Confirmation of at Least 10 MW Project Capacity and up to 238 MW

Gross Overall Resource Potential

PROVO, Utah–(EMWNews)–Raser Technologies, Inc. (NYSE Arca: RZ) today 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 is the

largest, most comprehensive geothermal consulting and services firm in

the Western Hemisphere. 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. 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 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.

Raser previously announced the delivery of all 50 geothermal power

generating units ordered for its Thermo project, the first commercial

geothermal power plant to be built in the state of Utah in over 20

years, in an update by the Company reporting its progress and strategic

initiatives for its geothermal power projects.

UTC Power, a United Technologies company, will assist Raser in

commissioning the 50 generating modular units that will generate

electricity at the Thermo project. The Thermo geothermal plant is

planned to have a gross generation capacity of 14 MW when configured

under Raser’s proprietary 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. Net generation takes into account the station

usage or parasitic load needed to pump the geothermal fluids throughout

the plant. It is expected that generation during the cool months will

exceed generation during the warmer months.

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.

“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. We are excited about

the progress to date on our first wave of projects and have a number of

projects being prepared for additional waves. We expect to start setting

the generating units for operational purposes at the Thermo site in the

August to September time frame so that the plant will be operational

later this year. We expect to be active in this resource field well into

the future as we plan the development of additional projects in the same

area.”

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.

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 quarterly report on Form 10-Q for the quarter ended

March 31, 2008, 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.

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