Raser to work with FEV Engine on plug-in hybrid

Provo, Utah-based Raser Technologies (NYSE: RZ) today named Auburn Hills, Mich.'s FEV Engine Technology as the integrator for a plug-in hybrid electric vehicle project.

The companies plan to develop a demonstration vehicle using Raser Technologies' Symetron electric motor and power electronic drive powertrain technology.

"FEV is one of the global leaders in powertrain and vehicle integration and has extensive experience in working with the Big 3 and with leading automotive OEMs globally. We look forward to demonstrating Symetron technology in a new drive system," said Jim Spellman, VP of transportation at Raser.

Raser said its goal is a vehicle that can get more than 100 miles per gallon.

Founded in 2002, Raser also develops geothermal power and bottom-cycling operations that generate electric power from the waste heat of existing power plants and industrial facilities (see Raser signs eight more geothermal leases).

Last week, the company announced that it would begin drilling on a geothermal production well in Utah's Escalante Desert for use in a 10 megawatt binary-cycle geothermal power plant.