Apr 22 2009
Cyclone Power Technologies (Pink Sheets:CYPW) has signed a license agreement with Waste Heat Resources, Inc . (WHR) of Londonderry, New Hampshire.
Under the agreement, WHR will provide Cyclone with licensing fees, royalties and engineering expertise in return for the rights to develop waste heat power solutions utilizing the award-winning Cyclone Engine technology.
In the initial stages of the agreement, Waste Heat Resources will assist Cyclone in adapting its flagship "Mark V" automotive engine, currently in development, to generate power from exhaust heat captured from industrial ovens, furnaces and similar equipment. The patented Cyclone is a cost-effective, heat regenerative Rankine cycle (steam) engine , also known as a Schoell Cycle Engine . To be used as a waste heat engine (WHE), the parties will collaborate to develop specialized heat exchangers and condensers to work in these industrial applications.
Waste Heat Resources then plans to integrate the customized WHE Series Cyclone engines into its proprietary heat recovery, electric power generation solution -- the WHR Energy Forge -- which it expects to start beta testing soon. Overall, WHR has pledged to Cyclone $500,000 in license fees over the following 12 months, engineering and operating assistance, and royalties from the future installations of their Energy Forge systems throughout North America.
"We are thrilled to be joining forces with Cyclone. We believe that 'green should be green', and that our solutions will have a profound effect on our environment as well as our clients' bottom line," stated Waste Heat Resources COO, Carl Mueller. "Our engineers have searched for this co-generation solution for seven years, and we feel it is especially appropriate to be making an announcement of this importance on Earth Day 2009 ."
Waste Heat Resources is comprised of industry veterans with over 35 years experience in designing, developing and installing industrial electrical and automation systems. These principals are well versed in high temperature gas-fired furnace operation, an expertise that will play a key role in recycling the vast amounts of heat that commercial and industrial facilities waste into the atmosphere each year.
"We are pleased to be working with WHR to develop this line of our business," stated Frankie Fruge, Cyclone's COO. "The goal of creating energy efficiencies for our businesses, our nation and our planet is of critical importance, and we see the Cyclone as the one engine that can do just that."
"Now that we have secured this license, we are moving quickly to manufacture the engines and integrate them into our Energy Forges," Mueller said. "We are currently evaluating qualified beta test sites to prove up our systems' capabilities."
http://www.cyclonepower.com