Raser Technologies Completes Final Preparations to Begin Delivering Power to the City of Anaheim

The commissioning date was extended while the local utility in Utah
completed the installation of the SCADA equipment needed to monitor
transmissions on the grid. Raser has already been supplying about 3.5
megawatts (MW) of sustained power generated at the plant to the local
utility while final preparations were completed. Raser plans to ramp up
the amount of power delivered to Anaheim over the next few weeks.

"We are very pleased with the progress that we have made to date and
believe that commissioning of the plant has gone very much in line with
expectations," said Steven Brown, Executive Vice President of Raser.
"While there may be minor modifications needed from time to time, the
plant is now ready to complete its ramp up. We have operated all of the
UTC units over an extended period and I have been very pleased with
their performance as well as the level of dedication the team has shown
to complete the work on the project. Once we have the final production
well linked to the plant, we expect to be able to ramp up to the 10 to
11 MW net capacity. We expect to be ramped up to about 7 MW and begin
sending the power to Anaheim by the end of next week."

Brent M. Cook, CEO of Raser, said, "Raser is achieving something that
has never been done before in the power generation industry, and in
record time. Steve and his team have done a terrific job in putting
together the first truly modular commercial geothermal power plant in
such a short period of time. All of the generators and components within
the plant have now been proven-out in operation and performed above our
expectations. We look forward to completing the ramping up process and
expect to be at full capacity within the next few weeks."

About Raser Technologies

Raser (NYSE: RZ | Quote | Chart | News | PowerRating) is an environmentally focused Energy Technology 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 segment.
Raser's Transportation and Industrial 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. Further information on
Raser may be found at: www.rasertech.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contain 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 and its qualification for certain federal tax credits;
our beliefs about our ability to exploit the available geothermal
resources; our beliefs about the expected timing relating to the testing
and commissioning of our geothermal power project; our beliefs about
local utility's ability to complete their work in a timely manner; our
beliefs about our ability to obtain adequate development funding; our
beliefs about our ability to utilize our technology and other available
technologies to produce electric power from the available resources; and
our beliefs about the geothermal market in general. 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 and third-party technology for the
intended 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 September 30, 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.

SOURCE: Raser Technologies, Inc.

Investor Relations contacts: 
Raser Technologies, Inc. 
Richard Putnam, Investor Relations, 801-765-1200 
investorrelations@rasertech.com 
or 
Hayden IR 
Cameron Donahue, 651-653-1854 
cameron@haydenir.com 
or 
Public Relations contact: 
Stern & Co. 
Richard Stern, 212-888-0044 
richstern@sternco.com 
or 
Alison Simard, 323-650-7117 
arsimard@sternco.com

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