NEWS
Cyclone Power Technologies Enters
Prototyping Phase with Licensee in China
POMPANO BEACH, FL, Aug. 3, 2010. Cyclone Power Technologies Inc. (Pink Sheets: CYPW) announced that its licensee Great Wall Alternative Power Systems Ltd. has completed the first phase of its License Agreement involving the establishment of secure intellectual property protocols in China for Cyclone's technology. The parties now enter the prototyping phase of this agreement in an effort to advance the production of Cyclone's heat-regenerative external combustion engines for the China market.
A major aspect of Cyclone's agreement with GWAPS entails structuring strict and well defined procedures and protocols for protecting Cyclone's patents in China. This involves creating secure computer network systems, implementing confidentiality agreements, educating personnel, establishing government liaisons, and retaining legal professionals to monitor and, if necessary, prosecute patent infringement cases in China. As part of this process, Cyclone has retained legal counsel of its own in China to audit the IP protocols that GWAPS establishes.
"We're pleased with how seriously GWAPS takes their responsibility not only to protect our intellectual property in China, but also to be a proactive advocate for our technology in that country," stated Cyclone's General Counsel, Christopher Nelson. "We have a great deal of faith that our partners in China will be able to bring products to market in a manner that will protect the long-term value of Cyclone's patents."
GWAPS will now proceed to develop in China a production prototype of Cyclone's biomass-to-power generator system - a portable CHP power plant capable of producing 10kW or more of electricity from the combustion of dry vegetative biomass, as well as delivering space or water heating to nearby homes. The parties will also formulate plans in the coming months for the prototyping of Cyclone's Mark V engine for electric power generation from bio-fuel combustion.
"We see this innovative biomass-to-power generator system as the first piece in a long and fruitful working relationship with Cyclone," stated Robert Devine, Managing Director of GWAPS "The Chinese government has set an installed capacity target of 30GW of biomass-generated power by 2020, with expected investment approaching US$30 billion. If Cyclone and GWAPS can deliver the first reliable, cost-effective distributed biomass power solution as part of this rollout, the market potential will be enormous."
GWAPS is led by a group of veteran China operators and investors for the purpose of developing Cyclone technologies for the China market. GWAPS Chairman Zhan Shan, a PRC national, previously founded several new energy ventures including China's first private municipal gas company as well as China's first technology developer of large-format lithium-ion batteries. Managing Director Robert Devine has over a decade's experience investing in the PRC's consumer goods, technology, media and real estate sectors, initially with a well-known US private equity group then later on his own account. Keith McDade, recruited from the US to be VP of Technology and Engineering, has a 20-year successful track record in engine systems engineering and management with companies such as Boeing, Pratt & Whitney and Airbus. Mr. McDade also has previous work experience in China.
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.
Media Contact
Will Wellons
407-462-2718
will@redletterpr.com
Company Contact:
Frankie Fruge
954-943-8721
Frankie@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.
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