PROVO, Utah--(BUSINESS WIRE)--Raser Technologies, Inc. (NYSE: RZ), an energy technology company, announced results from a recent test drive demonstrating over 50 miles of all-electric range by its electric Hummer H3E during a preliminary road test.
“I am very proud of our team and their work to reach this important milestone,” said Jim Spellman, Vice President of Business Development. “Battery range of this innovative vehicle was more than sufficient to exceed our performance target of 40 miles in all-electric mode. In fact the H3E drove over 50 miles using only approximately 60% of the battery pack. This initial test indicates that the vehicle should easily achieve over 100 miles per gallon in typical local daily driving. The positive results from this test indicate that we can downsize our battery pack, reducing cost and weight of the vehicle, and still achieve the 40 mile all-electric range needed for optimized typical driving.”
The course used for the test included a combination of city and highway driving with an average speed of 45 mph and with speeds up to 60 mph. The 40-mile electric-only range test is significant because a majority of Americans drive fewer than 40 miles a day. When driving beyond 40 miles, the vehicle’s range extender would automatically generate the electricity needed to drive up to 400 miles. The range extender consists of a small gas powered engine which kicks in only to re-charge the batteries.
“It’s important to note that Raser’s electric Hummer H3E can achieve similar results to the Chevy Volt,” added Mr. Spellman. “The main difference is that our electric powertrain can be used in larger vehicles, such as SUVs and trucks. In fact, if we were to employ the method we believe was used recently by GM to estimate city fuel economy for the Volt, the electric Hummer H3E could achieve more than 190 mpg in city driving using about 70% of the battery pack.”
“The Hummer performed beautifully with better than expected fuel economy and great acceleration,” said Kraig Higginson, Chairman, Raser Technologies. “Most importantly, it did all this with zero direct emissions running entirely on electricity.”
To view video documentation of this test-drive, click on this link http://www.rasertech.com/test-drive
Raser plans to conduct additional testing to demonstrate the vehicle’s estimated total range of up to 400 miles using the on-board range extender.
The electric Hummer H3E is a plug-in electric vehicle powered by Raser’s proprietary E-REV (extended range electric vehicle) powertrain. The new electric powertrain replaces the vehicle’s large gasoline engine with a powerful electric motor-drive system, Lithium Ion batteries and a small, efficient, gas/electric generator or “range extender. When driving less than 40 miles a day in a typical drive, the vehicle should actually use little or no gas with near zero emissions. The cost of electric fuel averages just about 60 cents per equivalent gallon or about one forth the cost of gasoline on average.
For more information on Raser’s electric Hummer H3, see http://rasertech.com/hummer
About Raser Technologies
Raser (NYSE: RZ) is an environmental energy technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology. Raser’s Transportation and Industrial 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.
Cautionary Note Regarding Forward-Looking Statements
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: our beliefs about the performance and market applicability of our products; our beliefs about the status and enforceability of the Company's intellectual property; our beliefs about the strength of our existing and potential business relations in the motor industry; our beliefs about the strength and enforceability of our agreements, our beliefs about the performance capabilities of our technology; our beliefs about the capabilities, expertise and intentions of our partners; our ability to hire, train and retain key personnel; our ability to successfully complete field testing of Symetron™ technologies. 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; the strength of our intellectual property; our inability 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 June 31, 2009, 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.