Prudential Capital Group Joins Syndicate in Raser’s Thermo Project Financing

Raser Technologies, Inc. announced that Prudential Capital Group, an institutional investment division of Prudential Financial, Inc., purchased the permanent debt financing for Raser’s 10 megawatt (MW) Thermo geothermal power project near Beaver, Utah, from the original project financier. The approximately $31 million of non-recourse debt financing helped construct the Thermo geothermal power plant which completed major construction elements last week. The tax equity capital was retained by the tax equity partner entitling them to most of the tax benefits provided by the renewable energy project.

Ric Abel, Managing Director of Prudential Capital Group, said, “We are excited to be a part of this unique renewable energy project. We believe Raser’s rapid deployment strategy positions them to play a leading role in the future of America’s energy independence. We are seeking to expand our involvement in this important burgeoning industry and plan to work closely with Raser as this project is brought on line.”

Brent M. Cook, Raser’s CEO, commented, “We are pleased to have the support of our existing as well as another high caliber institution such as Prudential to further expand our financial partners. We applaud their vision in investing in this baseload renewable energy with zero emissions and look forward to working with them more closely in the future.”

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.