Turbine Truck Engines Poised to Capitalize on Offshore Opportunities
2009 Marks Dramatic Shift in Global Automotive Markets
DeLand, Florida | August 28, 2009
In the early 1970s, Detroit's Big Three automakers produced about 5% of the Gross National Product of the United States. In 2009, it will be less than 2%. This year, for the first time, European and Japanese automakers will sell more vehicles in the U.S. than the Big Three.
On the Pacific Rim, experts predict that over 11 million cars will be sold in China in 2009, eclipsing sales of all brands in the United States and, over the next 20 years, China is expected to lead the world in motor vehicle sales. Glimpses of the statistics underscore those predictions; over 85% of the adult population of China does not own a car, and with a population exceeding 1.3 billion, the potential market is massive. Further, the Chinese are excited about cars. Past hindrances to personal travel are being minimized and, to facilitate transportation, the country is expected to build over 30,000 miles of highways over the next decade. Economic restraints will cause most Chinese to purchase smaller cars and motorcycles. However, there is a keen interest in luxury vehicles among the upwardly mobile who prefer not only the comfort and safety that larger vehicles offer, but also the visual representation of status such cars project regarding their individual accomplishments.
To power these vehicles, manufacturers are looking for engines that satisfy consumer preferences, government mandates, and environmental concerns. Electric and hydrogen motors have great appeal, but widespread use is limited by engineering challenges and the production and distribution of those energies. On the immediate horizon, an engine is under development that may well provide the bridge the global market needs to advance to an eco-friendly, economically viable resolution. The Detonation Cycle Gas Turbine (DCGT) engine is a unique power plant that delivers improved fuel efficiency and dramatically reduces harmful emissions. Originally designed by the distinguished scientist and inventor, Robert Scragg, the engine is in its final stages of development and its developer, Turbine Truck Engines, Inc. (TTE) (OTCBB: TTEG), anticipates it will be mass-produced as early as 2011. Michael Rouse, President and CEO of TTE, recently observed, "Our cutting edge technology offers a solution that we think can relieve the current energy and ecological woes of the global marketplace."
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.