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20 January 2006 - Raser Technologies, a technology licensing company that develops and licenses advanced electric motor, electronic motor drive, power generation and related technologies is to acquire Amp Resources, a private company with technologies focused on power generation.

Under the terms of the agreement, Raser will acquire Amp and its portfolio of technologies for heat transfer and renewable power generation. Raser will also assume ownership of multiple, long-term geothermal energy sales contracts with public and private utilities.

These contracts are worth a combined $966m from gross energy sales over 20 years. It is anticipated that the related power generation projects will be developed and placed in service by December 2007.

Amp stakeholders will receive up to 10 million shares of Raser common stock and approximately $38m in cash. Raser will also assume liabilities and approximately $50m in debt, which it intends to settle within 12 months of closing its acquisition.

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