Apr. 11, 2012
POMPANO BEACH, Fla.--(BUSINESS WIRE)-- Cyclone Power Technologies (OTCQB: CYPW) (“Cyclone” or the “Company”), developer of the all-fuel, clean-tech Cyclone Engine, today announced that its licensee in China, Great Wall Alternative Power Systems Ltd.,has completed the build of the first prototype engines under its License Agreement with the Company, and has begun in-house testing of these units.
The engines built by Great Wall are based on Cyclone’s WHE-25 design, and are meant for use with biomass-to-power generator systems. Applications will include distributed combined heat and power (CHP) systems, and power sources for bio-char producing environmental remediation equipment. Initial compressed air testing of Great Wall’s engines has been successful, and steam testing will commence shortly. These units will ultimately be manufactured and sold only in China.
Great Wall’s Managing Director, Robert Devine, commented: “We see a multi-billion dollar market for distributed power in China’s rural areas. With the Cyclone Engine, we can deliver viable, low cost biomass-based power solutions integrated with a bio-char process that can help remediate water and soil pollution. Operating within China can sometimes be challenging, and that has admittedly pushed back our production schedule. We are pleased to be back on track, and fully committed to seeing this project through to completion.”
Christopher Nelson, Cyclone’s President, commented: “We are glad to see real progress with our partners in China in getting these engines closer to market, and look forward to their next phases of development. China presents a major market opportunity for our multi-fuel capable, eco-friendly engine technology, and we are excited to be capitalizing on it.”
Led by a group of veteran China operators and investors, Great Wall is focused on developing Cyclone’s technologies for the Chinese market. Great Wall’s Chairman Zhan Shan, a PRC national, founded several new energy ventures including China’s first private municipal gas company, and was China’s first technology developer of large-format lithium-ion batteries. Managing Director Robert Devine has over a decade of experience investing in the China’s consumer goods, technology, media and real estate sectors.
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 CEO 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 minimizing the release of 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 the Society of Automotive Engineers’ AEI Tech Award in 2006 and 2008. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
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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.