November 26, 2007 16:15 ET
10 Billion $$$ talk in 2007----ALL HYPE----
Cyclone Power Technologies Signs License to Manufacture Clean Green Lawn Equipment
POMPANO BEACH, FL--(Marketwire - November 26, 2007) - Cyclone Power Technologies, Inc. (PINKSHEETS: CYPW) announced today that it has entered into a License Agreement with Revgine, Inc., a technology development company based outside of Rochester, NY.
Under the terms of the license, Revgine has been granted the right to develop, manufacture and sell engines utilizing Cyclone's patented technology for use in lawn and garden equipment, such as lawn mowers, weed eaters, leaf blowers, snow blowers and chain saws. For these worldwide rights, Revgine has paid Cyclone an initial "six-figure" license fee and will pay Cyclone ongoing royalties from future engine sales.
"This license marks an important milestone for Cyclone, in terms of both our financial and technological growth," stated CEO Harry Schoell. "We see Revgine as not only our licensee, but also our development partner. We believe that with their resources and expertise, we can bring our technology to market and hit our financial projections with greater certainty."
Revgine brings to the table important technical resources and talent, including access to a modern manufacturing facility, engineering expertise in applied sciences and engine development, mechanics and machinists with a proven track record of manufacturing complex systems for commercial use, and vast material sourcing contacts.
The Revgine license covers lawn and garden equipment, a market of over $10 billion in annual sales in the United States alone, with great relevance for our environment. The U.S. Environmental Protection Agency has found that the 54 million Americans mowing their lawns each weekend with gas-powered mowers may be contributing as much as five percent of the nation's air pollution, and some states like California have begun to outlaw traditional internal combustion engines in lawn equipment. The engines initially contemplated under the Revgine license will be clean, propane-powered and emit far fewer pollutants or toxins into the atmosphere.
"This is the right product at the right time," added Mr. Schoell. "Let's mow!"
AI
