AUSTIN, Texas--(BUSINESS WIRE)--May 10, 2006--The Plug-In Hybrid Development Consortium (the "Consortium") announced today that Austin Energy, a public utilities company in Austin, Texas ("Austin Energy"), and the Plug-In Partners, a national grassroots campaign working to build public support for Plug-in Hybrid Electric Vehicles, have joined with the Hybrid Consortium as Advisory members. 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 (PHEVs).

Austin Energy is the nation's 10th largest community-owned electric utility and maintains the top-performing renewable energy program in the United States. Austin Energy has been a long-time advocate for plug-in hybrid vehicles and joins with other prominent utility companies including Pacific Gas and Electric (NYSE:PCG - News) and Southern California Edison (NYSE:EIX - News) in support of the Plug-in Hybrid Development Consortium. To demonstrate their commitment to PHEVs, Austin Energy signed a "soft order" petition to purchase 40 plug-in hybrid vehicles for its own municipal fleet.

"Austin Energy is pleased to join with the Consortium alongside other utility companies in support of plug-in hybrid electric vehicles. By working together we can build a stronger unified voice advocating the development of PHEVs and the use of clean renewable energy for transportation. We believe that plug-in hybrid electric vehicles can be practical and cost-effective and are pleased to support the cooperation between the Plug-In Partners and the Consortium," said Lisa Braithwaite, spokesperson for Austin Energy.

Plug-In Partners is a national grassroots initiative to demonstrate to automakers that a market for flexible-fuel Plug-in Hybrid Electric Vehicles (PHEVs) exists today.

The Plug-in Partners national campaign hopes to demonstrate the viability of this market by: garnering support in the form of online petitions and endorsements by cities across the country; by procuring "soft" fleet orders; and by developing rebates and incentives for PHEVs.

Roger Duncan has been active in the leadership of the Plug-in Partners national campaign. Mr. Duncan serves as the Campaign Coordinator for Plug-In Partners, and Deputy General Manager of Austin Energy. Mr. Duncan joins the Consortium as an advisory member.

"We are pleased to welcome Austin Energy and the Plug-In Partners to the Consortium," said Ed Kjaer co-founder of the Consortium and Director of Electric Transportation, Southern California Edison. "Roger has done a tremendous job in developing public awareness for PHEVs, and we support his innovative campaign to accelerate demand through the fleet 'soft order' program," continued Kjaer.

David West, co-founder of the Hybrid Consortium and VP Marketing, Raser Technologies (NYSE Arca:RZ), added, "By working together we can build a stronger political voice, stimulate demand through fleet orders, and deliver technical and cooperative solutions needed to make PHEVs viable for commercial production by OEMs."

About PHEVs

PHEVs are dual-mode hybrids that can run on low-cost electric fuel or gasoline. Plug-in Hybrids can deliver dramatic improvements in fuel economy by driving their first 25 to 50 miles on clean renewable electric fuel for about 1/4 the price of gasoline before turning on the combustion engine. Many experts contend that widespread use of plug-in hybrids could significantly contribute to the reduction of emissions and dependency on foreign oil.

About The Plug-in Hybrid Development Consortium

The Plug-In Hybrid Development Consortium was organized to help reduce the R&D gap between component suppliers and OEMs. The Consortium intends to work with automobile manufacturers by coordinating and accelerating the development of hybrid components and demonstrate these advanced technologies in "next generation" plug-in hybrid electric vehicles. Membership is divided into two groups: developers and advisors.

The Consortium plans to demonstrate affordable plug-in hybrid technology to automakers in a PHEV design with the potential of achieving over 100 mpg by using electric fuel for local driving.

More Information

Plug-In Hybrid Development Consortium: www.hybridconsortium.org

Plug-In Partners: www.pluginpartners.org

Austin Energy: www.austinenergy.com

Contact:

Raser Technologies, Inc.
David West, 801-765-1200
or
Austin Energy
Lisa Braithwaite, 512-322-6511
or
Plug-In Partners
Roger Duncan, 512-322-6157
or
Southern California Edison
Ed Kjaer, 626-302-1324
or
Pacific Gas & Electric
Brian Stokes, 415-260-3145