Raser Technologies, Inc. (NYSE Arca: RZ) has been awarded the 2007 Hybrid Motor Vehicles Technology Innovation of the Year by Frost & Sullivan, a leading market research firm.
In addition to developing innovative technology, Raser has demonstrated its leadership in the advancement of plug-in hybrid vehicles as the co-founder of the Plug-In Hybrid Development Consortium (hybridconsortium.org), an organization of advanced technology suppliers, utility companies and other organizations working together to help automakers accelerate the commercial development of plug-in hybrid vehicles.
Raser’s advancements in high power AC induction motor drive systems allow more affordable plug-in hybrids to drive predominantly under electric power.
Jim Spellman, Director of Business Development for Raser, said, “The next generation of hybrids will be able to drive much further on electric power, thus enabling them to make large gains in fuel economy while reducing emissions dramatically.”
Hybrid vehicle market share is expected to grow by five times over the next three years to over two million vehicles sold according to global industry analyst B&D. Analysts also generally agree that the introduction of plug-in hybrids into the market may cause market share forecasts to be reevaluated due to significant increases in consumer benefits and value.
About Raser Technologies, Inc.
Raser is a licensing and development company operating in two business segments. Raser’s Transportation and Industrial Technology segment focuses on using Raser’s Symetron(TM) technology to improve the efficiency and power density of electric motors and other applications. Raser’s Power Systems segment is seeking to develop new geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron(TM) technology.
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