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Published in Stocks and Investing on Tuesday, February 17th 2009 at 7:27 GMT, Last Modified on 2009-02-17 07:28:50 by Market Wire🞛 This publication is a summary or evaluation of another publication
PROVO, Utah--([ BUSINESS WIRE ])--Raser Technologies, Inc. (NYSE: RZ), a leader in geothermal power generation, today reported that Fast Company magazine chose it as one of the fifty "most innovative companies" for 2009 in its annual selection of the Fast Company 50.
In describing how the Fast Company 50 was selected, Editor Robert Safian said, "Each company…illustrates the power and potential of innovative ideas and creative execution. These are the kinds of enterprises that will redefine our future and point the way to a better tomorrow."
The article highlighted Raser's innovative new geothermal plant in Beaver County, Utah:
"What makes the plant unique is that Raser can generate zero-emissions electricity using water that's scarcely hotter than a cup of coffee, opening up previously unusable (and far more common) low- to medium-temperature geothermal resources."
The magazine noted that "Raser developed and built the Utah plant in under a year, reducing construction time from the more typical five or seven years and slashing capital costs, which have historically accounted for about half the expense of a large new power plant."
Raser CEO Brent Cook said, "We are proud to have been named one of the 50 most innovative companies.
"We are pleased with this tribute to Raser's ability to use more readily available geothermal resources and to build new plants economically, thus making clean, geothermal energy price competitive and expanding the nation's potential energy supply."
To see the Fast Company article, follow the link below.
[ http://www.fastcompany.com/fast50_09/profile/list/raser-technologies ]
About Raser Technologies
Raser Technologies (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 award-winning 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. Further information on Raser may be found at: [ www.rasertech.com ].
About Fast Company Magazine
Fast Company sets the agenda, charting the evolution of business through a unique focus on the most creative individuals sparking change in the marketplace. By uncovering the best and "next" practices, the magazine and website help a new breed of leader work smarter and more effectively. Fast Company empowers innovators to challenge convention and create the future of business.
Cautionary Note Regarding Forward-Looking Statements
This press 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 preliminary drilling results; our beliefs about the potential for geothermal power generation on our leased properties and its qualification for certain federal tax credits; our beliefs about our ability to exploit the available geothermal resources; our beliefs about the ability of individuals to provide cash under the terms of the line of credit agreement; our beliefs about our ability to finalize power purchase agreements under favorable terms; our beliefs about our ability to obtain adequate development and permanent project funding; our beliefs about our ability to utilize our technology and other available technologies to produce electric power from the available resources; and our beliefs about the geothermal market in general. 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 and third-party technology for the intended 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 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.
