Turbine Truck Engines Secures Exclusive Agency Agreement
Paisley, Florida | July 18, 2011
Turbine Truck Engines, Inc. (“TTE”) (OTCBB: TTEG) is pleased to announce that our company has become the Exclusive Agent in North America for the Hydrogen Energy Production System (HEPS), an efficient methanol to hydrogen production technology of Hydrogen Union Energy Co., Ltd. Taiwan (HUE).
The HEPS is a low-pressure production system which enables users to produce hydrogen on site, thus eliminating storage safety issues normally associated with hydrogen power applications. The applications for the HEPS technology include, but are not limited to, home heating and cooking, outdoor heating, incinerators, boilers, industrial furnaces, and turbine applications.
The HEPS reduces fuel costs and is environment friendly. Early tests of the system showed a 47% fuel cost reduction when compared to diesel and a 57% reduction when compared to liquid propane. Since the hydrogen is produced on-site, transportation costs are virtually eliminated. This System, a green technology, also contributes greatly to preserving our environment due to the fact that the emissions from hydrogen are safer than those of diesel, propane or other fuels. It will help to reduce the carbon footprints that industry leaves on the earth.
TTE filed an 8K detailing the agreement on June 20th, 2011. TTE previously had a similar agreement with Falcon Power Co. Ltd. This agreement was terminated by mutual consent as HUE now has the exclusive rights to manufacture, market, and distribute the HEPS technology.
Michael Rouse, TTE President and CEO, stated, "We are very excited about our rapidly developing relationship with HUE, and I believe that their technology will play an important role in reshaping the way the world produces power."
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About Hydrogen Union Energy Co., Ltd.
The company is devoted in the development of a new energy source and energy saving alternatives. Our motto is: "To protect the earth and provide total solutions to companies that need to reduce carbon emission." We emphasize Hydrogen as the fuel source to replace heavy oil, and gas in boilers. The HEPS technology, initially intended for industrial usage, will eventually broaden to small businesses and homes. We look forward to implementing this technology as a possible replacement option for nuclear and pyro power plants. HUE is a division of Energy Technology Services Co., Ltd. Taiwan. (http://www.energyservice.com.tw/)
About Turbine Truck Engines, Inc.
Turbine Truck Engines, Inc. is a technology company focused on the development, manufacture, and testing of its new energy efficient and environmentally friendly engine which will be distributed in the United States and abroad. Intended for use in the transportation and power generation sectors, the engine can utilize any fuel that can be gasified (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 near-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.
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.