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Mon, February 9, 2009
Sun, February 8, 2009
Fri, February 6, 2009
Thu, February 5, 2009 Raser Technologies Announces Video News Update on Its PHEV Project
PROVO, Utah--([ BUSINESS WIRE ])--Raser Technologies, Inc. (NYSE: RZ) announced that it released today a video news report updating shareholders and the public on its progress to complete the full-sized SUV plug-in hybrid electric (PHEV) demonstration vehicle incorporating the Company's Symetron technologies. The Company, working in conjunction with FEV and a yet to be named global auto manufacturer, has completed the integration of the 200 KW Symetron traction motor and 100 KW generator and initial testing of those components.
In the video news report, the Company discusses the bench testing of the Symetron components and the delays in receiving and integrating lithium-ion batteries to complete the demonstration vehicle. The Company announced that it expects to begin road tests of the completed vehicle in March.
"I am very pleased with the progress that Jim Spellman and his team have made towards completing this project," said Patrick Schwartz, President of Raser. "We are looking forward to demonstrating the full capabilities of this vehicle, even with the current difficult times in the automotive market."
The video news report can be viewed in its entirety on the Company's website: [ www.rasertech.com ].
About Raser Technologies
Raser (NYSE: RZ) is an 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™ 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 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.
Cautionary Note Regarding Forward-Looking Statements
This press release and referenced video news release contain 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™ 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 September 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.
