Team On-Track for Gen 1 Engine Production and Sales in 2014
LANCASTER, OH, March 12, 2014. Cyclone Power Technologies Inc. (OTCQB: CYPW), developer of the all-fuel clean-tech Cyclone Engine, announced today that its Ohio subsidiary, Cyclone-WHE LLC, has signed a new agreement for testing/special services with The Ohio State University’s prestigious Center for Automotive Research (CAR). Under this agreement and accompanying work order, CAR will play a key role in the next stages of commercialization and manufacturing of Cyclone’s compact Waste Heat Engine (the WHE-DR).
The project will be broken into several phases over a twenty month period. Phase I involves the current modeling, analysis and testing to help place into limited production a 22 horsepower Generation 1 WHE-DR for sale to early adapter customers in 2014. In Phases II and III which are anticipated to commence in Q3 2014, CAR will support the development of a Generation 2 engine for mass production in 2015 with significantly reduced manufacturing costs, increased durability validation and maintenance predictability. All modeling and data developed from this project will belong to Cyclone-WHE.
Christopher Nelson, Managing Director of Cyclone-WHE, stated: “This important new contract establishes the budget, schedule, framework and incentives to assure success of the WHE commercialization project over the following year and a half. This includes processes for multi-party collaboration between CAR, our Ohio and Florida engineering teams, our manufacturing partner, and our customers and partners. Cyclone shareholders should be very pleased with the progress accomplished in transitioning this engine into manufacturing mode recently, as we are confident that it will result in the commencement of Gen 1 engine sales over the coming months.”
Through CAR, Cyclone-WHE has assembled a team of highly experienced engineers, technicians and researchers, including: Jim Durand, PhD, project lead; Fabio Chiara, PhD, co-lead and director of analysis; Jerry Fly, chief engineer and former General Motors senior engineer; and Eric Schacht, testing and systems lead. Additionally, Cyclone-WHE has reassigned its project engineer for the WHE, Travis Love, from Florida to Columbus, Ohio to work alongside the CAR team and several other engineers that the Cyclone is currently in the process of retaining full-time. The Company’s innovation team in Florida will continue to provide critical design and technical support to the project.
Jim Durand, PhD, director of Testing, Engineering and Software Development Services, the group at CAR spearheading the project, stated: “We’re very pleased with the confidence that Cyclone-WHE has placed in our team to assist them through the challenging process of engineering their technology for manufacturability. We’re committed to this project, and feel confident that we can help them achieve a successful result.”
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 http://www.cyclonepower.com/.
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The Center for Automotive Research (CAR) is the pre-eminent research center in sustainable and safe mobility in the United States and an interdisciplinary research center in The Ohio State University’s College of Engineering. CAR research focuses on: energy, safety and the environment. CAR offers state-of-the-art facilities for students, faculty, research staff and industry partners. With a concentration on preparing the next generation of automotive leaders, CAR is recognized for: interdisciplinary emphasis on systems engineering, advanced and unique experimental facilities, collaboration on advanced product development projects with industry and a balance of government and privately sponsored research. More: car.osu.edu
Testing, Engineering and Software Development Services (TESS) is a group at The Ohio State University College of Engineering's Center for Automotive Research providing high quality services to industrial clients based on the center's existing expertise and facilities. Primary areas of services include: engine, chassis, battery, and other testing; engineering services and high end engineering and simulation based analyses; and software development services. TESS offers services at competitive rates. For information and quotes contact Jim Durand at firstname.lastname@example.org or 614-688-1137. Visit us online: http://car.osu.edu/facilities/tess.
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.
Ohio State Contact
Holly Henley, Communications & Marketing
Source: Cyclone Power Technologies Inc.