Turbine Truck Engines' CEO to Discuss Joint Venture with Vice Chairman of Major International Engine Manufacturer | TTE to Survey Facilities of Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd. on Friday
DeLand, Florida | August 26, 2009
The Company is pleased to announce that Mr. Du Feng, Vice Chairman of Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd. (Aerospace Mitsubishi), has invited the CEO of Turbine Truck Engines, Inc. (TTE) (OTCBB: TTEG) to Shenyang, China, for high-level discussions regarding a joint venture to develop and manufacture versions of TTE's patented Detonation Cycle Gas Turbine (DCGT) engine. Mr. Rouse will meet with top executives Friday, and also tour Aerospace Mitsubishi’s state of the art 300,000 square meter facility with Mr. Xia Fang, Aerospace Mitsubishi's production manager. Aerospace Mitsubishi is a leading manufacturer of engines for sale in China and throughout the world.
TTE previously allied with China's Aerospace Machinery and Electric Equipment Company, Ltd. (AMEC) to develop the DCGT for China's bus and automotive markets. AMEC’s sister company, China Aerospace Automotive Industry Group (Aerospace Automotive), is a 30% interest Joint Venture partner in Aerospace Mitsubishi. Aerospace Automotive will be the channel through which AMEC will access Aerospace Mitsubishi resources.
Departing Beijing for Shenyang on Wednesday afternoon, Mr. Rouse stated, "This is a huge opportunity for Turbine Truck Engines. Aerospace Mitsubishi is one of the premier automotive manufacturing companies in the world, and we believe their partnership will rapidly accelerate us toward our goals."
About Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd.
Aerospace Mitsubishi was established in 1997 as a Joint Venture between five partners from China, Japan and Malaysia, including the major share holders China Aerospace Automotive Industry Group and Mitsubishi Motors Corporation of Japan, to develop, test, and manufacture automobile engines and transmissions in China. The company is based in the important industrial center of Shenyang, in northeast China, and employs approximately 800 people - including approximately 120 engineers and technicians.
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.