Turbine Truck Engines Poised to Capitalize on China's Burgeoning Personal Transportation Market
DeLand, Florida | August 19, 2009
China's automobile sales rose each month during the first quarter of 2009, and after a strong 2008 in which sales of private cars were up 28%, experts agree that the fifteen-month trend is a harbinger of things to come. China's luxury car market is forecast to grow at double-digit rates for the remainder of this year, and the government is using tax incentives to drive the sale of smaller cars and light trucks which will appeal to lower income families.
To meet the demand of manufacturers for fuel efficient/low emission engines, China's Aerospace Machinery and Electric Equipment Co. Ltd. (AMEC) is collaborating with Turbine Truck Engines, Inc. (TTE) (OTCBB: TTEG), a United States technology company, to develop the patented Detonation Cycle Gas Turbine (DCGT) engine. Once developed, AMEC intends to produce 150 and 450 horsepower versions of the engine, and the companies expect each engine model will reduce fuel consumption by about one-third and dramatically reduce harmful emissions when compared to existing fossil-fuel burning engines.
TTE has also entered into a strategic alliance with Tianjin Out Sky Technology Co., Ltd. (Tianjin), a leading Chinese bicycle parts manufacturer, to develop the DCGT for the motorcycle market. Researchers expect over 44,000,000 two wheel, mechanically powered personal transportation units will be sold in China in 2011.
Michael Rouse, President and CEO of TTE, has returned to China for high-level meetings with AMEC and Tianjin officials, and he observed, "These and other initiatives are part of China's effort to produce energy efficient vehicles for what is destined to become the world's largest personal transportation market. We are excited about the role the DCGT may play in the industrialization of a great nation."
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.