SOURCE: Energy & Engine Technology Corporation

February 17, 2006 14:16 ET

Governor Ted Kulongoski Joins Local and Federal Leaders on I-5 Emissions Issues to Announce Oregon's Lead in Supporting Clean Air Technology, Such as EENT's AXP 1000

PLANO, TX -- (MARKET WIRE) -- February 17, 2006 -- Energy & Engine Technology Corporation (OTC BB: EENT) announces that yesterday, Governor Kulongoski conducted a press conference on supporting clean air technology in Oregon, at which Will McAndrew, EENT's CEO, was a speaker. The Governor's Press Release is reprinted below in its entirety, with permission.

Theodore R. Kulongoski
      Governor

NEWS Release
FOR IMMEDIATE RELEASE
February 16, 2006

Media Contacts:
Lonn Hoklin (503.378.6169) or Anna Richter Taylor, (503.378.6496)
Governor advances program to reduce diesel pollution

'Clean Diesel' event uses anti-idling technology to save fuel

Aurora -- One of Governor Ted Kulongoski's highest priorities, clean air, received a boost in Aurora Thursday, as the Energy and Engine Technology Corporation introduced its "auxiliary power unit" (APU), which enables diesel-powered semi-trucks to power their onboard systems without idling, reaping huge savings for trucking operators and substantially reducing air pollution.

"It's a great day for everyone who cares about the environment and the creation of new jobs," Governor Kulongoski told a crowd of industry representatives, government officials, and truckers at the Aurora ceremony. "It's an equally great day for those who strive to make industry cleaner, more efficient and more profitable. The future looks bright for making air cleaner in Oregon. And the future looks bright for the companies and industries that bring clean-air technology to our state."

In accordance with the Governor's policy of targeting investments to reduce diesel pollution while promoting clean economic growth and the creation of new family-wage jobs, the Oregon Department of Energy provided a "state energy loan" of $860,000 to the Lane Regional Air Pollution Authority to pay for installation of APUs in more than 100 trucks. The Authority also took advantage of a tax credit of $360,000 to offset project costs. The Oregon Department of Energy will provide an additional state energy loan of $2.5 million to install another 250 APUs.

"We are thrilled that Governor Kulongoski has taken such a strong stance on clean air and the reduction of emissions on the I-5 corridor," said Will McAndrew, the CEO of the Energy and Engine Technology Corporation. "He is exemplifying Oregon's reputation as a leader on green issues, and we are happy to play a part by marketing a product that has the ability to markedly reduce emissions from the thousands of long-haul trucks traveling the corridor on a regular basis."

The APU provides a secondary source of electricity to the cabs of big trucks. Without an APU, the only way to run systems in the cabin -- such as climate control, lighting and sound systems -- is idling. Unfortunately, idling diesels emit huge amounts of toxic pollutants and impose high fuel costs on trucking operators.

Within the coming month, the Energy and Engine Technology Corporation will open an installation center in Portland, the Governor explained. The company will conclude three agreements with dealers this week, with each dealer committing to buy between three and 500 units a year. The installation and sales will generate 30 new jobs in the first year alone, and that number will grow. "The potential market in Oregon is vast -- and we're committed to serving that market," the Governor added. "We're committed to making a clean air technology a major industrial sector in Oregon."

The Governor and the state of Oregon have led the way to reducing diesel pollution since 2004, when Oregon joined the West Coast Collaborative, an ambitious partnership among leaders from federal, state, and local government, the private sector, and environmental groups in California, Oregon, Washington, Idaho, Arizona, Alaska, Hawaii, Canada and Mexico. The goal of the collaborative is to reduce pollution from diesels on the West Coast.

The Governor explained that initial investment will save an estimated 216,000 gallons of diesel fuel a year, and $500,000 a year at current fuel prices. Ultimately, the follow-up investments will save nearly 600,000 gallons of diesel annually, and nearly $1.5 million at current prices.

The Governor said this day was an especially great for him personally.

"Among the things I care most passionately about are jobs, clean air and reduction of greenhouse gases," the Governor said. "Today, we're celebrating a major step in the cause to make Oregon's air cleaner. We're reducing emissions of greenhouse gases. And we're bolstering clean new industries like the Energy and Engine Technology Corporation, that create clean, family-wage jobs. Just as important, these new industries help strengthen other businesses by supplying technology they can use to save serious money."

About EENT

EENT (http://www.eent.net), headquartered in Plano, Texas, develops and markets power generation products for the long haul trucking industry and heating and air conditioning systems for the long haul trucking and marine industries.

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 EENT) contains statements that are "forward looking," as defined in Section 21E of the Securities Exchange Act, 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 EENT. 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. These and other factors, which could cause actual results to differ materially, are discussed in more detail in EENT's filings with the Securities and Exchange Commission. Projected revenues are based upon projected unit sales at historical average per unit sales prices. Average per unit sales prices may be affected by changes in the mix of purchasers between individual owner operators and fleets/dealers. Preliminary numbers may change upon verification by internal accounting procedures.

Contact Information

  • Contact:
    Energy & Engine Technology Corporation, Plano
    Will McAndrew
    972-732-6360
    www.eent.net