POMPANO BEACH, FL, June 8, 2016. Cyclone Power Technologies (OTCPK: CYPW) will be filing its required Reports to bring the financials up to date, and is releasing the following progress report to its shareholders:
Through the first quarter of 2016, we have: (i) made substantial advancements in our manufacturing and systems integrators of Cyclone’s technology, (ii) signed three major agreements and (iii) turned our focus to getting our first three base engines into production, (iv) marketing Cyclone’s other products developed with the engine.
Advancements in Manufacturing and Business
Cyclone has identified and engaged two manufacturers to produce the Mark 1 and Mark 3 Cyclone engines. Plunkett Power of Texas is the financial backer for the production of the Mark 3 at the facility in Foley, Alabama, and a distributor for the Cyclone Power Generator Units. Plunkett Power has already delivered to Cyclone three pre-production Mark 3 engines, one of which has been tested (video on Cyclone Facebook) for delivery and has shipped to 3R in Denmark for integration in their boiler system. The second one is being prepared for testing and will be sent to G2E for integration in their fuel power generator systems. The third engine will be tested and sent to TAW Power Systems of Tampa, to be integrated into a generator system for Cyclone to sell to their distributors for retail installations and sales. Nexgrid is requesting 10 test site units (Cyclone TSU, Solar Troughs, and engine) for their Company that we are working with our manufacturers to get them pricing.
The Mark 1 is being built by Hypex in Pennsylvania thru O.P.Schuman and we have taken delivery of 10 pre-production engines. The first one was run as a waste heat engine off of the Mark 3 for demonstration purposes and is being further tested at Cyclone. Some of the tests were videoed and can be seen on the Cyclone Power Facebook site. A Mark 1 engine will be shipped to our consultant in Sweden, Peter Platell of Ranotor, to be integrated and tested as an APU off the exhaust of a truck engine. The second one is being tested now to go to G2E in Mexico in August it will be assembled there to run off the Cyclone Solar troughs and the Cyclone Thermal Storage Unit, using proprietary molten salt as a means of storing the heat on a longer term basis, thus giving our engines a constant duty cycle.
The Mark 5 for Combilift that was produced and currently under testing for Combilift is now being updated to the production model. In working with our manufacturers, we have decided in conjunction with the management of Combilift to deliver a production model instead of a “beta”. Harry Schoell, CTO said “We realize that this has delayed the fulfillment of our previous contract, but feel this is a much better way to move forward with our customer. We have in house 5 new Mark 5 production engine blocks to expedite the project.” This will be worked into the schedule to update and deliver a production unit to Combilift and prepare our third manufacturer in Louisiana for this production.
The Engineering and License agreements with 3R and G2E call for additional engineering contracts after the first deliveries are received. The 3R has provision for a Mark 7 to be engineered for them for power generation. G2E contract calls for the Mark 3 for remote power generation and engineering for solar applications.
Cyclone has a consultant grant writer, Don White, who has submitted 10, papers looking for grant monies for power generation and motive power to various agencies and private entities. He continues to research and submit additional papers as the military and other branches of the government become more prevalent in their power advancement.
Frankie Fruge, President of Cyclone states: “This is the beginning of our new direction of prime manufacturers, selling engines to licensed integrators, and selling integrated products to distributors. Cyclone’s home facility will continue to be R & D, but by managing our licensee and royalties it t enable Cyclone to have a significant return and only handle the administration.”
Our 2016 projected revenue will be through our Engineering Systems and License Agreements. This is the results of our hard work over the past year.
Management is continuing its efforts to channel resources on revenue-producing projects. With the royalty streams that are projected from the licensees, and the finalization of the preproduction engines and components being delivered to our customers, we feel that our business model is finally coming to fruition.
We have not had the extra resources to devote to our Land Speed Record attempt, and therefore, have delayed it until we get a major sponsor. All of the volunteers involved are still on board we just need the last monies to get the driver and car safety gear. Web site www.teamsteamusa.com
Facebook: Cyclone Power Technologies
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.
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 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, was included in a 2011 report by Popular Mechanics as an important waste energy technology for the future, and was twice presented with the Society of Automotive Engineers’ AEI Tech Award. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Frankie Fruge, President