POMPANO BEACH, FL, February 1, 2018, Cyclone Power Technologies, (OTCPK: CYPW) Cyclone Power Technologies today announces that it has received a binding Letter of Intent to purchase 20% of the company in the form of non-dilutive preferred A stock. The equity will be given in the form of non-dilutive Preferred A shares and currently will have no adverse effect on the outstanding common stock. The company has entered into a 180 day due diligence period. Cyclone will continue to receive monthly installments from the investor group which will be applied to the purchase price. After the Due Diligence period, Cyclone will continue to receive the balance of the $5,000,000 for the 20% equity position in the company.
Funds received during this period will be used to bring Cyclone’s engines and products to production. There will be preset milestones better outlined in subsequent agreements. Cyclone will also use funds to increase their Intellectual Property with new and innovative patents to revolutionize the Microgrid market.
In the course of next few months the investors and Cyclone’s management team will evaluate Cyclone’s new 1 Megawatt Solar Powered Electrical System with 72 hour solar thermal storage product entry for the global Microgrid market. Cyclone’s role is more identified in this detailed 22 minute YouTube presentation:
Together, we will be working on establishing a customer base and it is projected that all of Cyclone’s technologies will become a major force in the worldwide market. “We have had many meetings and conversations with the investors, their engineers, and affiliates, and have no worries going into the due diligence period” stated Frankie Fruge, President of Cyclone. This is the opportunity Cyclone has needed to get our engines and products into production. Cyclone has always worked on a minimum cash flow and now that monies aren’t an issue, we can ready the first engines for manufacturing” states Fruge. The investors have ownership interests in several other Companies that have synergies with Cyclone’s products. “With this major infusion, bringing the Cyclone engines to production within 6 months is 100% achievable and we are looking forward to finally bringing our goals to fruition.” states Frankie Fruge.
The investor will also help identify new board members to assist Cyclone in the growing markets. They will assist in marketing, associated technologies, installations and integration.
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 a 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, was included in a 2011 report by Popular Mechanics as an important waste energy technology for the future, and was twice presented with the Society of Automotive Engineers’ AEI Tech Award.