Daytona Beach, FL -- May 18, 2015 --
InvestorsHub NewsWire -- Turbine Truck Engines, Inc. (the
“Company” or “TTE”) (OTCQB:TTEGD)
(OTCBB:TTEGD) announces the Company is engaged in negotiations with
Sahoma Controlware, LLC (“Sahoma”) to commence development of
TTE’s Gas-to-Liquid Process (“GTL Process”) technology. The initial
target for commercialization of the GTL Process will be focused to
the Oil/Gas and Power/Utility energy sectors.
The current negotiations between TTE and Sahoma are intended to
contractually engage Sahoma Controlware to provide engineering
& design resources and expertise for the design, modeling, and
simulation of TTE’s GTL Process to include the Electromagnetic
Generator, the Chemical Reactor and the Process Gas Feed Systems.
Sahoma Controlware will be developing individual product simulation
models & analysis for flow, thermal, vibration,
structural/stress and electrical of each product. Sahoma
Controlware will also develop simulation models for the entire GTL
Process, identifying performance of all products working as one, in
order to determine maximum operational effectiveness and
efficiency.
Sahoma Controlware is a premier Engineering Design & Systems
Integration firm headquartered in Oklahoma City, Oklahoma.
Sahoma Controlware is staffed with Electrical, Instrumentation,
Mechanical, Process/Piping, Control System, SCADA/Telemetry, and
Process Safety Engineers, Designers, and Programmers with a
combined 120 years of industry experience. Many of Sahoma
Controlware’s resources either have a Master’s Degree or PhD in
their disciplines. Sahoma Controlware executes projects
within the Oil & Gas, Water/Wastewater, and Power Utility
Industries both domestically and internationally. Sahoma
Controlware is a UL-508A Control Panel Shop and also provides
Installation, Startup & Commissioning, as well as Field Service
Support. In addition to the above, Sahoma Controlware focuses
on Embedded Systems, Automation, Compressor Control Systems, Burner
Management Systems, SIS/SIL Systems, and Software Engineering
Design. For more information concerning Sahoma Controlware, LLC,
please visit www.sahomacontrolware.com.
The core trade secrets, certain intellectual property, notes and
drawings of TTE’s GTL Process technology, originally patented in
1980 by Robert Scragg, were purchased, free and clear, by TTE from
Robert Scragg in November 2014.
About Turbine Truck Engines
Turbine Truck Engines, Inc. is a clean-air technology company
dedicated to identifying, developing and commercializing important
scientific innovations designed to enhance both environmental
conservation and cost savings in how the world produces and
consumes energy. For more information concerning Turbine Truck
Engines, Inc., please visit www.ttengines.com.
Safe Harbor
This announcement may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements,
among others, relating to our future capital requirements,
including our expected liquidity position and timing of the receipt
of certain milestone payments, and the sufficiency of our current
assets to meet these requirements, our future results of
operations, and our plans, objectives, expectations and intentions.
Because these statements apply to future events, they are subject
to risks and uncertainties. When used in this announcement, the
words "anticipate", "believe", "estimate", "expect", "expectation",
"goal", "should", "would", "project", "plan", "predict", "intend",
"target" and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to us and are subject to a
number of risks, uncertainties and other factors that could cause
our actual results, performance, expected liquidity or achievements
to differ materially from those projected in, or implied by, these
forward-looking statements. Factors that may cause such a
difference include, without limitation, our need for substantial
additional financing and the availability and terms of any such
financing, ability to comply with ongoing governmental regulation,
our ability to commercialize, manufacture and achieve market
acceptance of any of our product candidates, for which we rely
heavily on collaboration with third parties, and our ability to
protect and enforce our intellectual property rights and to operate
without infringing upon the proprietary rights of third parties,
and general market trends and conditions. Although we believe that
the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, performance or
achievements and no assurance can be given that the actual results
will be consistent with these forward-looking statements.
We do not intend to update any of the forward-looking statements
after the date of this announcement to conform these statements to
actual results, to changes in management's expectations or
otherwise, except as may be required by law.
Contact:
Chris David
Turbine Truck Engines, Inc.
President-Director
(386) 275-1515
cdavid@ttengines.com
