Turbine Truck Engines Secures Strategic Alliance Agreement with Leading Chinese Corporation
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DELAND, Fla.january 27, 2009: Turbine Truck Engines, Inc. (“TTE”) (OTCBB:TTEG), a leader in detonation cycle gas turbine clean engine technology, is proud to announce that the company has signed a Strategic Alliance Agreement with Aerospace Machinery & Electric Equipment Company, Ltd., a Chinese corporation (“AMEC”).
Details of the agreement call for the two companies to collaborate on the development and commercialization of the Detonation Cycle Gas Turbine Engine (“DCGT”) specifically for application opportunities in the Peoples Republic of China. Further details outline that AMEC and TTE will collaborate on modifying and applying the DCGT engine technology to create two new engine designs; a 150 hp engine for automobiles and a 400 hp engine for buses. Both parties also anticipate that, pursuant to satisfactory participation and performance by AMEC, they will enter into a Joint Venture agreement whereby TTE will grant AMEC the exclusive rights to manufacture, market and sell the DCGT engines in China. Currently TTE is testing a fifth-generation prototype clean-air engine specifically designed for trucking industry applications, using alternative fuels.
“This milestone agreement outlines the groundwork that will enhance and advance our technology from the prototype stage to real-life applications. We are overjoyed with the opportunity to collaborate with Aerospace Machinery,” stated Mr. Michael Rouse, CEO of Turbine Truck Engines. “Aerospace is a perfect fit to develop our technology in China. The company employs a talented and innovative engineering staff, extremely experienced in the design and manufacturing of industry-specific machinery, which will assist and guide our company in the modification of our engine for practical Chinese applications,” he added.