SOURCE: Cyclone Power Technologies, Inc.

December 17, 2008 08:30 ET

Cyclone Power Technologies Adds Two Directors to Its Board

POMPANO BEACH, FL--(Marketwire - December 17, 2008) - Cyclone Power Technologies, Inc. (PINKSHEETS: CYPW) has added two new members to its Board of Directors: James Landon and Frankie Fruge.

As President of Landon & Associates P.A., James Landon has been the company's accountant of record for over four years. Mr. Landon is a highly respected CPA and Certified Fraud Examiner. He is a member of the American Institute of Certified Public Accountants and its Business Valuation and Forensic & Litigation Services Section, a member of the Florida Institute of Certified Public Accountants and its Valuation, Forensic Accounting and Litigation Services Section. He is also a member of the Association of Certified Fraud Examiners, and the National Association of Certified Valuation Analysts. Mr. Landon received his Bachelor of Engineering Science from The Johns Hopkins University, and his Master of Science in Administration with a concentration in Business Financial Management from The George Washington University.

"We thank Jim for bringing his great experience, accounting and business knowledge, talent and integrity to our Board," stated Harry Schoell, Cyclone's CEO and Director.

Frankie Fruge, currently Chief Operating Officer of Cyclone, has been with the company since its inception in 2004 in the role of General Partner and Director of Administration. Between 1999 and 2003, she was President of Propulsion Systems, Inc., a company that developed and sold surface drives; and then CFO of Pulse Drive Inc., between 2003 and 2005, a company also in the marine propulsion field. Prior to this time, Ms. Fruge spent over 10 years as an oil refinery operating engineer, and eight years as an auditor for Ernst & Ernst (the predecessor to Ernst & Young).

"Frankie is the heart and soul of our operation," added Mr. Schoell. "Her judgment, resourcefulness, toughness and practical experience will be a great addition to our Board."

The appointments to the Board of Directors took place on December 16, 2008, by means of a Shareholder Consent in lieu of an Annual Meeting. Mr. Schoell was also appointed to serve an additional year on the Board. No other matters were acted upon in the consent.

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.

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