Turbine Truck Engines' Intentions on the DCGT and Gas-to-Liquid Technologies
August 19 2014 - 8:00AM
InvestorsHub NewsWire
Paisley, Fl - August 19,
2014 - InvestorsHub NewsWire - Turbine Truck
Engines, Inc., Paisley, FL. (“TTE”) (OTCBB:TTEG)
(OTCQB:TTEG)
- Turbine Truck Engines, Inc. (the “Company” or “TTE”) is engaged
in negotiations, with the inventor and patent holder Robert Scragg,
to finalize a Purchase and Sale Agreement for the purchase and
assignment of all patents, intellectual property, notes, trade
secrets, copyrights and trademarks, including improvements and
advancements, for (1) the Detonation Cycle Gas Turbine Engine
(“DCGT”), including but not limited to the Rotary Mechanically
Reciprocated Sliding Metal Vane Air Pump and Boundary Layer Gas
Turbines integrated with a Pulse Gas Turbine Engine System; and,
(2) his Electromagnetic process and apparatus for making methanol
from methane, also referred to as the Gas-to-Liquid (“GTL”)
technology.
The Company’s new management, Board of Directors and Robert Scragg
agree on the value and importance of TTE having ownership, versus
licensing rights, of both the DCGT and the GTL technologies as TTE
pursues the best path forward to develop and commercialize the
technologies.
Enzo Cirillo, TTE’s Chairman and interim CEO states, “In developing
a patented or proprietary technology, ownership of that technology
dramatically expands access to both the funding and the development
partners required to prove the technologies’ viability and ultimate
commercialization. TTE is not interested in expending valuable
resources and shareholder equity developing either the DCGT or the
GTL technologies under a licensing agreement. If we expend the
resources to develop it, we must own it.”
About Turbine Truck Engines, Inc.
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 consumes energy. For
more information concerning Turbine Truck Engines, Inc., please
visit www.ttengines.com.
Safe Harbor
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.
Contacts
Turbine Truck Engines, Inc.
Michael Rouse
President
mrouse@ttengines.com
TEL: 386-943-8358
FAX: 386-943-6232