PROVO, Utah--(BUSINESS WIRE)----Raser Technologies, Inc. (NYSE Arca: RZ) announced today that it signed a memorandum of understanding (MOU) with Tecstar, LP and Wheel to Wheel, LLC, outlining their intent to work together with Raser to manufacture plug-in hybrid electric vehicles (PHEV) for utility, government, and other fleets.

Tecstar is one of the nation's leading second stage manufacturers and has been working with leading automakers to modify production line vehicles under warranty for OEM sales. Wheel to Wheel, LLC is a sister company to Tecstar and provides engineering development and prototyping support. Raser plans to have Tecstar convert popular SUV and light truck vehicles to 100 mpg plug-in series hybrid vehicles with 40 mile all electric range using Raser's proprietary Symetron(TM) electric powertrain technology and integrated series hybrid drive system to fulfill soft orders by utility, government and other green fleets. read article