BELLEVUE, Wash., June 11, 2015 (GLOBE NEWSWIRE) -- Turbine Truck Engines, Inc. (the “Company” or “TTE”) (OTCQB:TTEG) announces the Company has executed a Consulting Services Agreement, dated June 3, 2015, with Justin Dean to provide TTE with technical and analytical leadership as the Project and Program Manager for TTE’s Gas-to-Liquid (“GTL”) Process Technology development.
The agreement defines specific areas of responsibility to include Conceptual Design Analysis, Product Development Analysis, Product Commercialization Analysis, Business Plan Analysis, Product Application Analysis, and Industry Analysis for the Phase 1 development of TTE’s GTL Process Technology. The initial target, by TTE, for the commercialization of the GTL Process will be focused to the Oil/Gas and Power/Utility energy sectors.
Enzo Cirillo, TTE Interim CEO and Board Chairman, states, “The TTE Board of Directors is determined to build long-term shareholder value through both product development and quality asset acquisition. Given Justin’s vast experience garnered over 20 years of Project and Program Management on 6 continents in the oil/gas, power/utilities and space travel/exploration industries designing and implementing large process application solutions in the areas of Electrical/Electronics & Power Systems Engineering, Process Control and Automation, developing potential paths forward for the commercialization of TTE’s GTL Process technology is in very strong hands with both Justin Dean and his company, Sahoma Controlware.”
Working at NASA, Mr. Dean was the lead Electrical & Control Systems Engineer for several International Space Station missions as well as developing Facility Process Systems which remain integral components in the training of today’s astronauts. Additionally, many solutions designed and implemented by Justin Dean are installed and in-use on the International Space Station, Rover, and Space Shuttle. In the oil/gas and power/utility industries, Mr. Dean has worked extensively in developing electrical motor, variable speed drives, pumping solutions/systems, gas processing, compression, and water management/disposal systems.
In 2013, Justin Dean founded Sahoma Controlware, an Engineering Design & Systems Integration Company in Oklahoma City, that provides its Oil/Gas, Water/Wastewater, and Power/Utility industries clients with a broad scope of expertise proven to optimize operational efficiencies and improve production. For more information concerning both Justin Dean and Sahoma Controlware, please visit www.sahomacontrolware.com .
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.
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The forward-looking statements regarding future events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements included in this presentation speak only as of the date hereof, and, except as required by law, we undertake no obligation to update publicly or privately any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations.
Chris David Turbine Truck Engines President-Director (206) 617-9797 cdavid@ttengines.com
