Cyclone Power Technologies Receives Strategic Investment to Expand Waste-to-Power Operations Into Europe
March 13 2013 - 9:15AM
Marketwired
Cyclone Power Technologies Inc. (OTCQB: CYPW), developer of the
all-fuel,
clean-tech
Cyclone Engine, announced that it has signed a letter of
understanding with Next S.p.A., an industrial holding company based
in Florence, Italy, to seek sales and distribution opportunities in
Europe for the company's
waste-to-power
engine applications. In connection with this preliminary agreement,
Next has provided a $100,000 equity investment in Cyclone and also
received a 90-day right of refusal to proceed with a more formal
license agreement, subject to market study and further diligence.
Christopher Nelson, Cyclone's President, stated, "We are pleased
to be working with Next to determine optimal paths for the
placement of Cyclone engines in Europe, and thank them for their
investment in the company. We believe that the European
waste-to-power market, especially biomass powered
micro-cogeneration applications, presents an excellent opportunity
for Cyclone's technology."
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.
Follow Cyclone on Facebook:
http://www.facebook.com/CyclonePowerTechnologies
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.
Cyclone Investor Relations American Capital Ventures
Howard Gostfrand President Tel: 305-918-7000 www.amcapventures.com
Company Contact Christopher Nelson Tel: 954-943-8721
chris@cyclonepower.com