Raser’s 100+ MPG Hummer H3 is Showcased on Wall Street

PROVO, Utah–(BUSINESS WIRE)–Raser Technologies, Inc. (NYSE: RZ), a leading energy technology company, was invited by the New York Stock Exchange (NYSE) to ring The Opening BellSM at the NYSE today commemorating Raser’s recent listing on the “Big Board” where it began trading in December 2008.

“We are very pleased to be listed on the New York Stock Exchange, the world’s premier market for publicly traded companies that offers greater access to global capital markets,” said Kraig Higginson, Chairman of Raser Technologies.

“We are pleased with the recent addition of Raser Technologies to our family of NYSE-listed companies,” said Scott R. Cutler, NYSE Euronext EVP and Head of Listings, Americas. “Raser offers important contributions that may help solve two of our biggest challenges today by generating clean renewable electric power, and enabling the use of that power in revitalizing our auto industry. We look forward to a long-standing partnership with Raser and its shareholders.”

 

Raser and the NYSE showcased Raser’s Electric Hummer H3 for the media in front of the NYSE building on Broad Street as part of the bell ringing ceremony. The 100+ mpg electric Hummer was recently introduced in Detroit with California Governor Arnold Schwarzenegger attending the unveiling.

“The Electric Hummer H3 was developed in cooperation with GM and its Hummer division with integration support from FEV,” said Higginson. “The Electric H3, powered by Raser’s proprietary E-REV powertrain, is a four-wheel drive SUV designed to achieve more than 100 mpg in typical local daily driving with near zero emissions by driving its first 40 miles per day in all-electric mode.” Video of the H3 test drive can be seen at www.rasertech.com/hummer.

FEV collaborated with Raser in the development of the Hummer H3 by performing the full vehicle integration including electrical and mechanical design. FEV also developed the software for the hybrid control unit and in-vehicle graphic display.

Gary Rogers, President and CEO of FEV, Inc., commented, “FEV brings broad experience regarding all of the technical aspects associated with supporting an OEM as they bring a vehicle into production. This vehicle exemplifies what FEV can contribute to projects like this. Our partnership with Raser has been very successful and we look forward to expanding our collaboration with them.”

Raser also showcased the world’s first modular geothermal power plant, which is now delivering clean renewable electricity to the City of Anaheim, CA. The geothermal power plant was constructed in just six months, using a new technology that is capable of generating electricity from more widely available low-to-moderate temperature geothermal resources. The rapid development was made possible by Raser’s proprietary modular power plant design.

“By replicating the success of this modular geothermal power plant across the company’s large portfolio of geothermal holdings, we can now begin to unlock this nation’s vast reserves of geothermal resources that were previously thought to be below viable temperatures for commercial power production,” said Brent M. Cook, CEO of Raser Technologies.

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 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.

Contacts

Raser Technologies, Inc.
Issa Arnita, 801-765-1200
Investor Relations
investorrelations@rasertech.com
or
Hayden IR
Cameron Donahue, 651-653-1854
cameron@haydenir.com
or
Public Relations:
Stern & Co.
Richard Stern, 212-888-0044
richstern@sternco.com
or
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.