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Cyclone Power Technologies Receives Purchase Order for Two Waste Oil Gensets from Phoenix Power Group

^{Published on 2010-09-29 06:50:26 - Market Wire}
 

POMPANO BEACH, Fla.--([ BUSINESS WIRE ])--[ Cyclone Power Technologies ] (Pink Sheets: CYPW) has received a purchase order from its licensee [ Phoenix Power Group ] (PPG) for two waste oil power generators. The renewable power systems are scheduled to be delivered by the end of the year for field testing with PPGa™s nationwide distributor, [ Clean Burn ], the world leader in waste oil furnaces and boilers.

"Overwhelming market demand has led us to focus on launching a smaller genset that matches the waste oil disposal requirements of the vast majority of garages and lube shops throughout the United States"

The new Phoenix 10kW waste oil generator will be powered by Cyclonea™s WHE-25 engine a" a compact, scalable waste heat enginea" using a specially designed, clean emissions combustion chamber. The aPhoenix 10a, which is expected to be in limited commercial production in early 2011, will allow thousands of oil change and drop-off locations to recycle their waste motor oil in an environmentally-friendly and profitable manner by producing grid-tied electricity.

aOverwhelming market demand has led us to focus on launching a smaller genset that matches the waste oil disposal requirements of the vast majority of garages and lube shops throughout the United States,a stated Thomas V. Thillen, President of PPG. aWe still intend on launching a larger 40kW system later in 2011, as previously announced.a

Waste motor oil is a major source of contamination of waterways that can result in the toxic pollution of drinking water. According to the U.S. Environmental Protection Agency, waste oil from one oil change can contaminate 1 million gallons of fresh water.

aApproximately one billion gallons of waste oil are disposed of each year in the U.S.,a stated Cyclonea™s Executive VP, Christopher Nelson. aWe are pleased to be part of a project that could have such widespread benefits a" giving companies and individuals an economic incentive to turn this potentially hazardous substance into a clean, renewal energy source.a

To learn more about PPGa™s waste oil systems, please visit the companya™s web site which, for a limited time, can be accessed through [ GE-ecomagination/Phoenix ]a" the $200 million GE Challenge. To see a video of Cyclonea™s scalable Waste Heat Engine that will power the Phoenix 10, please visit: [ GE-ecomagination/Cyclone-WHE ].

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.