utah.
Raser Technologies and development partner FEV Inc. of Auburn Hills, MI, a leading automotive integrator, unveiled the demonstration vehicle at the SAE World Congress in Detroit on April 20, 2009. The hybrid Hummer is designed to achieve the equivalent of 100mpg for a typical daily drive of about 60 miles. The Extended Range Electric Vehicle (E-REV) can travel about 40 miles on batteries, after which a four cylinder 2.0L Ecotec gas-powered engine kicks in to supply the traction motor and re-charge the batteries. The Hummer has a range of about 400 miles.
California Governor Arnold Schwarzenegger and Utah Governor Jon Huntsman, along with other governors and the media, will be invited to ride in the Hummer.
Raser Technologies and Pratt & Whitney Power Systems will also showcase the revolutionary PureCycle modular geothermal power plant generator at the event. Raser utilized PureCycle units in its proprietary design to build the Hatch Plant in Beaver County, Utah. The Hatch Plant is the world’s first utility-scale modular geothermal power plant. This new technology allows Raser to tap into geothermal water once considered not hot enough to produce electricity commercially. With Raser’s cutting edge power plant design, the company plans to tap into the Western United States’ vast geothermal resources. Geothermal is clean, green, renewable energy. Raser’s geothermal energy is baseload energy, which means it is available 24/7 unlike wind or solar energy, which are intermittent resources used to generate power. In April, Raser began sending electricity from the Hatch Plant to Anaheim, CA as part of a 20 year power purchase agreement. The Hatch Plant is expected to reach full operating capacity later this year.
What: Electric Hummer & Low-temp, modular geothermal generator to showcase at
Western Governors’ Association Annual Meeting
Where: The Chateaux, Park City, Utah
When: June 14 -16, 2009
Media Availability: Reporters are invited to drive the Hummer
Date: Monday, June 15, 2009
Time: 11:30 a.m. – 12:30 p.m.
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.
About FEV, Inc.
The FEV Group is an internationally recognized powertrain and vehicle engineering company that supplies the global transportation industry. FEV offers a complete range of engineering services, providing support across the globe to customers in the design, analysis, prototyping, powertrain and transmission development, as well as vehicle integration, calibration and homologation for advanced internal combustion gasoline-, diesel-, and alternative-fueled powertrains. FEV also designs, develops and prototypes advanced vehicle / powertrain electronic control systems and hybrid-electric engine concepts that address future emission and fuel economy standards. The FEV Test Systems division is a global supplier of advanced test cell, instrumentation and test equipment. The FEV Group employs a staff of over 1,800 highly skilled specialists at advanced technical centers on three continents. FEV, Inc. employs approximately 300 personnel at FEV’s North American Technical Center in Auburn Hills, MI.
About The Western Governors’ Association
The Western Governors’ Association is an independent, nonprofit organization representing the governors of 19 states and three U.S.-Flag islands in the Pacific. Through their Association, the Western governors identify and address key policy and governance issues in natural resources, the environment, human services, economic development, international relations and public management.
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 potential for geothermal power generation on our leased properties; our beliefs about our ability to exploit the available geothermal resources; our beliefs about the expected timing relating to the completion of our geothermal power projects; 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; our beliefs about the geothermal market in general;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™ 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 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 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.
Raser Technologies, Inc.
Issa Arnita
Investor Relations
(801) 765-1200
investorrelations@rasertech.com
Hayden IR
Cameron Donahue.
(651) 653-1854
Public Relations contact: Stern & Co.
Richard Stern
212 888-0044
Alison Simard
323-650-7117
