POMPANO BEACH, FL / ACCESSWIRE / June 26, 2014 / Cyclone Power Technologies Inc. (OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has appointed three new independent members to its Board of Directors, each with considerable experience in energy projects, manufacturing processes, and management for public and private companies. The three new Board members are:
Lewis Jaffe has led the growth and successful turnarounds of more than 20 under-performing public and private companies over the last 30+ years as their chief executive or outside advisor, creating over $500 million in shareholder value during this time. Mr. Jaffe is the Co-Founder of MoviMe Network, the world’s first ultra-fast download service of Hollywood content; and Chief Executive of Oxford Media Inc., a video on demand and high speed Internet access company delivering content and services to the hospitality industry where he grew the company to be the second largest VOD provider in the segments they served. At PictureTel Corporation, a $500 million NASDAQ-listed videoconferencing company, he turned around the company and increased its market value over five-fold in two years. Previously, Mr. Jaffe was the Managing Director of Arthur Andersen’s Corporate Finance practice in Boston where he managed over 20 client engagements in multiple industries designing turnaround and growth plans as well as guiding M&A activity. Mr. Jaffe holds his Masters Certification of Public Company Board of Directors, serves as the Chairman of the Board for FitLife Products, and is the lead independent director for York Telecom. He also served for eight years as the lead independent director on the board of Benihana Inc. (BNHN:NASDAQ). Mr. Jaffe has been a guest on a number of business shows for CNBC, MSNBC and ABC, and has been quoted in a variety of business and trade publications including Forbes Magazine, The Wall Street Journal, the New York Times, Business Week and the Boston Globe. Mr. Jaffe is a graduate of LaSalle University and Stanford University’s Graduate School of Business
James E. Hasson is an experienced executive and manager with considerable experience in the manufacturing industry. Since 1994 he has been President and owner of Hypex, Inc., a company that designs and builds machinery for the pharmaceutical, medical device, aerospace, food and other specialized industries. In that period of time, he has increased sales over 300% and presided over three acquisitions and three start-ups. Previously, Mr. Hasson was President and CEO of Citisteel USA, Inc., where he managed over 300 people and led the company to over $100 million in annual revenue; President and CEO of Magnetic Metals Corp., at $50 million manufacturing business; and Vice President and General Manager of the manufacturing division of LaSalle Steel Company, with over $200 million in sales. Mr. Hasson holds a BS in Mechanical Engineering from Drexel University, an AS in Mechanical Engineering from Pennsylvania State University, and attended the Management Program at University of Pennsylvania’s Wharton School.
Dennis A. Dudzik, PE, is the founder and President of the International Association for the Advancement of Steam Power (IAASP), a leading global non-profit organization dedicated to the advancement and commercialization of modern steam power. In his professional capacity for URS Corporation, Mr. Dudzik is the Program and Contract Manager for Integrated Resource Plan services to Los Angeles Department of Water and Power (LADWP), and Program and Contract Manager for major power project environmental and engineering services contracts for the Sacramento Municipal Utility District (SMUD). He has held key management roles in over a dozen major electric generation, transmission, and substation projects over the last 12 years. Mr. Dudzik served as the Contract Manager for the construction contracts for the 30 MW Ormesa Geothermal Power Project, the 125 MW NCPA Combustion Turbine Project, and provided permitting services for the 47 MW COLMAC Power Project, as well as numerous other California power projects. Mr. Dudzik served on the Board of Directors for the Aerospace Museum of California for the museum’s initial eight years, and continues on the Board in an Emeritus capacity.
Harry Schoell, Director, CTO and co-founder of Cyclone, stated: "We are honored to have Lew, James and Dennis join Cyclone’s Board of Directors, as their vast experience and impressive accomplishments speak for themselves. Our shareholders should know that the appointment of these distinguished gentlemen to our Board is a strong indication of the optimism we have for the future of Cyclone. All of our officers and directors have been hard at work forging ahead with plans for long term funding, new business development, and strategies to strengthen our company and add value for our shareholders. We look forward to big things to come."
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About Cyclone Power Technologies
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine – an all-fuel, clean-tech engine with the power and versatility to run everything from waste energy electric generators and solar thermal systems to cars, trucks and locomotives. Invented by company founder and Chairman Harry Schoell, the patented Cyclone Engine is an eco-friendly external combustion engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel - including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. The Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with two Society of Automotive Engineers’ AEI Tech Awards. Additionally, Cyclone was named Environmental Business of the Year by the Broward County (Florida) Environmental Protection Department. For more information, visit www.cyclonepower.com.
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
SOURCE: Cyclone Power Technologies
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