POMPANO BEACH, FL — (Marketwired) — 10/21/14 — (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.”
is the developer of the award-winning — an all-fuel, 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 external combustion engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel – including , or – while emitting fewer greenhouse gases and irritating pollutants into the air. The Cyclone Engine was recognized by Popular Science Magazine as the for 2008, and was presented with two Society of Automotive Engineers– . Additionally, Cyclone was named by the Broward County Environmental Protection Department. For more information, visit .
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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.
Frankie Fruge
President
Rob Wilson
Investor Relations
Tel: 954-943-8721
WHE GEN contact
Christopher Nelson
CEO
Tel: 305-439-5559