NEWS
Wednesday January 23, 11:11 am Eastern Time
Press Release
SOURCE: Energy & Engine Technology Corporation
Energy & Engine Technology Corporation Announces the Execution of a Letter Agreement
DALLAS, Jan. 23 /PRNewswire-FirstCall/ -- Energy & Engine Technology Corporation (OTC Bulletin Board: EENT - news) -- announces today the execution on a Letter Agreement for the development, production, and marketing of unique engine designs. EENT has thereby engaged the inventor and developer of the patented technology in a joint effort to bring innovative engine designs to the market. Initial efforts will be directed to final stage development and testing of utility engines in the one to forty horsepower range for near term marketing to the lawn equipment and recreational engine markets. Subsequent product development is planned for the full range of engines from two to one thousand horsepower. Also, there are various and vast international markets for this ``Disruptive Technology''.
The engine designs are innovative two or four cycle applications, which attain horsepower output per pound of engine weight at levels previously unattainable. Engine weight is a major factor in efficiency of vehicles and aircraft. Significantly lower principal parts count of the engine design reduces production cost, maintenance and overhaul costs as well.
The market size for engine applications is obviously vast. The Company will actively pursue engines for introduction to the market as early as possible while also pursuing parallel efforts for subsequent introduction into a wide range of applications from utility engines to power systems for aircraft, marine use, and commercial agricultural and transportation vehicles.
Willard G. McAndrew III
Chairman
Investor Contact: Mark Whittaker
Vice President - Investor Relations
(704) 987-0770
E-mail: mark@eetcorp.net
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Energy & Engine Technology Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Energy & Engine Technology Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.
SOURCE: Energy & Engine Technology Corporation |
