POMPANO BEACH, FL -- (Marketwired) -- 05/07/13 -- Cyclone Power Technologies (OTCQB: CYPW) developer of the all-fuel, clean-tech Cyclone Engine, announced that it has received support from key local and federal political leaders in Ohio for the Company's plans to advance its engine production operations, including the possible expansion of a factory and hiring of engineers and manufacturing experts in that state. The meetings were held in Carroll, Ohio, at the site of one of Cyclone's manufacturing partners, Precision CNC (www.Precision-CNC.com).
Cyclone is currently working with several major partners, including the U.S. Army - Tank and Automotive Research Development & Engineering Command (TARDEC) and Ohio State University's Center for Automotive Research (CAR), to transition certain of its engine models from prototype to production. These are compact, efficient engines capable of utilizing virtually any fuel or raw heat source to produce shaft power to run electric generators and mobile applications. Among the many uses for this technology include micro-grid waste-to-power generators and portable power units for emergency response and defense customers.
Among the options that may be available to Cyclone include job creation incentives, property tax credits, and economic development bonds for the purchase of equipment and facilities. The meetings were attended by Economic Development Director for Fairfield County Bob Clark, Fairfield County Commissioner David Levacy, Columbus 2020 Project Manager Katie Hamilton, and U.S. Representative Steve Stivers (OH-15).
Rep. Stivers, whose district encompasses Precision CNC's facility, commented: "I thank Cyclone and Precision CNC for showing me the incredible work both companies are doing to develop clean energy technologies that can support the diversification of our energy resources, and create dozens of engineering and production jobs here in Ohio. Small businesses like Cyclone and Precision CNC are the engines for economic growth in the United States by creating real value through research and manufacturing. I support their ingenuity and efforts."
Christopher Nelson, President of Cyclone, stated: "We thank local leaders and Congressman Stivers for their strong support of our mission to transition Cyclone engines into production. This is a challenging process for any small business, but with the assistance of leaders who are determined to promote research and development, and encourage business growth, our chances for success are greatly enhanced. We are very appreciative to Fairfield County for its early support of these plans."
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 Chairman 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 minimizing the release of 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.
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