NEWS
Pompano Beach, FL, Nov. 3, 2010. Cyclone Power Technologies (Pink Sheets: CYPW) has received approval from PECO, the electric utility in southeastern Pennsylvania, to complete installation of Cyclone's initial waste heat power generator at the Hatboro, PA facility of its customer, Bent Glass Design.
Cyclone's waste heat power generator - comprised of its scalable Waste Heat Engine (the WHE-25), proprietary heat exchangers and electric generating equipment - required approval from PECO to connect to the electric grid. When operating, Cyclone's waste energy recovery system will convert over 500,000 BTUs of exhaust heat from Bent Glass' furnaces into power that can off-set peak electricity usage and corresponding demand charges at the facility.
"Approval from PECO is significant not only because it allows us to complete our first waste heat recovery project, but also because it sets a precedent for how other utilities around the country may view small-scale industrial waste heat projects," stated Christopher Nelson, Managing Director of Cyclone's WHE division. "Grid tying these scalable systems is a new concept for the utilities, who we believe must view such projects as great opportunities to meet renewable portfolio standards and expand their support of clean, alternative power supplies, similar to wind and solar."
PECO will still need to review and test certain safety disconnect procedures in the final system and install a new power meter at Bent Glass prior to going live, which is expected to occur later this month, subject to the scheduling of the utility.
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.
