FEV, Raser to Jointly Develop Powertrain to be Fitted into Raser Plug-In Hybrid Vehicle
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FEV Engine Technology, Inc.
North American Technical Center, 4554 Glenmeade Lane
Auburn Hills, MI, 48326-1766
Press release date: November 29, 2007
FEV will serve as integrator for powertrain targeting 100 miles per gallon fuel economy
AUBURN HILLS, Mich., Nov. 29 - FEV, a leading developer of advanced powertrain and vehicle technologies, announced recently that it has entered into an agreement with Raser Technologies, Inc. (Raser Technologies) (NYSE:RZ) to integrate Raser Technology's Symetron(TM) electric motor and power electronic drive powertrain technology into a traditional internal combustion gasoline engine. Raser recently announced that it had signed an agreement with an undisclosed global automotive manufacturer to produce a plug-in hybrid electric demonstration vehicle using Raser's technology. The resulting demonstration vehicle is targeted to achieve a fuel economy of approximately 100 mpg.
The project builds on the reputation that FEV has gained in developing alternative fuel and powertrain solutions for its OE customers as well as other commercial and government customers such as the U.S. Environmental Protection Agency.
"We look upon this project as an opportunity to demonstrate powertrain innovation," said Gary Rogers, president of FEV's U.S. operations. "The speed of change in the powertrain industry requires vision and rapid development. Through projects such as this in conjunction with Raser, we are able to apply practical technologies that will result in reduced fuel consumption and preservation of our environment."
Jim Spellman, Raser's vice president of transportation, said, "We are excited to be working with FEV on this project. FEV is a global leader in powertrain and vehicle integration with extensive experience in powertrain development for OE customers. This experience will enable Raser Technologies and FEV to develop a viable vehicle with application in today's marketplace."
About Raser Technologies Raser (NYSE:RZ) is a publicly-traded, environmentally-focused technology licensing and development company operating in two business segments. Raser's Transportation and Industrial Technology segment focuses on using Raser's award-winning Symetron(TM) technology to improve the efficiency of electric motors, power electronic drives and other applications. 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(TM) technology. Further information on Raser may be found at: http://www.rasertech.com/.
About FEV FEV is an internationally recognized powertrain and vehicle engineering company that supplies the global transportation industry. FEV offers a complete range of engineering services, providing support across the globe to customers in the design, analysis, prototyping, powertrain and transmission development, as well as vehicle integration, calibration and homologation for advanced internal combustion gasoline-, diesel-, and alternative-fueled powertrains. FEV also designs, develops and prototypes advanced vehicle / powertrain electronic control systems and hybrid-electric engine concepts that address future emission and fuel economy standards. FEV Test Systems, Inc. is a global supplier of advanced test cell, instrumentation and test equipment. FEV employs a staff of over 1,400 highly skilled specialists at advanced technical centers on three continents.
CONTACT: Leah Heidt, +1-248-373-6000, firstname.lastname@example.org, or Marc Harlow, email@example.com, both of FEV Engine Technology, Inc.; or Joe Rohatynski of Rohatynski-Harlow Public Relations for FEV, +1-517-579-0789, firstname.lastname@example.org