Third-Party Analysis Completed For Raser's Geothermal Well

Raser Technologies, Inc. (NYSE Arca: RZ) announced that GeothermEx Inc., an independent third party geothermal consultant, has completed and delivered its analysis of the well field for Raser’s Thermo geothermal power project near Beaver, Utah.

GeothermEx’s analysis of the resource concludes that ample resources
are available in the immediate vicinity of the announced Thermo project
to support a 10 MW net plant using the closed loop binary systems
planned for this plant.

"The resource analysis report concluded that the resource is much
larger than anticipated and we expect that as the wells continue to
heat up, it will actually provide temperatures in excess of the 280
degrees F experienced during testing," stated Brent M. Cook, CEO of
Raser Technologies. "We believe the issuance of the report puts us in a
position to finalize and close in a timely manner on the funding for
the Thermo project pursuant to the financing commitment previously
announced."

The third party analysis was a requirement of the funding agreement with Merrill Lynch, which allows for funding of up to 155 megawatts (MW) of geothermal projects.

GeothermEx reported that well #24-34 indicated 3.6 megawatts (MW) net at the well depth level Raser plans to produce, with temperatures in excess of 280 degrees F.

The report also concludes that the larger area of Raser’s Thermo resource field is most likely to sustain 238 MW gross with a 90% probability of sustaining 138 MW of geothermal energy or enough power to supply over 100,000 homes.

Raser recently announced the leasing of an additional 6,000 acres of geothermal rights on lands in the same area bringing its total interests in the area to nearly 30,000 acres.

The Thermo geothermal plant is planned to have a gross generation capacity of 14 MW when configured under Raser’s geothermal power plant design. The project is expected to sell to the purchasing utility net power generation of 10 MW to 11 MW, or enough electricity to power approximately 9,000 homes.

Raser previously announced entering into a power purchase agreement with the city of Anaheim, California, to deliver up to 11 MW of clean renewable energy from its Thermo plant in Beaver County, Utah. Raser anticipates that it will have all 50 generating units placed in service in the Fall of 2008 and delivering geothermal energy to Anaheim at that time. The generation units are scheduled to begin being connected starting in August and will be test operated until the final units are connected.

About Raser Technologies

Raser 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^TM 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^TM 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.