June 15, 2009 Alternative Energy.com Press Release on H3 Hummer from Raser Technologies

[AlternativeEnergy.com]

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RASER TECHNOLOGIES RESPONDS TO HTTP://ALTERNATIVEENERGY.COM CLAIM THAT NEW HUMMER H3 GETS 33MPG, NOT 100MPG

NEW YORK, June 15 - Raser Technologies responded to AlternativeEnergy.com’s assertions that appeared in the May 20, MSNBC story that questioned the validity of Raser’s claim that its new H3 Hummer gets 100 mpg. AlternativeEnergy.com’s CEO, Doug Schiller, was quoted in the MSNBC story suggesting that the actual mileage was closer to 33 mpg. Raser’s response was that the 33 mpg is accurate, but only when the H3 is driven more than 200 miles in a day and that the mileage is an astounding "unlimited" for the 75% of drivers who drive less than 40 miles a day.

AlternativeEnergy.com is hosting an online radio show on Wednesday, June 17, at 12pm PT (3pm ET) at http://BlogTalkRadio.com/AlternativeEnergyRadio with leading experts Lindsay Leveen, a former manager of sustainable development for Bechtel Corp, Tad Patzek, the Professor and Chair of the Petroleum and Geosystems Engineering department at the University of Texas, and others. The call in number for the radio show is [phone].

Doug Schiller said, "Raser is still making misleading claims because it entirely ignores the coal and natural required to produce the electricity that makes its vehicle seem like it has ‘unlimited’ mileage."

Schiller said that even more misleading was a published quote attributed to Raser’s CEO, Brent M. Cook, who said, "The technology in this electric-powered Hummer is a leap ahead for U.S. Automakers. It could make the nation’s popular light trucks and SUVs greener than a Prius."

Lindsay Leveen said, "The upcoming show will give us a chance to discuss how best to fairly present the energy efficiency of cars that partially consume electricity." Sarcastically, Leveen added, "We will explore whether or not a vehicle as heavy as a Hummer could ever be more energy efficient than the aerodynamic, lighter Prius, or, in other words, do the laws of physics still apply?"

Schiller added, "We will be inviting Raser Technologies to participate – I hope they join the discussion."

Sources:

MSNBC STORY, Electric Hummer gets 100 mpg — more or less, May 20, 2009:
http://www.msnbc.msn.com/id/30845961/

Raser Technologies Response
http://www.rasertech.com/news/raser-in-the-news/msnbc-reports-elect...

Electric-Powered HUMMER H3 Vies Against Prius As SUV Answer To Green Machine
http://www.unlimiteddirt.com/offroad/truck-suv-4x4/hummer/974-elect...

[AlternativeEnergy.com]

Raser Technologies Executes Term Sheet with Southern California Public Power Authority for a Potential 110 MW Pre-Paid Power Purchase Agreement

PROVO, Utah--(BUSINESS WIRE)--Raser Technologies, Inc. (NYSE: RZ) announced that it has entered into a term sheet with the Southern California Public Power Authority (“SCPPA”) to sell 110 megawatts of renewable geothermal power to certain SCPPA member municipalities in a pre-paid arrangement. The power plants would be built at Raser’s Thermo, Utah site, over a three year period.

The term sheet establishes the basic terms of a Power Purchase Agreement, or “PPA,” under which Raser would develop 110 MW of geothermal power for sale to SCPPA in a pre-paid arrangement. Under a pre-paid PPA, the purchaser of the power pays for a portion of the expected power generation up front and then pays a reduced monthly amount for the remaining power and environmental attributes. The term sheet is non-binding, and either party can end discussions at any time, for any reason, without liability to the other party.

Pre-paid PPAs are structured to take advantage of the municipalities’ ability to borrow at favorable rates to purchase power up front at a reduced rate. This allows the municipalities to improve the economics of the transaction and provide greater price stability over the life of the agreement, as well as provide greater access to renewable energy projects. In turn, a pre-paid structure allows developers like Raser to secure funding for their projects from an alternative source in challenging economic times. The pre-paid PPAs would provide Raser with greater flexibility for planning and developing its commercial geothermal power projects.

Richard Clayton, Executive Vice President for Raser, said, “We are excited to have signed this term sheet and be nearing completion of negotiations for this significant power purchase agreement with SCPPA. We have had productive discussions with SCPPA to date and hope to finalize the PPA in the near future.”

About SCPPA

The Southern California Public Power Authority (SCPPA) is a joint powers authority consisting of 11 municipal utilities and one irrigation district. SCPPA members deliver electricity to approximately 2 million customers over an area of 7,000 square miles, with a total population of 6 million. The Members include the municipal utilities of the cities of Anaheim, Azusa, Banning, Burbank, Cerritos, Colton, Glendale, Los Angeles, Pasadena, Riverside, Vernon, and the Imperial Irrigation District. SCPPA was formed in 1980 to finance the acquisition of generation and transmission resources for its members. Currently, SCPPA has five generation projects and three transmission projects, bringing power from Arizona, Nevada, New Mexico, Texas, Utah, and Wyoming.

About Raser Technologies

Raser (NYSE: RZ) is an environmental energy technology company focused on geothermal power development and technology licensing. 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 segment. Raser’s Transportation & Industrial 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.

[AlternativeEnergy.com]

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