Alpha Engines Grants Turbine Truck Engines, “Right of First Refusal”
DELAND, Florida, January 29, 2007 – Mr. Michael Rouse, CEO of Turbine Truck Engines, Inc. (‘TTE’) (OTCBB: TTEG) and Mr. Robert L. Scragg, President of Alpha Engines, Corp. (‘Alpha’) are pleased to announce the signing of a “Right of First Refusal Agreement”. Details of the Agreement specify that Alpha has granted TTE, the “Right of First Refusal” to acquire Alpha should Alpha receive an offer to be acquired by a third party. Further details stipulate that TTE must make a counter offer that is equal to, or greater than, the Third Party Offer. “The signing of this Agreement allows Turbine Truck Engines greater control over its long-term strategic planning and goals.” said Mr. Michael Rouse, “This Agreement will add a new dimension to our working relationship with Alpha and provide beneficial security to both companies.”
TTE has contracted Alpha to design, construct and demonstrate the TTE 540HP Heavy Duty Highway Truck Engine Prototype. The design phase has been completed; the construction is 80% complete and the preparation for testing and demonstration are in process.
“Turbine Truck Engines has surpassed all expectations regarding the development of our patented engine design. In the natural progression of our mutual interests, it makes perfect logic to grant TTE first status to acquire Alpha.” commented Mr. Robert Scragg, “It is also important to note that the acquisition of Alpha, by a Third Party, will not affect the terms and conditions of our Licensing Agreement with TTE.”
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.TurbineTruckEngines.com
About Alpha Engines Corporation
Alpha Engines Corporation is a technology company specializing in the theory, design, testing and registration of its “New Age” products. In 1997, Alpha Engines filed a patent on the Detonation Cycle Gas Turbine Engine resulting in the patent being granted in 1999. In 2002, Alpha granted Turbine Truck Engine, Inc. exclusive license rights to manufacture and market the DTGT 540 horsepower engine as a new, energy efficient and cost effective alternative heavy-duty truck engine.
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