Raser Formula Racecar Driven by Indy 500 Winner Danny Sullivan at SAE World Congress
SAE 2005 World Congress
DETROIT--April 15, 2005--Raser Technologies, Inc. (OTCBB: RSTG) (“Raser” or the “Company”), a technology licensing company that develops and licenses advanced electric motor, controller and related technologies, has announced that racing legend Danny Sullivan, winner of the Indianapolis 500, drove a Formula racecar powered by Raser’s Symetron(TM) electric drive system in a demonstration at the Dana automotive proving grounds near Detroit Michigan yesterday.
The test drive featured Raser’s breakthrough high torque AC induction drive system. Raser organized the event to introduce Symetron(TM) technology to major automotive manufacturers and their suppliers, and to highlight recent test results which demonstrate Symetron(TM) technology to be the most powerful electric drive system available for hybrid and fuel cell electric cars today.
“This demonstration illustrates how Symetron(TM) technology can be applied to hybrids to assist the combustion engine, and also has the power to replace the combustion engine and drive electric motor dominant vehicles of the future,” said D. J. Priano, Senior Vice President for Raser.
Attending the demonstration were representatives of the military, major auto manufacturers and their suppliers. Dennis Wend, Executive Director, U.S. Army, National Automotive Center commented, “The Army is an early adopter of new technology. That’s why Raser was awarded a contract to apply their advanced technology in a new ISA design for Army hybrid vehicles. What we’re seeing today shows that this technology may be even more beneficial as we move to electric motor dominant hybrids and fuel cell vehicles because of its economy, high torque and operating range.”
Danny Sullivan has won 17 major races and is best known for his spectacular “spin and win” victory over Mario Andretti in the 1985 Indianapolis 500. Danny commented, “It’s clear that cars are going through a major evolution that will make hybrid electric technology key to the vehicles of choice in the near future. This evolution is not just for fuel economy and reduced emissions; adding a high power electric drive to a car can boost its acceleration and overall performance. I believe in the technology Raser has introduced here today to the automobile industry. Symetron(TM) technology is more powerful than anything we’ve had before, and makes it possible for us to drive the kinds of cars we prefer while enjoying the benefits of hybrid technology.”
Information on Raser Technologies http://www.rasertech.com
Information on Race Driver Danny Sullivan
About Raser Technologies
Formed in 2003, Raser Technologies believes that its pending patents and proprietary intellectual property cover breakthrough technologies. Raser’s Symetron(TM) technologies more efficiently harness electrical energy in electric motors, controllers, alternator and generator technologies. Application of Symetron(TM) generally requires minor changes to existing products, but yields significant increases in power, performance and efficiency without the use of exotic materials. Further information on Raser Technologies, Inc. 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 the following: the designs of the electric motors and controllers; the Company’s beliefs about the electric motor and controller technology, and related performance capabilities; the Company’s beliefs with respect to the benefits of its technologies, the prospects for commercial application of the technology; and the Company’s beliefs with respect to the electric motor vehicle market. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, our limited testing and application of our technologies, our inability to successfully license our technology, our inability to raise capital on terms acceptable to us, our inability to achieve commercial acceptance of our technology, our inability to compete effectively in the marketplace, our inability to improve or implement effective systems, procedures and controls, the strength of our patents and other intellectual property and those of our competitors, our inability to protect our intellectual property, our inability to attract, train and retain key personnel, and such other risks as identified in our annual report on Form 10-KSB for the period ended December 31, 2004, as filed with the Securities and Exchange Commission, and all subsequent filings, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. 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.
- Contact Information
- D.J. Priano
- Raser Technologies, Inc.
- Contact via E-mail
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