Raser Technologies to Report 2010 Second Quarter Financial Results on August 10, 2010 and Advises of NYSE Deficiency Notice

Raser Technologies, Inc. (NYSE: RZ), an energy technology company, announced today that management will report its 2010 second quarter financial results after the market closes on Tuesday, August 10, 2010. Management will host a conference call to discuss the results with the investment community on Wednesday, August 11, 2010:

Time: 5:00 p.m. Eastern Time (3:00 p.m. Mountain Time)

Date: Wednesday, August 11, 2010

Dial-in (investors): 1-877-407-4018 (domestic U.S.) or 1-201-689-8471 (internationally)

Live Webcast: http://www.talkpoint.com/viewer/starthere.asp?Pres=132041

A replay will be available until August 18, 2010, which can be accessed by dialing 1-877-870-5176 if calling within the United States or 1-858-384-5517 if calling internationally. Please enter pin # 355130 to access the replay.

Raser also advises that the New York Stock Exchange (NYSE) notified Raser on July 30, 2010 that it was no longer in compliance with the NYSE’s continued listing standards for total market capitalization and stockholders’ equity, which were below the NYSE required $50 million threshold.

The NYSE notified Raser that it has 18 months to achieve compliance with these continued listing standards. Under applicable NYSE rules, Raser has 45 days from the receipt of the notice to submit a plan to the NYSE to demonstrate its ability to achieve compliance with the continued listing standards within 18 months. Raser intends to submit a plan to the NYSE and has been in active discussions with the Exchange to correct this deficiency.

During this process Raser’s common stock will continue to be listed on the NYSE, pending review by the NYSE of Raser’s plan, subject to Raser’s compliance with other NYSE continued listing requirements.

About Raser Technologies

Raser (NYSE: RZ) is an environmental energy technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment develops clean, renewable geothermal electric power plants with one operating plant in southern Utah, and eight active and early stage projects in four western United States: Utah, New Mexico, Nevada and Oregon, as well as a concession for 100,000 acres in Indonesia. Raser’s Transportation and Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser’s award-winning Symetron™ technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our ability to regain and maintain compliance with NYSE continued listing standards. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology and third-party technology for the intended applications; our ability to secure necessary permits; the strength of our intellectual property; our ability to attract, train and retain key personnel; and such other risks as identified in our quarterly report on Form 10-Q for the quarter ended March 31, 2010, as filed with the Securities and Exchange Commission, and all subsequent filings.

All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.