|By Marketwired .||
|August 21, 2014 09:16 AM EDT||
POMPANO BEACH, FL -- (Marketwired) -- 08/21/14 -- Cyclone Power Technologies (PINKSHEETS: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has signed a letter of intent with Steam Logic Inc. based in Mississauga, Canada to integrate Cyclones heat exchanger, high pressure and low pressure pumps that were originally developed for the Cyclone engines into their power turbine systems. This licensee will give Cyclone's manufacturing partner, Hypex Inc based out of Pennsylvania their first parts customer and purchase orders.
James Hasson, President of Hypex Inc. commented, "I am very excited that we already have our first purchase orders and plans to go into production this calendar year."
Cyclone has also received a purchase order from Ark Technologies based in Foley, Alabama, for Cyclone's heat exchanger and pumps to fit in their refinery system.
Founded in 2010, Steam Logic Inc. builds and sells residential and commercial combine heat and power (CHP) systems that cost about the same as a regular furnace. These systems are sold under the brand "Titan CHP" and will enable consumers to be completely energy independent while saving thousands of dollars on their annual heating, hot-water and electricity costs.
Brent MacKinnon, President of Steam Logic Inc, commented, "Our Company was founded on bringing new concepts and unique, innovative designs to the global CHP market. We see the integration of the Cyclone HE and other components into our current and future products lines as critical to enabling us to achieve our goal of offering durable and affordable CHP systems to consumers and businesses. We have searched diligently across the globe for a suitable partner to provide these components. When we contacted Cyclone they had exactly what we needed for our combined heat and power systems in the unique sizes that were unavailable anywhere else. This has allowed us to reduce system footprint and weight by as much as fifty percent. Our systems are now about the size of a residential dishwasher and weigh less than one hundred and fifty pounds.
"This agreement with Steam Logic Inc. provides us with entry into one of the fastest growing energy markets in North America. The natural gas and propane fired CHP market is expected to experience exponential growth over the next five years," stated Frankie Fruge, President of Cyclone. "We think that partnering with this team of distinguished leaders in their unique equipment operating fields presents a great commercial opportunity for Cyclone. We look forward to the beginning of what we expect to be strong and mutually beneficial relationship with Steam Logic Inc. and Ark Technologies."
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 a 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 the Society of Automotive Engineers' AEI Tech Award in 2006 and 2008. Additionally, Cyclone was recently named Environmental Business of the Year by the Broward County 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.
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