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Raser Technologies Praises Congress' Energy Legislation

PROVO, Utah-(Business Wire)-October 3, 2008 - Raser Technologies, Inc. (NYSE Arca: RZ) praised today’s passage of the $700 billion financial markets rescue bill that also extends tax incentives for geothermal development. The legislative package extends the production tax credits for new renewable energy projects like Raser’s geothermal power projects. The extension grants the continued credits for renewable energy projects that are placed in service through 2010. President Bush hailed today’s vote and is expected to sign the bill into law shortly.

Brent M. Cook, Raser’s CEO, commented, “We applaud the vision of our Congressional leaders to renewable energy and believe that this important piece of legislation will stimulate the continued growth of economical and environmentally friendly geothermal energy production. The extension of the production tax credits encourages aggressive growth in renewable energy development and supports our rapid deployment strategy for building a number of geothermal power plants over the next decade.”

About Raser Technologies

Raser (NYSE Arca: RZ) is a publicly traded, 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.

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