New News!!!!!
March 17, 2009 08:00 AM Eastern Daylight Time
Military Licensee Advent Power Systems Delivers Final License Fee to Cyclone Power
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Cyclone Power Technologies (Pink Sheets:CYPW) announced today that Advent Power Systems has made its final base payment to Cyclone under its Technology License Agreement. The timely delivery of this license fee secures for Advent the continuing rights to pursue power and motive applications for the Cyclone Engine with the U.S., European and Israeli military establishments, as well as large biomass applications.
As Cyclone’s first licensee, Advent has been active over the past four years in introducing parties like Raytheon Company and British defense supplier MEO Products Ltd. to the Cyclone Engine technology. Currently, Cyclone is developing for Raytheon an engine capable of running on the mono-propellant Moden Fuel, which combusts in the absence of air, making it perfect for undersea and outer-space applications. Working closely with MEO Products, Advent has commissioned Cyclone to build the man-portable 80W Genie Engine for U.S. and British military auxiliary power purposes, such as battery pack recharging in the field. Additional projects and potential clients of Advent have not yet been publicly disclosed, but include multi-billion dollar defense contractors.
“Over time we expect to begin to replace diesel engines and internal combustion engines with the Cyclone, and we believe that the military will be the early adaptors for this technology,” stated Dr. Phillip Myers, founder and CEO of Advent. “A major advantage for the military is Cyclone’s ‘one engine, all fuel solution’ which solves the enormous logistical problem of providing multiple specific grades and types of fuels to forces throughout the world.”
As an external combustion engine, the Cyclone is capable of running on virtually any liquid or gaseous fuel. Other important advantages of the Cyclone Engine include its high fuel efficiency, low emissions, compact size, light weight, and simplicity in design. This last benefit is expected to allow for lower manufacturing costs and higher reliability relative to ever more complicated diesel and IC engines.
Dr. Myers, an experienced corporate executive and high tech entrepreneur, is a former Air Force Engineering Officer with a doctorate from the Harvard Business School. He continued by saying: “We have enjoyed the opportunity to work with the excellent and creative personnel of Cyclone. We look forward to the development of additional Cyclone based products and applications, and the rapid expansion of production and sales.”
“Phil’s expertise and energy to work with the military and defense contractors has provided Cyclone with some major opportunities to commercialize our engine technology,” stated Cyclone’s founder and CEO, Harry Schoell. “We also look forward to continuing this business relationship for years to come.”
FrazDog
There are no rules here! We are trying to accomplish something! "Thomas Edison"
AI
