Turbine Truck Engines and Highpoint Transport Sign Definitive Agreement
DELAND, Fla.--Turbine Truck Engines, Inc. (‘TTEI’) announced today that the company has signed a Merger and Exchange Agreement with Highpoint Transport Inc. (“HPTI”), a Nevada Corporation. Details of the Agreement specify that HPTI will merge with TTEI and result in the creation of a new Nevada Corporation, Turbine Truck Engines NV, Inc., as a wholly owned subsidiary of HPTI. Further details specify a reverse split of TTEI shares and a $1 million commitment by HPTI to fund the Turbine Truck subsidiary over the next twelve months. A complete copy of the Merger and Exchange Agreement is exhibited as part of the TTEI filed SEC Form 8K dated February 11, 2008.
“This merger will provide the much needed impetus in introducing our revolutionary engine to the trucking and transportation industry,” said Mr. Michael Rouse, CEO of Turbine Truck Engines. “We have long awaited a business opportunity with an established transportation company. Highpoint Transport is a perfect fit right down to the ground. The melding of our two companies will alleviate our capital shortfall while providing us with an actual industry specific test bed.”
Mr. Paul Henley, CEO of Highpoint Transport Inc. commented, “We are very excited for the opportunity to team up with Michael Rouse and his team at Turbine Truck Engines. The technology they are developing is revolutionary, and very much needed to enable trucking companies to become more efficient in transporting freight, and to help reduce emissions. As a rapidly growing business in the trucking/freight systems industry, we see tremendous opportunities for coordination between our businesses to attain our goals.”
About Highpoint Transport Inc.
Highpoint Transport’s core business is the acquisition and integration of complementary transportation companies and transport related technologies; the Company’s mission is to build a national freight carrier featuring customized logistics services while focusing on providing a safe, reliable and cost effective alternative to the status quo. In October 2007, Highpoint acquired Canon Freight Systems, Inc. and have also signed several Letters of Intent to acquire other transportation related companies. For more information concerning Highpoint Transport, Inc. kindly visit our website at www.highpointtransport.com
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 Environmental Efficient Truck Engine intended for mass market in the United States and abroad. This new engine design 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. The unique, lightweight turbine design has few moving parts, significantly reducing maintenance costs. The innovative cyclic detonation process produces a complete combustion of fuel-oxidation mixtures, resulting in greater fuel economy and fewer harmful exhaust emissions. For more information concerning Turbine Truck, Engines Inc., kindly visit our website at www.TTEngines.com