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Raser Initiates an Additional Geothermal Power Project in Utah

Posted on: Wednesday, 2 April 2008, 09:00 CDT

Raser Technologies, Inc. (NYSE Arca:RZ) announced today that it has initiated the development of an additional geothermal project in Utah. This brings Raser's total projects under development to eight, representing 80-85 megawatts (MW) of geothermal power projects initiated since April, 2007. Raser announced in April, 2007 that it would initiate the development of approximately 100 MW per year over the following three years and then ramp up to 150 MW per year for each year thereafter. The additional project announced today includes a second 10 MW plant accessing the same geothermal resource that had been previously announced for Utah's Escalante Desert. The Company's projects under development now include three projects in Nevada, three in Utah, one in New Mexico and one in Oregon.

The first project in Southwestern Utah recently completed and announced the drilling results of its first well for geothermal production. The well's preliminary readings indicated the existence of geothermal resources with promising water temperatures well in excess of 260°F (127°C), subject to further testing and evaluation, which exceeds the minimum required temperature for use in binary-cycle power plants produced by UTC. The preliminary geothermal resource analysis indicates adequate geothermal resources to initiate the development of a second 10 MW power plant in the same general vicinity.

"We continue to move forward in building a pipeline of geothermal projects," stated Brent M. Cook, Raser's CEO. "The results from the first Escalante Desert project in Utah were encouraging. Based upon preliminary results of the wells on the first project as well as data from other wells in the area, we are moving forward on a second 10 MW power project at this time. This may also give us some economies of scales for the well field development and accelerate the rapid deployment for both projects."

About Raser Technologies

Raser (NYSE Arca:RZ) is a publicly-traded, green-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 using Raser's Symetron™ technology to improve the efficiency of electric motors and other 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 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 annual report on Form 10-K for the year ended December 31, 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.

Source: Business Wire

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