Global Automotive Market Playing to TTE's Strength
KPMG Executive Survey Highlights Key Differentiators for Industry Through 2014
Deland, Florida | April 23, 2010
Turbine Truck Engines, Inc. (TTE) (OTCBB: TTEG) KPMG International Cooperative (KPMG) recently released its report, "KPMG's Global Auto Executive Survey 2010: Industry Concerns and Expectations to 2014." In the Executive Summary, the report said, "Companies... cite exactly the same three vehicle types (of automobiles) as top market share gainers (hybrids, other alternative-fuel vehicles and low cost introductory cars)." In this environment, TTE's highly innovative and potentially industry-altering Detonation Cycle Gas Turbine (DCGT) engine may enjoy a significant competitive advantage over traditional engine types. The DCGT is a true flex-fuel engine, capable of running on any fuel that can be gasified. As demand grows for alternative fuel vehicles, the DCGT can migrate from one fuel to another seamlessly, dramatically reducing the cost of ownership for individuals, corporations, and government entities.
TTE has recently signed a Letter of Intent to purchase GuangDong Kingtec Electrical Co., Ltd. (Kingtec), a Chinese corporation which is a leader in the engineering, production, and sales of heavy-duty starter motors and alternators for passenger vehicles as well as trucks, construction, military, and marine transportation devices. The company enjoys a sterling reputation in China, and it will give TTE engineering expertise, manufacturing facilities, and established channels of distribution which will dramatically reduce the DCGT's time-to-market in China, which is expected to be the fastest growing automotive and trucking market in the world for the next 20 years.
Michael Rouse, TTE's Founder and CEO, commented, "Few things are as important as being in the right place at the right time with the right product, and we believe that is exactly the position we are in. China is an exploding market for automobiles, and we believe the DCGT will give the Chinese the value they are demanding in engines."
About GuangDong Kingtec Electrical Co., Ltd.
To learn more about GuangDong Kingtec Electrical Co., Ltd., visit http://www.kingtecgroup.com/wuhua/enwuhua.asp
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 little or no 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.