Raser to Acquire Power Generation Technology Company

Raser Technologies will acquire Amp Resources and its portfolio of technologies for heat transfer and renewable power generation, and will assume ownership of multiple, long-term geothermal energy sales contracts with public and private utilities that are anticipated to be in place by December 2007.

Raser Technologies is a technology licensing company that develops and licenses advanced electric motor, electronic motor drive, power generation and related technologies. Amp, a technology licensing and development company, is focused on large-scale commercialization of geothermal and waste-heat energy resources, and has developed proprietary solutions based on a patented heat transfer technology for generating electricity from zero-emission and other “green” energy resources. Raser management believes the combination of Raser and Amp will accelerate the adoption of its Symetron technologies by industrial and power generation companies. “Raser is committed to bring important new electric motor and power generation technologies to market through licensing and royalty arrangements with companies in the transportation, industrial and power generation markets. These markets form the three pillars of our strategic plan to grow Raser,” said Brent M. Cook, Raser’s Chief Executive Officer. According to the Department of Energy, approximately 23% of total U.S. electric generating capacity is provided by more than 14,000 small plants with nameplate capacities of 100 MW or less. The acquisition is subject to customary closing conditions, including regulatory approvals. Subject to regulatory approval, the two companies will develop integration plans that build on the similar missions and the best business and product development practices from each company.
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