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FOR IMMEDIATE RELEASE Waste Heat Resources Inc. signs license agreement with Cyclone Power.Licenses use of Cyclone Engines for use in waste heat recovery applications to generate electricity.04/22/09
POMPANO BEACH, Fla., April 22, 2009. Cyclone Power Technologies (Pink Sheets: CYPW) has signed a License Agreement with Waste Heat Resources, Inc. (WHR) of Londonderry, New Hampshire. Under the agreement, WHR will provide Cyclone with licensing fees, royalties and engineering expertise in return for the rights to develop waste heat power solutions utilizing the award-winning Cyclone Engine technology.
In the initial stages of the agreement, WHR will assist Cyclone in adapting its flagship “Mark V” automotive engine, currently in development, to generate power from exhaust heat captured from industrial ovens, furnaces and similar equipment. The patented Cyclone is a highly efficient, cost-effective external combustion (steam) engine. To be used as a waste heat engine (WHE), the parties will collaborate to develop specialized heat exchangers and condensers to work in these industrial applications.
WHR then plans to integrate the customized “WHE Series” Cyclone engines into its proprietary heat recovery, electric power generation solution -- the WHR Energy Forge -- which it expects to start beta testing soon. Overall, WHR has pledged to Cyclone $500,000 in license fees over the following 12 months, engineering and operating assistance, and royalties from the future installations of their Energy Forge systems throughout North America.
“We are thrilled to be joining forces with Cyclone. We believe that “green should be green,” and that our solutions will have a profound effect on our environment as well as our clients’ bottom line,” stated WHR COO, Carl Mueller. “Our engineers have searched for this co-generation solution for seven years, and we feel it is especially appropriate to be making an announcement of this importance on Earth Day 2009.”
WHR is comprised of industry veterans with over 35 years experience in designing, developing and installing industrial electrical and automation systems. These principals are well versed in high temperature gas-fired furnace operation, an expertise that will play a key role in recycling the vast amounts of heat that industrial facilities waste into the atmosphere each year.
“We are pleased to be working with WHR to develop this line of our business,” stated Frankie Fruge, Cyclone’s COO. “The goal of creating energy efficiencies for our businesses, our nation and our planet is of critical importance, and we see the Cyclone as the one engine that can do just that.”
“Now that we have secured this license, we are moving quickly to manufacture the engine and integrate it into our Energy Forges,” stated Mr. Mueller. “We are currently evaluating qualified beta test sites to prove up our systems’ capabilities.”
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 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 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.
Contacts
Cyclone Media Contact Will Wellons: 407-462-2718 will@wellonscommunications.com
Cyclone Contact Frankie Fruge: 954-943-8721 info@cyclonepower.com
Waste Heat Resources Contact Carl Mueller Tel: 323-954-8444 Info@wasteheatresources.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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