Raser Technologies Inc. (fka RZTQE)

[califax]

Governor Arnold Schwarzenegger to Showcase Raser’s Electric Hummer H3 in a Demonstration Drive at the California State Capitol

Date : 05/28/2009 @ 8:00AM
http://ih.advfn.com/p.php?pid=nmona&cb=1243518295&article=37926974&symbol=NY^RZ

Raser Technologies, Inc. (NYSE: RZ), a leading energy technology company, will join with California Governor Arnold Schwarzenegger today to demonstrate Raser’s Electric Hummer H3, designed to achieve 100 mpg for a typical daily drive of 60 miles. The H3 uses an extended range electric vehicle (E-REV) powertrain developed by Raser Technologies. The Hummer H3 is a mid-sized SUV, similar in size to a Jeep Commander.

Governor Arnold Schwarzenegger will view the new plug-in electric Hummer H3 at the California State Capitol Thursday in a demonstration drive with Raser Chairman Kraig Higginson.

“I believe low-carbon fuel vehicles are the future and I want to see them succeed right here in California,” said Governor Schwarzenegger. “That’s why I’m bringing cars like this one to the Capitol where we can show the world there is a market for smart and innovative technologies that will also create jobs in the auto industry.”

According to a 2008 report by the U.S. Department of Transportation, trucks and SUVs account for nearly half the vehicles on the road and a majority of the emissions and fuel consumption.

“California has been known for its leadership in emissions and fuel economy standards which have been a driving force in establishing the new national CAFE standard,” said Kraig Higginson, Chairman of Raser Technologies. “We believe Raser’s E-REV powertrain will enable trucks and SUVs to meet or exceed this new standard while dramatically reducing emissions in larger vehicles,” added Higginson.

The most significant advantage of the E-REV is its ability to displace petroleum in favor of electric fuel, by driving the first 40 miles all on electricity. That’s significant because the majority of Americans drive fewer than 40 miles a day. “One of the best ways to improve gas fuel economy is not to burn gas,” stated David West, vice president of marketing for Raser Technologies and co-founder of the Plug-In Hybrid Development Consortium. “Most people will drive the Electric Hummer H3 primarily on electricity for about 60 cents per equivalent gallon of gasoline and will fill up with gas only a few times a year, rather than once a week,” added West.

In addition to plug-in electric vehicle technology, Raser is a leader in modular, low temperature geothermal power generation. Raser provides clean renewable geothermal power to California and intends to ramp up development of its large geothermal holdings to meet growing demand for base load renewable energy.

More information on the Electric Hummer H3 can be found at www.rasertech.com/hummer.