Congress Passes Bill Including $2.1 Million in 2006 for Hybrid Electric Military Vehicle Research & DevelopmentPROVO, Utah--Dec. 2, 20059, 2005--Raser Technologies, Inc. (PCX:RZ) ("Raser"), a technology licensing company that develops and licenses advanced electric motor, electronic motor drive and related technologies, today acknowledged the passage of HR2863 on December 21. With this final bill approved by Congress, it is anticipated that the President will sign it into law.
Included in HR2863 is $2.1 million of a proposed $12 million multi-year program for the development of Hybrid-Electric Military Vehicles, including Integrated Starter Alternator research and development. The funding will be administered by the Department of Defense.
In 2005, Raser was active in developing integrated starter alternator designs for the US Military for potential use in Future Combat System vehicles including a hybrid HMMWV (Humvee) under a Small Business Innovation Research grant ("SBIR").
"An electric hybrid vehicle using integrated starter alternators and other advanced electric drive systems will present our military with more options in increased fuel economy, onboard power generation and in-field tactical advantages which may help to facilitate our military's rapid deployment strategies," said Brent M. Cook, CEO for Raser. "Building on the success of our Phase I SBIR grant, we have supported Senators Bennett, Hatch and other key legislators in introducing a program for Hybrid Electric Military Vehicles. Congress acknowledged the need and the potential for incorporating new hybrid vehicle technologies in their truck fleet to help the military in terms of economy of operation, rapid deployment, stealth tactics on the ground and promoting the safety of our troops."
About Raser Technologies
Formed in 2003, Raser believes that its current and pending patents and proprietary intellectual property cover breakthrough technologies. Raser's Symetron(TM) technologies more efficiently harness electrical energy in electric motors, electronic motor drives and controllers, alternator and generator technologies. Application of Symetron(TM) generally requires minor changes to existing manufacturing processes for motors or their controllers, but yields significant increases in power, performance and efficiency to the rotating electro-magnetic application without the use of exotic materials. Raser is headquartered in Provo, Utah. Further information on Raser may be found at: http://www.rasertech.com.