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Raytheon Company Places Order for Multiple Engines from Cyclone Power Technologies

Dépèche transmise le 26 avril 2011 par Business Wire

Raytheon Company Places Order for Multiple Engines from Cyclone Power Technologies

Raytheon Company Places Order for Multiple Engines from Cyclone Power Technologies

POMPANO BEACH, Fla.--(BUSINESS WIRE)--Cyclone Power Technologies Inc. (Pink Sheets: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced that Raytheon Integrated Defense Systems (IDS), a business of Raytheon Company, has placed an initial purchase order for multiple engines from Cyclone. This contract is valued at approximately $400,000. The work will be performed at Cyclone’s facility in Florida.

“We are designing and building engines such as the MantaRay for Raytheon and their customers, and starting to generate revenue from these operations. We’re very pleased to be working alongside such a well established and respected company and look forward to building our relations going forward.”

These initial purchased engines, named the MantaRay, are based on the company’s Mark V engine and patented technology. The MantaRay represents one of several engine models and projects on which Cyclone and Raytheon are collaborating.

“After months of rigorous engine testing, we’re pleased to say that Cyclone and Raytheon are now entering the next phase of our working relationship,” stated Harry Schoell, CEO of Cyclone. “We are designing and building engines such as the MantaRay for Raytheon and their customers, and starting to generate revenue from these operations. We’re very pleased to be working alongside such a well established and respected company and look forward to building our relations going forward.”

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 an 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. 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 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.

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Business Wire

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