***NEWS*** CYPW
Raytheon Company Awards Work Order to Cyclone Power Technologies
2010-02-17 09:10 ET - News Release
POMPANO BEACH, Fla. -- (Business Wire)
Cyclone Power Technologies (Pink Sheets: CYPW) has received a new design work order for its heat-regenerative external combustion engine from Raytheon Integrated Defense Systems (IDS).
Pursuant to the work order, Cyclone will be developing preliminary designs, specifications and test parameters on a compact 10HP external combustion engine for use in various power applications. The proposed Cyclone engine would be designed to run on both traditional fuels and an environmentally friendly monopropellant called Moden Fuel, which can combust in the absence of oxygen.
“We see this new project a solid continuation of our working relationship, which we expect to culminate in a formal teaming agreement soon,” stated Harry Schoell, CEO of Cyclone. “We are pleased to be working with Raytheon on the development of some very important projects for the military, homeland security, undersea exploration and other similar industries.”
In October 2009, Cyclone completed its first-phase Independent Research and Development contract for Raytheon IDS, which involved performing certain load-based dynamometer tests on the Company’s Mark II Engine, and also running the engine on Moden Fuel. The results from these tests were reviewed and validated at the time by Raytheon IDS, a business of Raytheon Company.
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.
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.
Contacts:
Cyclone Power Technologies, Pompano Beach
Media Contact
Will Wellons, 407-462-2718
will@wellonscommunications.com
or
Company Contact:
Frankie Fruge, 954-943-8721
info@cyclonepower.com
Source: Cyclone Power Technologies
