Exhibit 99.1
Raser Technologies, Inc. Enters
Into Cooperative Research and Development Agreement
with the U.S. Army
PROVO, Utah—(BUSINESS WIRE)—Oct. 17,
2005—Raser Technologies, Inc. (OTCBB:RSTG—News;
“Raser”), a technology licensing company that develops
and licenses advanced electric motor, electric motor drive and
related technologies has signed a Cooperative Research and
Development Agreement (“CRADA”) with the U.S.
Army’s National Automotive Center (“NAC”) and
their Tank Automotive Research Development and Engineering Center
(“TARDEC”) to explore common interests in ground
vehicle applications of the components, designs, and technology
associated with high performance electro-magnetic equipment,
especially in hybrid electric vehicle uses.
As part of the CRADA, TARDEC and Raser will
investigate the possibility of using an integrated starter
alternator (“ISA”) in military vehicles, using
Raser’s motor technology as an ISA in the Army’s
“Humvee”, and using Raser’s motor and controller
technology in non-ISA applications in military vehicles. Under the
Agreement, the parties will share engine/vehicle design
specifications for multiple vehicles, and document
testing/performance parameters of the motors, controllers and
ISAs.
“We are confident that the CRADA framework
will accelerate the evaluation and adoption of Raser’s
Symetron(TM) technologies in military, and ultimately consumer
vehicle applications,” said Raser CEO Brent M. Cook.
“Execution of the CRADA is a significant milestone for Raser
in that it establishes our long-term working relationship with the
U.S. Army and provides for the intellectual property protection
that we require.”
A CRADA is a written agreement between a company
in private industry and a government agency to work together on a
project. Created as a result of the Stevenson-Wydler Technology
Innovation Act of 1980, as amended by the Federal Technology
Transfer Act of 1986, a CRADA allows the Federal government and
non-Federal partners to optimize their resources, share technical
expertise in a prote
