POMPANO BEACH, FL, August 14, 2013. Cyclone Power Technologies Inc. (OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that Cyclone-WHE LLC, its waste-to-power operating subsidiary, has received letters of interest to purchase the first 300 beta prototype Waste Heat Engines (WHE-25) from several of its current customers and technology partners.
The interest for Cyclone’s 10hp, compact WHE-25 model waste heat engine comes from Phoenix Power Group for their waste motor oil furnace, B&W Constructors for its animal waste methane flare systems, and Clean Carbon for solid biomass and bio-char projects in Australia and the greater Pacific region. The WHE-25, through external heat sources such as these systems, is capable of converting raw heat to mechanical power to run electric generators, pumps and other machinery.
Christopher Nelson, President of Cyclone and Managing Director of Cyclone-WHE, commented: “This strong initial interest from our current customers to purchase the first 300 manufactured WHE-25 engines over the 12 month period following their public launch, helps us solidify our production plans and requirements over the next six months. If our development continues to progress at the current pace and we can demonstrate attractive price points moving forward, we expect these letters of interest to transfer into solid purchase orders by the fourth quarter of this year. At that time, we will also begin accepting advance orders from other customers with numerous waste-to-power applications.”
Thomas Thillen, President of Phoenix Power Group, stated: “We have seen some real progress on the development of the WHE with the assistance of Ohio State University and Precision CNC, to the level where we believe we will soon be able to commence our pilot programs. We continue to have great demand from our customers to bring a product to market that will cost effectively convert waste oil to power at a ‘point-of-need’ format. We’re excited to keep this project moving forward.”
Greg Butler, Executive Director of Clean Carbon affirmed that interest in the WHE-25 was strong: “Our potential customers want a reliable waste-heat to power solution for their biomass pyrolysis technologies and we look forward to fulfilling the market demand in conjunction with Cyclone-WHE”.
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.
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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 Inc.