Cyclone Adds Three Independent Board of Director Members With Vast Management, Manufacturing and Energy Experience
June 26 2014 - 9:05AM
Access Wire
POMPANO BEACH, FL /
ACCESSWIRE / June 26, 2014 / Cyclone Power Technologies Inc.
(OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone
Engine, announced today that it has appointed three new independent
members to its Board of Directors, each with considerable
experience in energy projects, manufacturing processes, and
management for public and private companies. The three new Board
members are:
Lewis Jaffe has led the growth and successful
turnarounds of more than 20 under-performing public and private
companies over the last 30+ years as their chief executive or
outside advisor, creating over $500 million in shareholder value
during this time. Mr. Jaffe is the Co-Founder of MoviMe Network,
the world’s first ultra-fast download service of Hollywood content;
and Chief Executive of Oxford Media Inc., a video on demand and
high speed Internet access company delivering content and services
to the hospitality industry where he grew the company to be the
second largest VOD provider in the segments they served. At
PictureTel Corporation, a $500 million NASDAQ-listed
videoconferencing company, he turned around the company and
increased its market value over five-fold in two years.
Previously, Mr. Jaffe was the Managing Director of Arthur
Andersen’s Corporate Finance practice in Boston where he managed
over 20 client engagements in multiple industries designing
turnaround and growth plans as well as guiding M&A activity.
Mr. Jaffe holds his Masters Certification of Public Company Board
of Directors, serves as the Chairman of the Board for FitLife
Products, and is the lead independent director for York
Telecom. He also served for eight years as the lead
independent director on the board of Benihana Inc.
(BNHN:NASDAQ). Mr. Jaffe has been a guest on a number of
business shows for CNBC, MSNBC and ABC, and has been quoted in a
variety of business and trade publications including Forbes
Magazine, The Wall Street Journal, the New York Times, Business
Week and the Boston Globe. Mr. Jaffe is a graduate of LaSalle
University and Stanford University’s Graduate School of
Business
James E. Hasson is an experienced executive and
manager with considerable experience in the manufacturing industry.
Since 1994 he has been President and owner of Hypex, Inc., a
company that designs and builds machinery for the pharmaceutical,
medical device, aerospace, food and other specialized
industries. In that period of time, he has increased sales
over 300% and presided over three acquisitions and three
start-ups. Previously, Mr. Hasson was President and CEO of
Citisteel USA, Inc., where he managed over 300 people and led the
company to over $100 million in annual revenue; President and CEO
of Magnetic Metals Corp., at $50 million manufacturing business;
and Vice President and General Manager of the manufacturing
division of LaSalle Steel Company, with over $200 million in sales.
Mr. Hasson holds a BS in Mechanical Engineering from Drexel
University, an AS in Mechanical Engineering from Pennsylvania State
University, and attended the Management Program at University of
Pennsylvania’s Wharton School.
Dennis A. Dudzik, PE, is the
founder and President of the International Association for the
Advancement of Steam Power (IAASP), a leading global non-profit
organization dedicated to the advancement and commercialization of
modern steam power. In his professional capacity for URS
Corporation, Mr. Dudzik is the Program and Contract Manager for
Integrated Resource Plan services to Los Angeles Department of
Water and Power (LADWP), and Program and Contract Manager for major
power project environmental and engineering services contracts for
the Sacramento Municipal Utility District (SMUD). He has held key
management roles in over a dozen major electric generation,
transmission, and substation projects over the last 12 years.
Mr. Dudzik served as the Contract Manager for the
construction contracts for the 30 MW Ormesa Geothermal Power
Project, the 125 MW NCPA Combustion Turbine Project, and provided
permitting services for the 47 MW COLMAC Power Project, as well as
numerous other California power projects. Mr. Dudzik served
on the Board of Directors for the Aerospace Museum of California
for the museum’s initial eight years, and continues on the Board in
an Emeritus capacity.
Harry Schoell, Director, CTO and co-founder of Cyclone, stated:
"We are honored to have Lew, James and Dennis join Cyclone’s Board
of Directors, as their vast experience and impressive
accomplishments speak for themselves. Our shareholders should know
that the appointment of these distinguished gentlemen to our Board
is a strong indication of the optimism we have for the future of
Cyclone. All of our officers and directors have been hard at work
forging ahead with plans for long term funding, new business
development, and strategies to strengthen our company and add value
for our shareholders. We look forward to big things to
come."
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http://www.facebook.com/CyclonePowerTechnologies
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.
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
Frankie Fruge
Tel: 954-943-8721
info@cyclonepower.com
SOURCE: Cyclone Power Technologies