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Raser Finalizes Agreement with a Major Vehicle OEM to Develop a Plug-in-Hybrid Vehicle Using Symetron(TM) Technology.

A SUV That Gets More Than 100 Miles Per Gallon and Reduces Emissions is Targeted

PROVO, Utah -- Raser Technologies, Inc. (NYSE Arca: RZ) announced today that it has signed an agreement with a global automotive manufacturer in its effort to produce a plug-in-hybrid electric demonstration vehicle incorporating Symetron[TM] electric motor and electronic drive technology.

Raser also announced previously that it teamed with FEV Engine Technology, Inc., one of the world's leading developers of advanced powertrain and vehicle technologies, as the integrator for this plug-in-hybrid vehicle project. The vehicle is targeted to achieve more than 100 mpg for the typical American driver with improved acceleration while dramatically reducing harmful exhaust emissions.

FEV has previously supported this undisclosed OEM as an engine, powertrain and vehicle developer, and system integrator. FEV works with OEMs worldwide to develop new powertrain and vehicle integration designs into prototypes that can be integrated into OEM production vehicles.

Gary Rogers, President and CEO of FEV Engine Technology, remarked concerning this agreement, "We have considerable experience in working with this OEM and we are excited about the chance to exhibit our advanced hybrid powertrain design and development capabilities on this program."

Jim Spellman, Raser Technology's Vice President of Transportation, stated, "By combining the strengths of the three companies in this project, Raser plans to demonstrate the plug-in-hybrid benefits for improved fuel economy and reduced emissions. We believe that this vehicle can be designed to recharge from a regular 110V or 220V outlet and driven in excess of 400 miles using stored grid power and its onboard generation capability."

Patrick J. Schwartz, President of Raser Technology, stated, "We are very pleased with the alliance that is now complete. We look forward to completing this project and to the exciting opportunities it should bring for both Raser and the industry as plug-in-hybrid vehicles enter the market over the next few years."

About FEV

FEV 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. FEV Test Systems, Inc. is a global supplier of advanced test cell, instrumentation and test equipment. FEV employs a staff of over 1,400 highly skilled specialists at advanced technical centers on three continents.

About Raser Technologies

Raser (NYSE Arca: RZ) is an environmentally focused technology licensing and development company operating in two business segments. Raser's Transportation and Industrial Technology segment focuses on using Raser's award-winning Symetron[TM] technology to improve the efficiency of electric motors, power electronic drives and other applications. 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. Further information on Raser may be found at:

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 ability 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 September 30, 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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Publication:Business Wire
Date:Nov 29, 2007
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