Turbine Truck Engines Secures Worldwide Agency Agreement
Paisley, Florida | March 16, 2012
Turbine Truck Engines, Inc. (“TTE”) (OTCBB: TTEG) is pleased to announce it has secured a contractual agreement (dated March 15, 2012) between Turbine Truck Engines, Inc (a Nevada corporation) and Energy Technology Services Co., Ltd. ("ETS") (a Taiwan corporation) to grant "TTE" status as both Worldwide Agent and exclusive North American Agent with capacity to market and distribute all "ETS" energy related products AND energy saving devices including the Hydrogen Energy Production System (HEPS), an efficient methanol to hydrogen production technology of Hydrogen Union Energy Co., Ltd. ("HUE"), a Taiwan subsidiary of "ETS". Additionally, with the implementation of this Agency Agreement, all parties mutually consent to terminate the previous Cooperation Agreement between "TTE" and "HUE" (dated June 16, 2011) for the purpose of the joint development of the hydrogen generator.
Michael Rouse, TTE President and CEO, stated, "The Hydrogen Energy Production System (HEPS) is ready for commercialization today. Currently, TTE is in negotiations with several business entities in Asia and North America with strong interest in securing Hydrogen Generator (HEPS) systems for their operations. This worldwide agency agreement expands the reach of 'TTE' into markets beyond North America in which TTE has developed a number of relationships over the years."
Utilizing a gas reformation process employing a proprietary chemical catalyst and a unique low temperature pyrolytic reaction, the Hydrogen Energy Production System (HEPS) converts common methanol into clean-burning hydrogen gas for immediate on-site use. Hydrogen (H2) is an ideal fuel for combustion -- it burns easily and efficiently at very high temperatures and emits pure water vapor (H2O) as its only by-product except for food grade carbon dioxide which is eligible to be captured and sold as part of a Carbon Credit Asset Program.
The Hydrogen Energy Production System (HEPS) technology is applicable to a wide array of residential and commercial applications as well as industrial boilers and steam generators. The efficiency of the hydrogen generator could save the end user 30-60% on their energy costs as compared to the current sources of energy such as electricity, heavy oils or natural gas. The hydrogen generator also eliminates the need for high pressure storage tanks as it generates the hydrogen on demand.
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About Turbine Truck Engines, Inc.
Turbine Truck Engines, Inc. is a technology company focused on the development, manufacture, and distribution of its new energy efficient and environmentally-friendly products. For more information concerning Turbine Truck Engines, Inc., please visit www.ttengines.com.
About Energy Technology Services 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. For more information concerning Energy Technology Services Co., Ltd., visit www.energyservice.com.tw.
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.