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Cyclone Power Technologies Expands Facility to Fulfill $2 Million Backlog for Its Clean-Tech Engines

Dépèche transmise le 19 juillet 2011 par Business Wire

Cyclone Power Technologies Expands Facility to Fulfill $2 Million Backlog for Its Clean-Tech Engines

POMPANO BEACH, Fla.--(BUSINESS WIRE)--Cyclone Power Technologies (Pink Sheets: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it will expand the size of its facility by 30% beginning this month. The company will utilize the additional space, for which it recently signed a multi-year lease, to strengthen its engine development capacity.

“We are a company at a point of positive inflection in which we are transitioning from research and development to fulfilling purchase orders for pre-production engines”

Cyclone has a current backlog of orders for prototype engines valued at approximately $2 million. Two-thirds of these contracts have been received in the last three months, including those from Raytheon Company and international industrial equipment manufacturer CombiLift. Cyclone anticipates that these initial orders will lead to future production engine purchases, as well as contracts and licenses from new customers. In addition to expanding its work space, Cyclone is also in the process of hiring more mechanical engineers and skilled technicians, some of whom the company expects to come from the dismantled Florida space program.

“We are a company at a point of positive inflection in which we are transitioning from research and development to fulfilling purchase orders for pre-production engines,” stated Christopher Nelson, President of Cyclone. “The additional space, capacity and personnel are key steps to handling this growth. It’s a very exciting time to be part of Cyclone.”

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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 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, 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.