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Cyclone Power Technologies Completes Testing, Ships Initial Waste Heat Power Generator

^{Published on 2010-07-13 06:15:42 - Market Wire}
 

POMPANO BEACH, Fla.--([ BUSINESS WIRE ])--[ Cyclone Power Technologies ] (Pink Sheets: CYPW) has completed internal testing of its initial waste heat power generator and has shipped the beta unit to its customer, [ Bent Glass Design ].

"This is a major step forward in the commercialization of our waste heat technology, which we expect to comprise a substantial portion of our overall business in the future"

Cyclonea™s waste heat power generator a" comprised of its 18hp Waste Heat Engine, proprietary heat exchangers and electric generator a" will be installed and field tested at Bent Glassa™ facility over the following couple of months. This initial system will convert over 500,000 BTUs of exhaust heat from the customera™s glass manufacturing furnaces into electricity, which will be supplied back to the power grid. The final system is expected to be cash positive in 12 months and provide a full payback to Bent Glass within three years.

aWea™re pleased to be receiving this waste heat power system from Cyclone and look forward to working with their team to complete installation,a said Bent Glass founder and President Steve Lerner. aIn addition to providing substantial savings to our bottom line, we believe that this system will help us conserve non-renewable energy resources and reduce greenhouse gas emissions.a

aThis is a major step forward in the commercialization of our waste heat technology, which we expect to comprise a substantial portion of our overall business in the future,a stated Christopher Nelson, Managing Director of Cyclonea™s WHE division. aWhile there is more testing and validation to be done, we forecast that our revenues from waste heat operations could approach $50 million annually within five years.a

Cyclonea™s Rankine-cycle waste heat engine has been in development since late 2008, and during that time has undergone many months of advancements to increase durability, efficiency and power output. The same engine was shipped in March 2010 to Robotic Technology as part of a project sponsored by [ DARPA ], an agency of the U.S. Department of Defense.

aPeople sometimes forget that there are no pre-existing abuild-bya™ design drawings for these engine systems a" we have developed it all from the bottom up and that takes time,a stated Cyclonea™s CEO and technology inventor Harry Schoell. aWe know, however, that there is an enormous, underserved market for medium-range waste heat power generators, and we believe that our system will still be the first to effectively convert such wasted energy into clean, renewable, revenue-producing power.a

CORPORATE PROFILE

Cyclone Power Technologies is the developer of the award-winning [ Cyclone Engine ]a" an eco-friendly external combustion engine with the power and versatility to run everything from portable electric generators and garden equipment to cars, trucks and locomotives. Invented by company founder and [ CEO Harry Schoell ], the patented Cyclone Engine is a modern day steam 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. Currently in its late stages of development, 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 Engineersa™ 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.