Raser Technologies, Inc. Hires Hybrid Vehicle Expert for Transportation Market Development

PROVO, Utah--Raser Technologies, Inc. (NYSE Arca: RZ) (“Raser”), a technology licensing company established to develop and license advanced electric motor, controller and related technologies, today reported that the company has hired James A. Spellman as Director – Business Development – Transportation. In this new role, Spellman will direct Raser’s efforts to commercialize the company’s Symetron™ technologies in transportation markets.

Spellman, 49, joins Raser after a 27-year career with Remy International, formerly the Delco Remy division of General Motors. As Director of Hybrid Technology, Spellman organized a group to lead Remy’s entry to the hybrid motor and energy storage market. Spellman was a leader of teams in the U.S. and Europe that developed and commercialized both belt-driven and shaft-driven motor systems for hybrid vehicles ranging from automobiles to Class 8 trucks. Prior to his work with hybrid technologies, he served in key quality, engineering and design posts within Remy. Spellman holds a bachelor’s degree in mechanical engineering from the University of Pittsburgh and a master’s of business administration from Indiana Wesleyan University.

“Raser’s alternator innovations offer immediate benefit in heavy duty transportation applications, and the ISA technology offers great improvements for electric motors and controls for hybrid electric vehicles and mobile power generation,” said Spellman. “I look forward to applying my experience in the transportation markets to commercialize these exciting technologies.”

“Jim is an outstanding addition to the Raser team,” said Raser President Patrick J. Schwartz. “His groundbreaking work with the world’s largest automotive manufacturer is a perfect fit for Raser’s ongoing development of alternator and integrated starter-alternator (ISA) technologies. The U.S. Army recently funded continued development of our P-50 ISA, and Jim’s technical and market knowledge of the hybrid space will help Raser continue that R&D momentum into commercial applications.”