RZ News Raser to Unveil New Electric Motor Design at the Electric Vehicle Symposium in Yokohama, Japan
PROVO, Utah--(BUSINESS WIRE)--Raser Technologies, Inc. (NYSE Arca: RZ), a technology licensing company
established to develop and license advanced electric motor, controller
and related technologies, announced today that it plans to unveil a new
more powerful electric motor design for electric, and hybrid-electric
vehicles next week at the 22nd Electric Vehicle
Symposium (EVS-22) held October 23-28, 2006 in Yokohama, Japan. The
Electric Vehicle Symposium is the premiere venue for the worldwide
hybrid and electric vehicle industry.
Raser will announce a new 100-kilowatt AC induction based electric motor
design called the Symetron™ P-100 in a press
conference at the show. The P-100 was designed to double the performance
of the company’s award winning P-50 integrated
starter alternator. The Symetron™ P-100 is one
in a series of high-horsepower motor designs Raser is developing to meet
the demand for more onboard electric horsepower required by the next
generation of strong hybrids, plug-in hybrids and fuel cell vehicles.
These vehicles are more electrically dominant than today’s
mild hybrids and often require the electric motor to serve as the
primary drive for the vehicle.
“As hybrid vehicles evolve, requiring more
power from the electric motor, and production volumes increase, we
believe that Raser’s economical AC induction
based technology will deliver the power and economy automakers seek to
be competitive, along with the reliability that consumers demand,”
said Raser CEO Brent M. Cook.
The electric motors used in today’s mild
hybrid vehicles typically deliver 15-20 kilowatts of power utilizing
permanent-magnet synchronous motors (PMSMs) that require expensive
rare-earth magnets to operate. Permanent magnet motors generally become
even more expensive as the motors get larger.
Raser’s AC induction based technology,
recently awarded the Drive System Technology Innovation of the Year
Award by Frost & Sullivan, achieves its high performance through
advancements in motor control software and motor design, without
requiring the use of permanent magnets. The Raser motor design offers
automakers and their suppliers the performance and form factors
comparable to PMSM-based systems, but provides the economy and
reliability of the AC induction based platform. This cost-effective
alternative may help automakers reduce costs and improve reliability to
bring next generation hybrids more within reach of mainstream consumers.
Since the highly successful introduction of the Toyota Prius and Honda
Civic hybrids, automobile manufacturers have responded to increasing
customer demand by adding more hybrid models to their line-ups. This
increased demand is due in part to a shift in hybrid buyers, from the
environmentally minded, to the mainstream consumer, more concerned with
rising fuel costs.
In addition to unveiling the new motor design, Raser will exhibit other
new implementations of its Symetron™ family of
technologies, including its new high output, high efficiency brushless
alternator technology, designed to improve performance and fuel economy
in conventional vehicles and its award winning P-50 integrated starter
alternator.
Kraig T. Higginson, executive chairman of Raser, added, “We
believe Raser will be a significant participant in this growing market
in the future by offering high performance cost-effective alternatives.
These recent advancements should allow Raser to provide a more
economical motor-drive technology for the next generation hybrids.”
About EVS-22
The Electric Vehicle Symposium and Exposition (EVS) is the world's
largest international symposium of its kind and hosts International
Battery, Hybrid and Fuel Cell expositions. The first symposium was held
in 1969 in Phoenix, Arizona in the United States, and will celebrate its
22nd symposium in 2006. Affiliated with the World Electric Vehicle
Association, the symposium has been organized alternatively among
Americas, Europe and Asia-Pacific. This will be the second time for
Japan to host EVS since 1996. More information on EVS-22 is available
at: http://www.evs22.org
About Raser Technologies
Raser is a publicly traded technology licensing company focused on
improving the efficiency of rotating electro-magnetic and heat transfer
applications within the Transportation, Industrial and Power Generation
markets. Further information on Raser may be found at: www.rasertech.com.
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 the Company's beliefs about the Symetron™
technology; the status and enforceability of the Company’s
intellectual property; the allocation of capital and the company's
commitment to the development and testing of the Symetron™
technologies; its applications, performance characteristics and the
business prospects for such technology and the Company; the Company’s
beliefs about the strength of its existing and potential business
relations; variances which may arise between performance projections,
test results and actual commercial performance; and the Company's future
results of operations.
These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ, including but
not limited to, our limited operating history and history of losses, our
inability to compete effectively in the marketplace, our inability to
improve or the strength of our patents and other intellectual property;
our inability to project the value of the hybrid market and such other
risks as identified in our quarterly report on Form 10-Q for the period
ended June 30, 2006, as filed with the Securities and Exchange
Commission, and all subsequent filings, which contain and identify
important factors that could cause the actual results to differ
materially from those contained in our projections or forward-looking
statements.
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.
