SOURCE: Cyclone Power Technologies, Inc.
EL SEGUNDO, CA and POMPANO BEACH, FL--(Marketwire - Aug 21, 2012) - Aura Systems, Inc. (OTCBB: AUSI) and Cyclone Power Technologies, Inc. (OTCQB: CYPW) announced today that the two companies have formed a technology development alliance to combine the all-fuel Cyclone Engine with the AuraGen induction motor and control unit. The partners anticipate that the integrated renewable power generation system will be able to provide a turn-key distributed solution for customers looking to produce grid-tied or stand-alone electricity from renewable and waste resources.
Cyclone's advanced steam engines are capable of converting recovered exhaust heat from industrial furnaces, biomass gasifiers and other waste sources into mechanical power. The AuraGen technology fits extremely well with Cyclone's engines, especially in applications where fluctuations in heat create variations in engine RPM. AuraGen units produce consistent rated power, at a wide range of engine speeds, as well as generating AC and DC power simultaneously in a variety of voltages.
Christopher Nelson, President of Cyclone, said, "Securing the partners needed to provide turn-key renewable power generator systems to our customers, both current and prospective, is an important part of our growth strategy. Aura has the generator technology, engineering team, production capabilities and resources to provide the electrical solution from start to finish. We are very pleased to be working with Aura and look forward to a long and successful working relationship."
Melvin Gagerman, Chairman and CEO of Aura, said, "We recognize the uniqueness of Cyclone's engine technology and the talents of its engineering team. This is an attractive partnership for Aura that we think provides an excellent market extension for our AuraGen product line."
For more information on Aura Systems Inc. visit www.aurasystems.com
For more information, visit www.cyclonepower.com.
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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. 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.