Energy & Engine Technology Corporation Announces Acquisition of Exclusive Rights to AXP 1000 Auxiliary Power Generator; CEO Webcast Posted
PLANO, Texas, Jun 27, 2002 /PRNewswire-FirstCall via COMTEX/ -- Energy & Engine Technology Corporation (OTC Bulletin Board: EENT) announced today that the Company has acquired exclusive worldwide rights for the development and marketing of the AXP 1000 Auxiliary Power Generator. The AXP 1000 is a device designed for new installation and retrofit to semi truck tractors which provides power generation without running the truck engine and maintains the engine heat necessary for quick and easy restarting of the engine (typically, long haul truck engines are difficult to restart when cold). The Company is also in the process of effecting transfer of the patent application for the device from its inventor.
Recent federal and state laws and regulations collectively limit both the number of hours per day that long haul truckers may drive and the number of non-driving hours they may allow their trucks to idle. Trucks burn a considerable amount of diesel fuel when idling and release harmful emissions into the atmosphere. The AXP 1000 reduces fuel consumption and release of noxious emissions, as well as lowering the truck maintenance burden. Reduced engine running time lengthens the intervals between scheduled maintenance on the truck's engine.
Fontaine Modification Company ( www.fontainemod.com ), a Virginia-based industry leader in truck modifications for more than 50 years, has donated use of a Volvo VN 770 truck (with a retail price of approximately $106,000 with standard options) for testing of the AXP 1000 prototype, along with donating the labor to assemble the prototype and mount it on the truck in a joint effort with the Company. Lombardini USA, Inc. ( www.lombardiniusa.com ), the American arm of the Italian company, has provided a diesel engine for testing purposes and is in discussions with the Company regarding becoming the supplier of diesel engines for the AXP 1000 once testing is successfully completed. The Company intends to initiate the testing phase during the Summer 2002. Technical statistics on significant fuel savings and emissions benefits will be released as the testing phase progresses.
The Company also announces that its first CEO Webcast with Tribe Communications, Inc. was completed on Thursday, June 20, 2002, and is currently available to the public. The Company's website can be found at www.eent.net , and Tribe's website can be found at www.epowow.com . The Company is also now listed through Standard & Poor's Market Access at www.advisorinsight.com/pub/maccess/index.html (click on "OTC Bulletin Board" and then the listing for the Company).
Energy & Engine Technology Corporation www.eent.net 972-732-6360
SOURCE Energy & Engine Technology Corporation
CONTACT: Will McAndrew, Pres. and CEO, +1-972-732-6360, or will@eent.net , or Jolie Kahn, Gen. Counsel, +1-561-872-4027, or jolie@eent.net |
