Cyclone Power Technologies Inc. (OTCPK, CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has completed its Memorandum of Understanding agreement with Hypex Inc. of Southampton, PA.. The agreement is meant to establish a working relationship between a manufacturer and Cyclone Power Technologies to work as a partnership to produce and bring to market components and engines parts that Cyclone has developed for use in small systems around the globe.
The agreement between Cyclone and Hypex Inc. covers the: production and assembly of Cyclone’s components such as Heat Exchangers with control modules and burner assembles, small low pressure water/liquid positive displacement pumps capable of temperatures up to 212⁰F, high efficiency, low amperage and cost effective and high pressure water/liquid positive displacement pumps capable of 3500 PSI continuous duty.
Frankie Fruge, President of Cyclone, commented: “We are pleased to have entered into this understanding with our new partner Hypex Inc. This manufacturing agreement will allow Cyclone the ability to service our customers and inquires that we receive on a daily basis. In order to plan for the production of our engines we needed a solid partner with the experience and capital in place to launch us into the next phase of engine and component manufacturing. This is exactly what this agreement gives us. We have great faith in the Hypex Inc. team’s abilities and desire to make this partnership a great success.’
James Hasson, President of Hypex Inc., stated: “We welcome Cyclone and look forward to helping them commercialize this fantastic eco-friendly product. We believe that our capabilities from high quality prototyping to production level manufacturing will be a great benefit to the Cyclone technology. It is exciting to be part of this innovative product and get it into production.”
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 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 (Florida) Environmental Protection Department.