SOURCE: Cyclone Power Technologies, Inc.

November 17, 2008 08:30 ET

Bent Glass Design Purchases Engine System From Cyclone Power Technologies

POMPANO BEACH, FL--(Marketwire - November 17, 2008) - Cyclone Power Technologies Inc. (PINKSHEETS: CYPW) announced today that it has signed a purchase agreement with Bent Glass Design of Hatboro, PA for a Waste Heat Engine (WHE) cogeneration system. This is Cyclone's first sale and commercial installation of its award-winning WHE.

The initial WHE system covered under this agreement will convert over 500,000 BTUs of exhaust heat from the customer's glass manufacturing furnaces into electric power. Cyclone estimates that this system will offset nearly 100% of Bent Glass's electricity requirements for lighting at its 65,000 sq ft. facility. Because much of these savings are created during peak hours, the system is expected to be cash positive in year one and provide a full payback to Bent Glass within four years.

"We are excited to work with Cyclone on this important and innovative project," said Bent Glass founder and President Steve Lerner. "In addition to providing substantial savings to our bottom line, we believe the WHE will help us conserve non-renewable energy resources and reduce greenhouse gas emissions -- two critical goals for our nation and global environment."

This process of maximizing the usefulness of the energy we consume is known as cogeneration or combined heat and power (CHP). Successful CHP applications have been utilized in the United States since the 1970's, mainly in large industrial settings where the economies of scale make it commercially feasible. But according to Harry Schoell, CEO of Cyclone, "The compact, powerful WHE can open the door for smaller industrial and commercial customers to participate in the benefits of cogeneration."

"We look forward to completing this project for Bent Glass Design and demonstrating the enormous commercial viability of the WHE," added Mr. Schoell. This will be the premiere installation of the WHE in the manufacturing sector, but other applications for Cyclone's patent-pending steam engine include restaurants, commercial trucking and even distributed solar electric.

About Cyclone

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.

About Bent Glass

Bent Glass Design is a leading supplier of custom bent glass to the architectural and specialty industries. Our company is a single source for bent, bent laminated, and bent insulated glasses. These products can be specified for safety, security, acoustics, and thermal performance. Founded in 1988 by Steve Lerner, an innovator within the glass bending industry, Bent Glass Design offers its customers in the architectural, transportation, and marine industries the highest quality fabrication of specialty bent glass, personalized service, prompt delivery and technical design assistance. Bent Glass Design maintains a state-of-the-art facility located in Eastern Pennsylvania and ships glass products worldwide.

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.

Contact Information

  • Media Contact
    Will Wellons
    407-462-2718
    will@wellonscommunications.com

    Company Contact:
    Ann Staples
    Cyclone Power Technologies, Inc.
    601 NE 26th Ct.
    Pompano Beach, FL 33064
    954-943-8721

    Contact:
    Steve Lerner
    President
    Bent Glass Design, Inc.
    215.441.9101
    www.bentglassdesign.com