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Cyclone Power Technologies Successfully Completes R&D Project for Raytheon Company

Dépèche transmise le 16 février 2011 par Business Wire

Cyclone Power Technologies Successfully Completes R&D Project for Raytheon Company

POMPANO BEACH, Fla.--(BUSINESS WIRE)--Cyclone Power Technologies Inc. (Pink Sheets: CYPW) has successfully completed a third phase of performance tests of its heat-regenerative external combustion engine for Raytheon Integrated Defense Systems (IDS), a business of Raytheon Company.

“Given these results, we are on track to provide Raytheon’s customers the energy and power sources for the enduring UUV’s and persistent undersea operations required to meet emerging threats in the defense of our country”

The tests verified by Raytheon demonstrated that Cyclone’s prototype, water-cooled “Stingray” engine achieved thermal efficiencies over 30%. Applied to a large diameter unmanned undersea vehicle, such efficiency yields double current payload capacities and triple the current mission times.

“This is the third round of rigorous engine testing that we have successfully completed for our customer,” stated Harry Schoell, CEO of Cyclone. “Once again, the Raytheon IDS team has carefully reviewed and validated our results. We look forward to working on more projects in the future with Raytheon.”

The demonstration of Cyclone’s engine technology was in fulfillment of an Independent Research and Development (IR&D) contract from Raytheon IDS signed last year. In conjunction with this project, Raytheon and James R Moden Inc. are developing an undersea power and propulsion system prototype.

“Given these results, we are on track to provide Raytheon’s customers the energy and power sources for the enduring UUV’s and persistent undersea operations required to meet emerging threats in the defense of our country,” stated Jim Moden, developer of the monopropellant utilized for this application. “When completed, this system will provide mission enhancing virtues such as improved safety, lower environmental impact, lower cost of ownership, and higher energy and power density when compared to present advanced state-of-the-art battery systems.”

CORPORATE PROFILE

Cyclone Power Technologies is the developer of the award-winning Cyclone Engine – 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 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 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.