Cyclone Power Technologies Restructures Leadership to Create Efficiencies and Prepare for Growth
POMPANO BEACH, FL -- (Marketwire) -- 10/23/12 -- Cyclone Power Technologies, Inc. (OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has restructured its executive team in an effort to increase operating efficiencies and prepare the company for future expansion and manufacturing.
James Landon, who currently serves on the Company's Board of Directors, will assume the role of Chief Executive Officer on an interim basis effective immediately. Harry Schoell, the company's Chairman, co-founder and inventor of the Cyclone engine, will fill the new position of Chief Technology Officer. This move will allow Mr. Schoell to focus full time on technology development and innovation for the company. Day-to-day operations, as well as financing, contracting and legal matters, will be handled by the company's President, Christopher Nelson; while human resources and facility operations will be the responsibility of Frankie Fruge, the company's Chief Operating Officer.
'I am honored to take this position within Cyclone at a very exciting period in our growth,' said Mr. Landon. 'As CEO it is my responsibility to oversee the transition of our technology from prototype to production, which will include the recruitment of highly-experienced and skilled managers and executives to facilitate the process. I along with rest of the Cyclone team look forward to ramping up our efficiencies and moving on to the next stage in our growth -- getting our technology to market.'
Mr. Landon has considerable experience in manufacturing and operations, serving as vice president of operations for a company engaged in the design, manufacture, and installation of material handling systems. He has also held positions for several companies over the years as vice president of finance and administration, chief financial officer, and president. Mr. Landon is a CPA and past president of the South Florida Chapter of the Association of Certified Fraud Examiners. He 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.
Mr. Schoell commented, 'I'm pleased that Jim has accepted the position of CEO, which will not only further Cyclone's operational growth and efficiencies, but it will also allow me to do what I do best -- invent. Given Jim's wealth of experience in manufacturing and operations, I am certain that he, alongside Frankie, Chris and me, will do a great job moving this company to the next level.'
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 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.
Cyclone Investor Relations
American Capital Ventures
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