Raser Prices Offering of Shares to Complete Shelf Offering

PROVO, Utah--(BUSINESS WIRE)--Raser Technologies, Inc. announced today that it has priced the public offering of 1,986,173 shares of its common stock at $8.95 per share. Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) acted as underwriter of the offering. The 1,986,173 shares, together with the 723,000 shares previously sold pursuant to Raser’s ATM Equity Offering Sales Agreement with Merrill Lynch, constitute all $25 million of the shares of common stock contemplated to be sold pursuant to the ATM Equity Offering Sales Agreement announced in June 2008. The shares are being sold pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of the shares of common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any jurisdiction. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the accompanying base prospectus, copies of which, when available, may be obtained from the SEC's website at http://www.sec.gov.