Pompano Beach, FL, August 15, 2017. Cyclone Power Technologies (Pink Sheets: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has signed an agreement with Q2Power Technologies and Phoenix Power Group based in West Palm Beach, Florida and Memphis, Tennessee respectively, allowing for Q2Power to transfer their exclusive License agreement from Cyclone Power to Phoenix Power Group. On the transfer, the license transforms from an exclusive to a non-exclusive license and allowing Phoenix and Cyclone with advantageous modifications and payments for Cyclone. Phoenix will then be authorized to produce the Waste Heat Engine.
The transfer of the license of Q2 Power (formerly WHE Generation) will allow Phoenix Power Group to continue its manufacturing and development of their engine based on Cyclone Technology and integrates it into the Phoenix proprietary waste fuel steam generating furnace. Cyclone will now also have the right to manufacture engines for the waste fuel and waste heat markets. Phoenix Power had a license agreement with Cyclone prior to the WHE spin off. Because of the nature of waste oil the license was transferred with the spinoff of WHE from Cyclone. Q2Power has transitioned its business to the manufacturing of compost and sustainable soils.
Frankie Fruge, President of Cyclone commented “This is a great move for all parties, including our shareholders. Cyclone is looking forward to working with the Phoenix team again.” Phoenix and their waste oil fired fueled furnace has a product that will be a critical component in meeting many challenges of waste fuels. It can also provide heat energy to operate water purification and refrigeration systems, thus offering access to 21st century standards of living to those who have missed out. We are passionate about our products and the impact they can affect globally.”
“This agreement with Phoenix also provides them with the ability to use fuels in their systems that are not labeled as waste fuels and it allows Cyclone to use waste fuels and waste heat in their systems. We both agree that this is the best method to get all of our products to market without micro managing the fuel sources. This puts both Companies into one of the fastest growing energy markets in the World. The heat and electrical ‘CHP’ market is expected to experience exponential growth over the next five years,” continued Frankie Fruge. “We think that partnering with this team again 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 a strong and mutually beneficial relationship with Phoenix. We all wish Chris Nelson and Q2 a successful future.”
Update on Cyclone
Cyclone has completed their 2 Q and will file this week staying in compliance with the SEC filing. Soles, Heyn & Co. Auditors, Bruce Schames, CFO and Lawrence Bornstein, Cyclone Consultant have all done an excellent job at getting us up to date on all of our filings. We all appreciate their hard and diligent work.
Cyclone is moving forward with the OEM’s (Original Equipment Manufacturer) and Distributor giving us the base of our first units that will be delivered to them. Cyclone welcomes Altris Thermal of Utah as a solar/thermal OEM. Republic Energy of Alabama as an OEM for their bio-fuel systems to run off the non-condensables. And we welcome Solar-Masters of California as an OEM for portable lighting generator systems.
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
Phoenix Power Group LLC