Pompano Beach, FL, March 6, 2016. Cyclone Power Technologies (Pink Sheets: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has signed an agreement with Nextra Technologies Europe B.V. and their partner Yakamoz Energy Solutions B.V. ,based in and incorporated under the laws of The Netherlands to manufacture and integrate Cyclone’s Heat Regenerative engines, Cyclone’s solar trough, and Cyclone’s Thermal Storage Units with their electrical technology to produce electrical power in Turkey, Europe (with head office In Holland) , and the Caribbean.
Nextra Technologies Europe B.V. (NTE) whose purpose of business is consulting, oversees, and arrange for total renewable energy projects (EPC). The company has completed/designed Solar, wind, biomass, and other renewable energy solutions for their clients. With a Caribbean branch, Nextra Technologies Caribbean N.V., and daughter company “Yakamoz Tr Enerji Cözümleri a.s”, ., the group engages in international renewable energy projects in, but not limited to, Europe, the Caribbean and Turkey, with a current client portfolio and potential of 175+MW.
A formal contract of the Agreement will be worked out over the next 60 days, while Nextra will collaborate with Cyclone to develop a pilot demonstration unit in Turkey while plans for manufacturing at their facilities in Holland and Turkey are finalized. Cyclone will retrain exclusivity for Solar systems sales outside of Nextra’s three exclusive territories and will receive royalties based on the total system manufactured by Nextra. This agreement will give Cyclone a manufacturing partner and integrator that currently have customers, located in Turkey, Europe and the Caribbean with an estimated portfolio of 175 megawatt diversified solar plants to be constructed on private land for localized power use.
Sefton Lo, CEO of Nextra Technologies Europe B.V. commented “I am very excited that we already have customers that are seeking 24 hour a day renewable energy power systems. Not only can we now give this to them with our alliance with Cyclone, it will also be at a cost savings compared to other systems now in place. My visit to Cyclone has now put our Company on track to be a leader in the renewable and specific Solar Power Industry with the game changer of 24 hour power use.”
“This agreement with Nextra and Yakamoz provides Cyclone with entry into Solar Power Markets that could utilize three of Cyclone’s products. The availability of the power of the sun to be used after the sun goes down is a huge step towards Solar to becoming a major power source in the smaller energy market place,” stated Frankie Fruge, President of Cyclone. “We think that partnering with this team of successful renewable energy providers presents another great commercial opportunity for Cyclone. We look forward of what we expect to be strong and mutually beneficial relationship with Nextra Technologies and Yakamoz Energy Solutions.”
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.
Frankie Fruge, President
Sefton Lo, CEO
Nextra Technologies Europe B.V.
Yakamoz Energy Solutions B.V.