AES, Global Power Company Joins Plug-In Hybrid Consortium

ARLINGTON, Va.--Aug. 14, 2006--The Plug-In Hybrid Development Consortium ("Consortium") and The AES Corporation  today announced that AES has joined the Consortium in support of Plug-in Hybrid Electric Vehicles (PHEVs). The Consortium is made up of a growing number of automotive suppliers, manufacturers and other organizations working together to accelerate the commercial production of Plug-in Hybrid Electric Vehicles. AES is one of the world's largest global power companies, with electricity generation and distribution facilities in 26 countries on five continents.

"As the need for alternative sources of energy continues to grow, given rising energy costs, energy security issues and environmental concerns, AES will play a leading role in meeting that increasing market need," said Robert Hemphill, AES Executive Vice President. "We see PHEVs as a practical and economical way to help meet our nation's transportation, environmental and energy goals in a sustainable way, and we look forward to continuing to play a leadership role in alternative energy through our membership in the Plug-In Hybrid Development Consortium."

Plug-In Hybrids have been gaining increasing popularity and support because they offer consumers significantly more benefits than current hybrid vehicles. PHEVs can achieve over 100 mpg fuel economy, they dramatically reduce emissions and can run on electric fuel for just 1/4th the price of gasoline. By plugging into the grid to charge extended range batteries, a Plug-In Hybrid can drive over 20 miles without turning on its combustion engine, emitting significantly less greenhouse gases than conventional vehicles. Current hybrids are limited to the small amount of electrical energy generated onboard while driving.

In addition, PHEVs can be implemented relatively quickly using the existing electric power infrastructure, unlike hydrogen fuel cell vehicles, which may require decades of development and significant infrastructure changes. With recent support by President Bush, Senator Hatch, and a growing number of Congressmen and Senators, Plug-In Hybrids are also being considered the best near-term solution for reducing a growing dependency on foreign oil.

Robert Hemphill, Executive Vice President at AES, is the company's representative to the Consortium and is helping guide the company's efforts to evaluate and participate in opportunities to promote clean, renewable electric power for transportation.

"We are pleased to welcome AES to the Consortium," said Ed Kjaer, co-founder of the Consortium and Director of Electric Transportation, for Southern California Edison. "The global strength of AES and the example of their innovative leadership in the power industry are valuable additions to this organization and will help accelerate PHEV development and public support.

PHEV Factoids:

  • Electric Fuel is just 1/4 cost of petroleum fuel with zero vehicle emissions.

  • PHEVs dramatically improves fuel efficiency. 100 mpg or higher PHEV hybrids are being demonstrated now.

  • PHEVs offer an immediate, near-term way to dramatically reduce dependency on foreign oil.

  • PHEVs running on grid power, significantly reduce greenhouse gases over conventional vehicles.

  • The electrical infrastructure is already in place to support PHEVs in high volume.

  • Night time charging may help reduce utility rates by balancing peak and off-peak demand.

  • Home recharging is convenient and requires only an extension cord.

About AES

AES is one of the world's largest global power companies, with 2005 revenues of $11 billion. With operations in 26 countries on five continents, AES's generation and distribution facilities have the capacity to serve 100 million people worldwide. Our 14 regulated utilities amassed 2005 annual sales of over 82,000 GWh and its 122 power generation facilities have the capacity to generate approximately 44,000 megawatts. Our global workforce of 30,000 people is committed to operational excellence and meeting the world's growing power needs. To learn more about AES, please visit www.aes.com or contact AES media relations at media@aes.com.

About The Consortium

The Consortium was organized to coordinate and accelerate the development of critical new solutions while reducing the development time for the next generation Hybrid vehicles. The members of this growing Consortium plan to develop compatible components and cost effective working designs, to help make PHEVs commercially viable. More information about the Consortium may be found at: www.hybridconsortium.org.


Contact:

Plug-in Hybrid Development Consortium
Raser Technologies Inc. (NYSE Arca:RZ)
David West, 801-765-1200

or

The AES Corporation (NYSE:AES - News)
Bob Hemphill, 703-682-6650

or

Pacific Gas & Electric (NYSE:PCG - News)
Brian Stokes, 415-260-3145

or

ElectroVaya (TSX:EFL - News)
Dr. Shankar Das Gupta, 905-855-4610

or

Maxwell Technologies (NASDAQ:MXWL - News)
John Miller, 858-503-3383

or

Southern California Edison
(NYSE:EIX - News) Ed Kjaer, 626-302-1324