Cyclone Power Technologies Receives Impressive Turn-Out, Presents 2011 Achievements and 2012 Goals at Open House
POMPANO BEACH, Fla.--(BUSINESS WIRE)-- Cyclone Power Technologies (OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced that over 120 people attended its 2011 Open House, including a guest speaker from Raytheon, and representatives from Congressman Alan West’s office (FL-22), the Greater Ft. Lauderdale Alliance, the Offices of Economic Development for Broward County and the City of Ft. Lauderdale, and the Florida Manufacturing Extension Partnership (MEP).
Held at Cyclone’s facility on Friday, December 9th, the Open House included presentations by management detailing the Company’s progress to date, and plans for growth over the next year. Among these plans included additional projects expected from the defense sector. Kevin Bowen, Engineering Fellow for Advanced Technology at Raytheon Integrated Defense Systems, was a featured speaker at the event and provided a detailed account of the importance of Cyclone engines to the mission of his company and the U.S. military.
Ted Astolfi, Senior Manager of Partnerships for the Florida MEP, stated, “After meeting the entire Cyclone team, and witnessing firsthand their incredible technology, I believe Cyclone should be a showcase for technology and manufacturing in Florida.”
2011 Highlights discussed at the meeting included:
- Received contract from Raytheon
- Awarded contract with U.S. Army through licensee, Advent Power
- Signed licensing agreement with Combilift
- Entered manufacturing agreement with TopLine Automotive
- Became SEC reporting and moved to OTCQB
- Expanded team and facility by over 30%
- Received 15 additional patents on engine technology in U.S. and worldwide
2012 Goals discussed at the meeting:
- Complete current pipeline of contracts, and expand business through new development contracts and licenses;
- Further expand operational capacity by completion of financing, move to a larger facility, new hires, and partnerships with synergistic companies;
- Grow revenue through the development and sale of prototype engines and commencement of small-scale production;
- Achieve operational “break-even” by the end of 2012; and
- Continue stock up-listing to a national exchange.
Christopher Nelson, President of Cyclone Power Technologies, commented, “We couldn’t be more pleased with the success and turnout for our 2011 Open House. Dedicated shareholders from all over the world and high ranking representatives from local and Federal government offices came to see our progress, and for that Cyclone is very grateful. The Company had a productive year in terms of technology development, business generation and overall expansion. We feel very good about continuing this momentum into 2012, and with the strong support evident at this meeting, we’re confident in our ability to achieve the goals we’ve set for ourselves.”
To view management’s presentation and photos from the Open House, please visit the Company’s website at http://cyclonepower.com/events_current.html.
Follow Cyclone on Facebook: www.facebook.com/CyclonePowerTechnologies
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 CEO 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 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.
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