FSDS deal sounds familiar, remember the 2013 TARDEC deal-- same old HYPE
Cyclone Power Technologies Completes Fourth Milestone Under U.S. Army Engine Development Program
Marketwired MarketwiredMay 1, 2013
POMPANO BEACH, FL--(Marketwired - May 1, 2013) - Cyclone Power Technologies Inc. (OTCQB : CYPW ), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has successfully completed the fourth of five major milestones under its engine development contract with the U.S. Army / Tank Automotive Research, Development & Engineering Center (TARDEC), which included completion of engine enhancements and preliminary full system testing. With this accomplishment Cyclone has submitted for payment an invoice for approximately $250,000.
The Army / TARDEC contract is valued at approximately $1.4 million, of which $1 million has been received to date by Cyclone. The program objective is to develop a Phase I prototype of a highly compact, lightweight 10kW power generator, driven by Cyclone's power-dense, external combustion engine. The final product is expected to be compatible for use with multiple lines of combat vehicles either as a built-in auxiliary or dismountable and portable power unit.
Christopher Nelson, Cyclone's President, stated, "We are making great progress with this engine program, and are on budget and within schedule to deliver a prototype system this summer. This will be a major accomplishment for us, which we believe will put us in a strong position for Phase II follow-on funding."
