Turbine Truck Engines Secures Strategic Alliance Agreement with Leading Chinese Corporation | Alliance Intends to Create Two New Engine Designs
DeLand, Florida | January 27, 2009
Turbine Truck Engines, Inc. (TTE) (OTCBB: TTEG), a leader in an innovative clean engine technology, is proud to announce that the company has signed a Strategic Alliance Agreement with Aerospace Machinery & Electric Equipment Company, Ltd., a Chinese corporation (AMEC).
Details of the agreement call for the two companies to collaborate on the development and commercialization of TTE's Detonation Cycle Gas Turbine (DCGT) engine specifically for application opportunities in the Peoples Republic of China. Further details outline that AMEC and TTE will collaborate on modifying and applying the DCGT engine technology to create two new engine designs; a 150 hp engine for automobiles and a 400 hp engine for buses. Both parties also anticipate that, pursuant to satisfactory participation and performance by AMEC, they will enter into a Joint Venture agreement whereby TTE will grant AMEC the exclusive rights to manufacture, market and sell the DCGT engines in China. Currently TTE is testing a fifth-generation prototype clean-air engine specifically designed for trucking industry applications, using alternative fuels.
“This milestone agreement outlines the groundwork that will enhance and advance our technology from the prototype stage to real-life applications. We are overjoyed with the opportunity to collaborate with Aerospace Machinery”, stated Mr. Michael Rouse, CEO of Turbine Truck Engines. “Aerospace is a perfect fit to develop our technology in China. The company employs a talented and innovative engineering staff, extremely experienced in the design and manufacturing of industry-specific machinery, which will assist and guide our company in the modification of our engine for practical Chinese applications,” he added.
About Turbine Truck Engines, Inc.
Turbine Truck Engines, Inc. is a technology company focused on the development, manufacture and testing of its New Energy and Environmentally Efficient Truck Engine intended for mass market distribution in the United States and abroad. The new engine can utilize any known fuel source (gasoline, diesel, propane, natural gas, hydrogen, methanol, ethanol or LPG) or fuel mixture, yet needs zero coolant, lube oil, filters, or pumps. Its unique, lightweight turbine design has few moving parts, significantly reducing maintenance costs. The innovative cyclic detonation process produces a complete combustion of fuel-oxidizer mixtures, resulting in greater fuel economy and fewer harmful exhaust emissions. For more information concerning Turbine Truck Engines, Inc., visit www.ttengines.com.
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance, development and results of the company's business include, but are not limited to, fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services, and pricing, general market trends and conditions, and other risks detailed in the company's SEC reports.