Another Frost and Sullivan award for Raser, that's two in a row and the second in a different type of application. If Raser can close on a couple of the projects that they have working plus monetize the tax credits available for Geothermal, it will be a very good year for longs......
Press Release Source: Raser Technologies, Inc.
Raser Awarded 2007 Product Innovation of the Year for Industrial and Commercial Motors & Drives
Wednesday May 23, 8:00 am ET
PROVO, Utah--(BUSINESS WIRE)--Raser Technologies, Inc. (NYSE Arca: RZ), an energy technology company that develops and licenses advanced electric motor, controller and related technologies, today announced that it has been selected to receive the 2007 Product Innovation of the Year Award within the Industrial and Commercial Motors and Drive Category by Frost & Sullivan, one of the world's leading global growth consulting companies. Raser's President, Patrick Schwartz will receive the award in a banquet ceremony to be held June 13, 2007 in Newport Beach, California.
Frost & Sullivan recognized two specific innovations by Raser in the area of industrial applications, notably Raser's Symetron(TM) Enhanced VFD (Variable Frequency Drive) AC Induction Motor Control technology for optimizing the efficiency of variable speed motors used in industrial applications such as heating ventilation and air conditioning (HVAC) equipment; and Symetron(TM) EO (Efficiency Optimized) technology which improves the operating efficiency of line driven AC induction motors with little or no increase in manufacturing cost.
The award recognizes the benefits that Symetron(TM) Enhanced VFD and EO technologies can bring to customers by improving efficiency, reducing cost, increasing durability and reliability, and enhancing power.
Thomas Kaporch, Senior Vice President Business Development for Raser Technologies said, "Energy independence and energy efficiency are a major national priority and there has been an increase in the focus on improving efficiency of the motors and controllers used to power the pumps, fans and compressors used in HVAC and refrigeration equipment, which are some of the largest users of electrical power in homes and industry. Raser's VFD and EO technologies allow us the ability to offer a low cost solution for both variable and single speed systems."
Frost & Sullivan analyst, Farhad Abrishamkar, noted that "Symetron(TM) technology has addressed the energy efficiency issue not by requiring the addition of high cost materials, but rather by optimizing the electromagnetic properties of the motor." He added, "The great value proposition of the Symetron(TM) technology is that this optimization is achieved while keeping the manufacturing costs low, something the others have not been able to do."
This award further supports the conclusions reached by a recent project funded by the Department of Energy through the State Technology Advancement Cooperative and conducted by Advanced Energy, one of the nation's leading independent motor labs. The project was targeted on reducing cost and improving efficiency of variable speed heating ventilating and air conditioning systems (HVAC). The study recommended "the results of this project should be provided to major motor manufacturers and the utility industry in order to reduce energy costs."
Leo O'Connor, Global Director of Research for Frost & Sullivan said "the anticipated promulgation of minimum efficiency standards for HVAC equipment by the government should boost the demand for Symetron(TM) technology in the market." O'Connor added, "addressing the energy efficiency issue in the industrial markets has positioned Raser in a strong niche and as a very attractive partner for a variety of industrial manufacturers."
The ARC Advisory Group reported that HVAC is the largest single user of AC induction drives in the world, with the market for HVAC motors and drives alone approaching $4 billion annually
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