Fast Start for Turbine Truck Engines / AMEC Alliance
AMEC a Subsidiary of China Aerospace Science and Industry Corporation
DeLand, Florida | February 24, 2009
Turbine Truck Engines, Inc. (TTE) (OTCBB: TTEG) and Aerospace Machinery and Electric Equipment Co. Ltd. (AMEC) announced today that important progress has been achieved since the signing of their Strategic Alliance Agreement on January 21, 2009.
AMEC has assembled a team of engineers to begin work on the design and development of the new 150 and 400 hp engine prototypes, which are to be tested in AMEC’s own R&D facilities. “From the onset, AMEC has exhibited a sincere determination in advancing the project, and the speed with which they have put their team together is, I think, indicative of the value they see in our technology,” observed Mr. Michael Rouse, CEO of TTE.
Mr. Fan Wei, the AMEC Vice President and Senior Engineer who orchestrated the alliance, commented, “We believe that the Detonation Cycle Gas Turbine engine concept represents a very important step in the evolution of engine technologies, and AMEC is very proud to be associated with a technology that not only produces higher energy output, but also significantly cleaner emissions. We will be working diligently to bring the engine to the practical stage, for use in China, in the near future. We think this is a revolutionary product and we believe that, due to the collaboration with TTE, AMEC will become a very important partner in the development of this fine, and environmentally friendly, technology.”
Mr. Rouse added, “As investors learn more about the vast resources AMEC can provide, I have little doubt that they will recognize the enormous opportunity TTE now represents. Our goal has always been getting TTE engines on the road, promoting cleaner air and greater fuel efficiency; and we feel our relationship with AMEC brings us much closer to achieving this goal.”
About Aerospace Machinery and Electric Equipment Co. Ltd.
AMEC is a wholly owned subsidiary of China Aerospace Science and Industry Corporation (CASIC) which takes full advantage of the resources provided by the parent corporation. Founded in 2002, AMEC is an integrated company specializing in the manufacture of civilian products, technical and industrial engineering services, and trading. Executive management is proficient in scientific research, production capacity utilization, labor coordination, and production logistics of complete assembly systems. AMEC is located in the Haidian District, near the Aerospace Bridge in Xishanhuan, Beijing, China. Currently, the AMEC workforce consists of over 3,000 full time employees and outside researchers within universities and industrial groups.
The parent corporation, CASIC (www.casic.com.cn), is one of the largest state owned enterprises in China and employs more than 100,000 people, with over 40% technical and engineering personnel. CASIC is comprised of seven research institutions, two manufacturing bases and several production enterprises. Of the 150 CASIC subsidiaries, six are already publicly traded companies on the Hong Kong and China Exchanges. The corporation is responsible for the development of China’s manned space program and is considered the most technically advanced enterprise in China.
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.