ADDING MULTIMEDIA Raser Technologies Sets First UTC Power PureCycle(R) Units at Thermo.PROVO, Utah -- Raser Technologies, Inc. (NYSE Arca For other uses of "ARCA", see ARCA. NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is an entirely online securities exchange on which both stocks and options are traded. : RZ) announced today that it has set the first five UTC Power UTC Power provides On-Site Power Products, Transportation Products, and Space and Defense Solutions . UTC Power is a wholly owned subsidiary of United Technologies Corporation. History UTC Power began as a division of Pratt & Whitney in the 1960s. PureCycle[R] power generating units at its Thermo geothermal power Geothermal power Thermal or electrical power produced from the thermal energy contained in the Earth (geothermal energy). Use of geothermal energy is based thermodynamically on the temperature difference between a mass of subsurface rock and water and a mass project in Beaver County, Utah Beaver County is a county located in the U.S. state of Utah. As of 2000 the population was 6,005, a 26% increase over the 1990 figure of 4,765. By 2005 the population was estimated at 6,204. It was named for the abundance of beavers in the area. . Raser previously announced taking delivery of the 50 PureCycle[R] units from UTC Power, a United Technologies Corp. (NYSE NYSE See: New York Stock Exchange : UTX UTX United Technologies Corporation (stock abbreviation, AMEX) UTX Unreal Texture (a texture pack for Unreal-engine games) UTX Unit Training Exercise UTX Under Track Crossing ) company, that in aggregate are expected to produce 14 megawatts (MW) gross and 10 to 11 MW net, of clean renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. . Raser began transporting the power generating units to the Thermo project site today and plans to complete the installation of all 50 units by October this year. "The installation of each unit can be completed in just a few hours," stated Steven Brown, Raser's Executive Vice President of Construction. "We have set the first few units today and will complete the installation of all the units over the next several weeks. Subject to the timely funding of construction financing and the completion of the plant construction, we anticipate that we will begin bringing the units online and delivering power to Anaheim." 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 Torque density is a measure of the torque-carrying capability of a mechanical component. It is the ratio of torque capability to volume and is expressed in units of torque per volume. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 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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