POMPANO BEACH, Fla.--(BUSINESS WIRE)--Cyclone Power Technologies (OTCQB: CYPW) developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has signed a Teaming Agreement with Enginuity Energy LLC, an innovator and manufacturer of biomass gasifiers. Under this agreement, the parties have joined forces to pursue government funding and commercial applications for distributed biomass-to-power systems that will utilize both companies’ patented technologies.
By combining the technologies, expertise and commercial opportunities of Cyclone and Enginuity Energy, the Teaming Agreement is meant to support the development and advance the commercialization of a modular 35kWe to 250kWe biomass-to-power generation system. Enginuity Energy’s patented, scalable Ecoremedy® technology converts both high and low quality biomass (i.e., high moisture, high ash content) into thermal energy that can be used to power Cyclone Engines. The integrated system is expected to provide commercial, agricultural, industrial and governmental customers worldwide with an affordable solution for waste disposal and distributed renewable energy production.
Christopher Nelson, President of Cyclone, commented: “We’re very pleased to team with Enginuity Energy to advance the development of distributed biomass-to-power systems utilizing Cyclone Engines. Forming synergistic partnerships with companies that can provide heat or fuel solutions from waste and renewable resources is the essence of our business model, and is one of the best uses for our compact external combustion engine. For both our shareholders and future customers, this alliance with Enginuity Energy is an important step forward in the process of commercializing our technology for practical, much needed applications.”
David Mooney, President and CTO of Enginuity Energy, commented: “There is incredible demand for small-scale biomass systems that allow power to be produced on-site where the waste is created. These include farms, factories, hospitals, military bases and villages throughout the world. We are excited to be working with Cyclone because we believe they have the perfect technology for these applications. We look forward to a long and successful working relationship.”
Each of the parties to the Teaming Agreement will retain ownership of their individual patents and intellectual property. The combined generator unit may be marketed, sold and branded by either party, depending on the specific customer and application. Cyclone and Enginuity Energy hope to have a demonstration system operational by the end of the year, utilizing Cyclone’s WHE-25 and Mark V engines, which are currently in late prototype stage.
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 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 the Society of Automotive Engineers’ AEI Tech Award in 2006 and 2008. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Follow Cyclone on Facebook: http://www.facebook.com/CyclonePowerTechnologies
About Enginuity Energy
Enginuity Energy is a world-class engineering and technology firm, delivering small to medium scale biomass energy and nutrient recovery solutions. The company is a product of the merger between rem Engineering and Enginuity Energy LLC. Its foundation is built on 30+ years of power plant design and implementation. Projects include designing, engineering, and implementing energy production solutions to meet the varied energy needs of clients ranging from small agricultural feed mills, poultry integrators, industrial manufacturers, food processing plants, institutional campuses, and leading U.S. utility companies. The patented Ecoremedy® gasification technology cleanly and economically converts agricultural and industrial waste into heat and steam for industrial processes and power generation. The technology also delivers a stream of high nutrient value ash useful as fertilizer. The company maintains robust R&D, developing “patent layers” to extend the life of the Ecoremedy® competitive position and churn out related innovations for application in the heat and power space. Ecoremedy® is the only gasifier on the market capable of converting 98+% of the carbon in untreated high moisture/high ash feedstock (such as poultry litter) to useable energy while maintaining the availability of over 90% of the fuel’s inherent nutrients for reuse (approximately 2x that of incineration ash).
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.