SOURCE: Cyclone Power

October 21, 2014 13:00 ET

Cyclone Power Technologies Receives $175,000 License Fee From Its Waste-Heat-to-Power Licensee

POMPANO BEACH, FL--(Marketwired - Oct 21, 2014) - Cyclone Power Technologies Inc. (PINKSHEETS: CYPW), developer of the all-fuel clean-tech Cyclone Engine, announced that its exclusive licensee in the area of waste-heat-to-power, WHE Generation Corp. ("WHE GEN"), has delivered to Cyclone a license fee of $175,000 per the terms of their July 18, 2014 agreement.

WHE GEN's license enables it to manufacture, market and sell on an exclusive, worldwide basis the Cyclone Engines for the specific uses of stationary waste-heat-to-power and waste-to-power. The company already has purchase orders for over $1 million worth of such engines scheduled for delivery over the following 2 years, upon which Cyclone will receive on-going royalty payments.

Frankie Fruge, President of Cyclone Power, stated, "This is an important initial step for Cyclone's business model of generating revenue from license fees, royalties on all of our engines and off-shoot technologies, and long-term investments such as the approximately 15% equity interests we continue to own in our licensee. The waste-heat-to-power market pursued by WHE GEN is just one portion of the overall business opportunities available for Cyclone Engines. We are focused on expanding and monetizing these numerous technology applications as we move forward."

About Cyclone Power Technologies
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine -- an all-fuel, clean-tech engine with the power and versatility to run everything from waste energy electric generators and solar thermal systems to cars, trucks and locomotives. Invented by company founder and CTO Harry Schoell, the patented Cyclone Engine is an eco-friendly external combustion 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. The Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with two Society of Automotive Engineers' AEI Tech Awards. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.

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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

  • Cyclone Power Company Contact
    Frankie Fruge
    President
    Rob Wilson
    Investor Relations
    Tel: 954-943-8721
    Email Contact
    Email Contact

    WHE GEN contact
    Christopher Nelson
    CEO
    Tel: 305-439-5559
    Email Contact