POMPANO BEACH, FL June 23, 2016 Cyclone Power Technologies Inc. (OTC:CYPW), developer of the all-fuel clean-tech Cyclone Engine, announced that Falck Schmidt Defense Systems (“FSDS”) of Denmark has signed an exclusive Engineering Development Agreement with Cyclone Power Technologies. This agreement provides for the development over the next 6 months, of a militarized 10 Kw auxiliary power unit (APU) for worldwide military applications. FSDS will be the exclusive worldwide distributor for both military and aerospace power applications.
The exclusive Engineering Development Agreement calls for an initial engineering fee of $225,000. Other license fees will be agreed upon within the next 90 days. Work has commenced with FSDS mechanical and electrical engineers arriving at Cyclone on June 21, 2016. The statement of design work and critical path calls for the building of two systems to be built at Cyclone’s offices. These will then be taken to FSDS for militarized testing. FSDS engineers will assist Cyclone in the necessary changes to the basic Cyclone 10 Kw system to make it applicable to military standards. The exclusive Engineering Development Agreement allows FSDS the rights to build and sell the Cyclone powered systems exclusive to all military and aerospace worldwide as our representative and pay cyclone a license or royalty fee.
Frankie Fruge, President of Cyclone Power, stated, “This is the result of our delivery of the S-2 to the US Army TARDEC two years ago and has now after, year-long negotiations, found its way back to the military through the worldwide organization FSDS. Cyclone is excited to work with an international organization with extensive expertise in the military arena. It is projected that there will be manufacturing resulting from the license agreement, development of new products in conjunction with FSDS’s R&D center, and income from license fees and royalties. Cyclone is on track with this alliance and continues to focus on completing projects, bringing revenue to our top line and profits to the bottom line.”
Jan Falck Schmidt, Chief Executive Officer of FSDS, stated, “The Cyclone engine power system is a real asset to the added power loads our militaries are encountering due to the extended use of electronics. We are expanding our operation to provide a wider range of much needed military standard products. The all fuel, small size, and low emissions make the Cyclone powered systems the green answer for all militaries.”
About: Falck Schmidt Defense Systems
Falck Schmidt Defense Systems (FSDS) is recognized as a key supplier and prime contractor within the Danish industry complex. Falck Schmidt Defense Systems, through its rich heritage in engineering and innovation, has a good reputation in supporting the Danish military with modern and sophisticated products.
FSDS has previously acted as system integrator and took full responsibility for the whole solution delivered to DALO. This included Program Management through to Integrated Logistics Support.
The company completed the full manufacturing and delivery test of the first 22 PIRANHA III for MOWAG to the Danish Army. Furthermore completed the design and manufacturing of 50 special designed M113, called M113A2 Mk I DK and in this project FSDS integrated an Oto Melara turret with the 25 mm Oerlikon-Contraves machine-cannon including the thermal sight produced by Zeiss and all belonging systems. The Company has performed overhaul of more than 100 Main Battle Tanks LEOPARD 1 and overhaul/rebuild of more than a thousand APC M113. FSDS has been involved in the conversion of more than two hundred LEOPARD 1A3/A4 to the A5 version for the Danish Army. FSDS has developed, manufactured and supported several add-on armor systems i.e. for the LAV/PIRANHA III and the fire support vehicle PNMK M/92.
The company E. Falck Schmidt A/S was founded in 1935 by Ejnar Sophus Falck Schmidt, as a family owned business. The company was in the blacksmith industry, developing and manufacturing rescue type vehicles for the Falck Group – a rescue company owned by the Falck family and founded by Sophus Falck, the father of Ejnar Sophus Falck Schmidt. In the early 1960’es E. Falck Schmidt A/S entered into the defense industry working with overhaul and repair of tracked vehicles and components. Another part of the company’s business was related to man lifts: E. Falck Schmidt A/S soon was established as the world market leader on narrow high reach man lifts. E. Falck Schmidt – Defense Systems Division evolved from the sixties into the 21st century into a company with a wide range of capabilities and sales, mainly within the NATO community. In early 2005 the company diversified. All defense related activities are now executed by Falck Schmidt Defense Systems A/S under the management of Jan Falck Schmidt, president and CEO. CEO Jan Falck-Schmidt is 4th generation descendant of the legendary Sophus Falck who founded Falck Rescue Ltd more than 100 years ago. FSDS still save lives – now through our products and services, which aim to secure the lives and safe return of our soldiers.
About: Cyclone Power Technologies Inc.
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 CTO 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 Environmental Protection Department. We have also received EPA and California Emissions certifications for 25HP and under using any fuel for power generation. 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.
Cyclone Power Company Contact
Frankie Fruge, President
FSDS Company Contact