In a ceremony held June 13th, 2007 in Newport Beach California, Frost & Sullivan awarded Raser Technologies, two Innovation of the Year Awards in two distinct categories. Raser received the 2007 Innovation of the Year Awards for both Hybrid Motor Vehicles and Industrial Motors and Drives technologies.
Other companies being recognized at the event included, Bosch, Eaton, Honeywell and Philips. Raser Technologies was the only company to receive two Innovation of the Year Awards at the banquet.
Leo O’Conner, Global Vice President of Research for Frost & Sullivan commented at the event, “Raser was the only company to receive two awards this year from Frost & Sullivan, and we see this as being extremely unique. It is a testament to the company’s [Raser’s] technology platform and innovations that it has developed that are significant for not just one major industry, but two major industries, namely industrial and also plug-in hybrid technology.”
With these two awards, Frost & Sullivan recognized the profound impact that it believes Symetron technology might have in a broad array of applications, particularly today, where energy concerns and the environment are paramount.
At the awards ceremony, Patrick Schwartz, President Raser Technologies commented on the significance of the Awards by saying, “Energy independence is a critical national priority, and any energy savings we can attain through our technology is a great benefit to society. These two awards are another outside validation to the developments we are doing at Raser and another important step in the commercialization of this technology.”
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
Raser is a publicly-traded technology licensing and development company operating in two business segments. Raser’s Transportation and Industrial Technology segment focuses on using Raser’s Symetron(TM) technology to improve the efficiency and power density of electric motors and other applications. Raser’s Power Systems segment is seeking to develop new geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron(TM) technology.