IWU ALUM NEWS: Raser Technologies, Inc. Hires Hybrid Vehicle Expert for Transportation Market Development

November 21, 2006 10:23 AM Eastern Time

PROVO, Utah--(BUSINESS WIRE)--Raser Technologies, Inc. (NYSE Arca: RZ) (“Raser”), a technology licensing company established to develop and license advanced electric motor, controller and related technologies, today reported that the company has hired James A. Spellman as Director – Business Development – Transportation. In this new role, Spellman will direct Raser’s efforts to commercialize the company’s Symetron™ technologies in transportation markets.

Spellman, 49, joins Raser after a 27-year career with Remy International, formerly the Delco Remy division of General Motors. As Director of Hybrid Technology, Spellman organized a group to lead Remy’s entry to the hybrid motor and energy storage market. Spellman was a leader of teams in the U.S. and Europe that developed and commercialized both belt-driven and shaft-driven motor systems for hybrid vehicles ranging from automobiles to Class 8 trucks. Prior to his work with hybrid technologies, he served in key quality, engineering and design posts within Remy. Spellman holds a bachelor’s degree in mechanical engineering from the University of Pittsburgh and a master’s of business administration from Indiana Wesleyan University.

“Raser’s alternator innovations offer immediate benefit in heavy duty transportation applications, and the ISA technology offers great improvements for electric motors and controls for hybrid electric vehicles and mobile power generation,” said Spellman. “I look forward to applying my experience in the transportation markets to commercialize these exciting technologies.”

“Jim is an outstanding addition to the Raser team,” said Raser President Patrick J. Schwartz. “His groundbreaking work with the world’s largest automotive manufacturer is a perfect fit for Raser’s ongoing development of alternator and integrated starter-alternator (ISA) technologies. The U.S. Army recently funded continued development of our P-50 ISA, and Jim’s technical and market knowledge of the hybrid space will help Raser continue that R&D momentum into commercial applications.”

About Raser Technologies

Raser is a publicly traded technology licensing company focused on improving the efficiency of rotating electro-magnetic and heat transfer applications within the Transportation, Industrial and Power Generation markets. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note

This press release contains certain information regarding James A. Spellman which was provided to the Company and which the Company, upon information and belief, believes to be true. This press release may 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 the Company's beliefs about its technology, and the value of such technology; the status and enforceability of the Company's intellectual property; the allocation of capital and the company's commitment to the development and testing of its technologies; its applications, performance characteristics and the business prospects for such technology and the Company; the Company’s belief about the strength of its existing and potential business relations.

Any such forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including but not limited to, our operating history and history of losses, our inability to compete effectively in the marketplace, our inability to improve or the strength of our patents and other intellectual property; our inability to project the value of the hybrid market and such other risks as identified in our quarterly report on Form 10-Q for the period ended September 30, 2006, as filed with the Securities and Exchange Commission, and all subsequent filings, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.

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.

Contacts

Porter LeVay & Rose, Inc
Michael J Porter, 212-564-4700
mike@plrinvest.com

 

IWU alum promoted to VP of human resources at Atlas World Group

Atlas World Group promotes Priebe to VP of human resources (For Immediate Release: Nov. 21, 2006 )

EVANSVILLE, Ind. – Atlas World Group, Inc. – parent company of Atlas Van Lines, Inc. – has promoted Nancy Priebe to vice president of human resources. Previously, Priebe was human resources director for Atlas Van Lines. Priebe will now maintain human resources responsibilities for all Atlas World Group companies.

Priebe has 25 years of experience in human resources and has spent the past two years with Evansville-based Atlas. Before joining Atlas she spent six years with American General Financial Services, also headquartered in Evansville. Priebe has a degree in business administration from Indiana Wesleyan and is a member of the Society of Human Resource Managers (SHRM), Evansville Human Resource Association and is a board member of Tri State Business Group on Health. She is a Certified Compensation Professional and Senior Professional in Human Resources.

“Nancy’s high level of professionalism and extensive knowledge in the human resources arena has been invaluable,” said Jim Stamm, vice chairman, president and chief operating officer of Atlas World Group. “Her new role will give her responsibility over personnel matters such as benefits and employee policies which have consistently made Atlas a desirable place to work and build a career. Nancy will continue to make Atlas a competitive business when it comes to attracting and retaining talent.”

Atlas Van Lines is the largest subsidiary of Atlas World Group, an Evansville, Ind.-based company that posted record revenues of $949 million in 2005. Atlas World Group companies employ more than 700 people throughout North America. More than 500 Atlas agents in the United States and Canada specialize in corporate employee relocation and in the transportation of high-value items such as electronics, fine art and new fixtures and furniture. Visit www.atlasworldgroup.com for more information on the company and Atlas agents.

Media Contacts:
Sara DeWitt, Atlas Van Lines, 800.638.9797, Ext. 2951
dewitts@atlasworldgroup.com

A.J. Schneider, Hetrick Communications, 317.262.8080
aj@hetcom.com