Cyclone and Phoenix Power Group Sign Collaborative Agreement To Support Production of Waste Heat Engine
March 18 2014 - 9:00AM
Access Wire
LANCASTER, OH / ACCESSWIRE / March 18, 2014. Cyclone
Power Technologies Inc. (OTCQB: CYPW),
developer of the all-fuel clean-tech Cyclone
Engine, announced that its waste-to-power subsidiary,
Cyclone-WHE LLC, has signed a System Use Agreement
with Phoenix Power Group LLC to support and
advance the production of the next two generations of Cyclone’s
Waste Heat Engines (the WHE-DR).
Under this agreement, Phoenix has agreed to provide a minimum of
two steam generating systems (PSG) designed to utilize waste motor
oil, to be used for long-term operational testing of the production
version WHE-DR engines. The first of these systems has already been
placed at Cyclone-WHE’s manufacturing facility in Lancaster, Ohio.
Phoenix has also agreed to supply pumps, radiators,
electrical generators and other critical equipment for the testing
of the WHE-DR and the complete waste motor oil to power system.
Phoenix is Cyclone’s exclusive, worldwide licensee to utilize
Cyclone engines to produce power from the clean combustion of waste
motor oil, as well as other waste fuels and engine lubricants.
Phoenix has an experienced distribution network already in place in
North American. In addition, Phoenix has previously agreed to
purchase at least 6,500 engines during the initial five-year period
after delivery of the first Generation 1 engines, in order to
maintain its full rights under its license.
Christopher Nelson, President of Cyclone and Managing Director
of Cyclone-WHE, stated: “Phoenix has come through again,
providing support and assistance during this critical stage of our
development. Their cooperation will surely help speed along our
production schedule, leading to engine sales not only to Phoenix,
but also dozens of other early adaptor customers requesting our
products.”
Thomas Thillen, President of Phoenix, stated: “We welcome the
collaboration with Cyclone-WHE and their Ohio-based team of
engineers and manufacturing partners. We are excited about
the progress and want to make sure we are doing everything we can
to be a productive member of this program. We’re confident in our
market potential and current worldwide product demand, and want to
get down to the business of selling waste oil power generators as
soon as possible.”
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.
Company Contact
Christopher Nelson
Tel: 954-943-8721
chris@cyclonepower.com
Phoenix Contact
Doug Petty, Vice President
Tel: 901-568-4007
doug@phoenixpowergroup.com
www.phoenixpowergroup.com