Raser Vice President Speaks at Green West Conference on Greening America's Fleets with Plug-in Hybrid Vehicles

Business Wire,  May 22, 2008  

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Joined by Pacific Gas & Electric and Southern California Edison, Raser Introduces Its Green Fleet PHEV Program to California Utilities

LOS ANGELES -- David West, Vice President of Marketing for Raser Technologies, Inc. (NYSE Arca: RZ), addressed the Green West Conference at the Los Angeles Convention Center today, and also participated in a panel discussion focused on how advanced plug-in hybrid technology can be used to help green America's utility and government fleets.

Also on the panel was Bill Zeller, Senior Program Manager of Clean Transportation for Pacific Gas & Electric, a leading California utility, and Ed Kjaer, Director of Electric Transportation for Southern California Edison. Both Pacific Gas & Electric and Southern California Edison are founding members of the Plug-in Hybrid Development Consortium, along with Raser Technologies, Inc.

West introduced Raser's advanced electric drive system architecture, designed to allow fleet trucks and SUVs to achieve over 100 mpg in typical local daily driving by driving the first 40 miles under all-electric power. West noted that California utility fleets such as Pacific Gas & Electric and Southern California Edison are leading the way, by adopting plug-in hybrid and extended range electric vehicles into their fleets due to their numerous benefits. Extended range electric vehicles, also known as E-REVs, operate under full electric power, without range limitations of electric vehicles, due to an onboard generator or "range extender." Larger lithium ion battery packs can be recharged at night for about 1/4 the cost of gasoline. Raser's series PHEV drive system is designed to allow larger fleet vehicles the benefits of extended range electric vehicles including a dramatic reduction in fuel costs and harmful emissions, while helping fleets qualify for alternative fuel and other fleet incentives.

"Trucks and SUVs are not only some of the most popular vehicles used in fleets, they are also the best selling class of vehicles in the U.S.," said West. "By electrifying light trucks and SUVs, Raser is helping to build a viable commercialization path for PHEVs, while reducing emissions and improving fuel economy in the vehicles that need it the most," West concluded.

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[TM] technology developed internally by its Transportation and Industrial Technology segment. Raser's Transportation and Industrial Technology 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.

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 quarterly report on Form 10-Q for the quarter ended March 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.

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