POMPANO BEACH, FL, May 23, 2017, Cyclone Power Technologies (OTCPK: CYPW) Auditor, Soles, Hynes & Company have been of engaged to complete the fiscal year end 2016 audit, as well as, review the first three quarters of 2016 and the first quarter of fiscal 2017. We anticipate being completed with this work by the end of July 2017. This will then bring the Company up to date and will comply with the reporting requirements of the governing bodies. “We realize that that there were unforeseen events that set the Company back significantly on the previous audits, however, we are confident that the audit will go more smoothly with the engagement of Soles, Hayes & Company. It will be good to be up to date again and able to concentrate on production.” Frankie Fruge stated.
A Brief Update to Cyclone Shareholders:
Cyclone is moving forward with the manufacturing. This is including visiting our off the shelf component vendors and our three US manufacturers. Cyclone engineers are meeting with the engineers that provide our bearings, pistons, condensers, and heat exchangers. These components will all be provided to the manufacturers for integration with the engine then shipped to our OEM’s. The primary OEM will be TAW Power system who will then integrate the engine into generator systems from 3Kw to 18Kw using all liquid and vapor fuels. All sales from TAW Power System to the Distributors will be invoiced thru Cyclone Power. Cyclone currently has purchase orders in house for over two hundred generator sets just to one OEM. We are working on a delivery schedules and final pricing for distributors.
Native One financial’s partner N1 Solutions and Cyclone have signed a teaming agreement. Kyle Hoffman and Dennis Smith said, “We see the advantages of the Cyclone Technology for much needed applications for Native Tribe communities both in the U.S. and Canada. N1 will be providing assistance in securing business opportunities in and around Native lands and the business community. This is an exciting product to service the remote areas of the Native communities and we are proud to be involved.”
Harry Schoell has been invited to speak at the Engine Expo 2017 in Messe Stuttgart, Germany on June 21, 2017. This Expo is in conjunction with Stuttgart Automotive Industry Expo Week.
After the Engine Expo Harry will be in Denmark to assist Falck Schmidt Defense Systems in enhancing the S2 Engine progress to a robust militarization levels.. They will be taking the engine generator system to a TRL-8 status. Militarization and TRL (Technology readiness level) is a requirement from any product used in combat military worldwide. The subsystems and engine have to go thru extreme conditions. FSDS has stated that the engine and subsystems are currently at a TRL-5. The project for militarization is being funded additionally by the Denmark military.
The engineering staff is visiting two industrial sites in Tennessee next week for the first of the Thermal Storage Unit based Solar 24 Hour power plants using Cyclone Engines. As we progress into the manufacturing of the 3Kw to 18Kw, the Mark 7 (160 Kw) for industrial solar power with the Cyclone’s Thermal Storage Unit will be the next project. The Solar project in the 1Mw range will be our next main focus to be manufactured. The interest in this storage of free solar heat to run an engine after the sun goes down is there. The industrial sites, office buildings, and malls can reduce their power consumption and in turn lowering their utility bills. The utility companies can regulate their peaks on a 24 hour basis and reduce their brown outs.
Frankie Fruge, President, states: “We believe in the progress of our business model and the viability of our technology. Cyclone is now aligned with established partners as integrators, manufacturers, vendors, and licensees. Our shareholders and supporters must not overlook the strengths of Cyclone, as they truly separate us from the vast majority of “micro-cap” companies out there. We are energized by these projects and partners, and will continue to work diligently providing results for our shareholders.”
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.