Cyclone Signs Phase Two Commercialization Agreement for Its Waste Heat Engine with The Ohio State University’s Center for A...
March 12 2014 - 8:30AM
Access Wire
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 www.cyclonepower.com.
Follow Cyclone on Facebook:
http://www.facebook.com/CyclonePowerTechnologies
About CAR
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
About TESS
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 durand.14@osu.edu 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.
Company Contact
Christopher Nelson
Tel: 954-943-8721
chris@cyclonepower.com
Ohio State Contact
Holly Henley, Communications & Marketing
Tel: 614-292-4217
henley.53@osu.edu
Source: Cyclone Power Technologies Inc.