TMCnet News
Korea Approves Patent on Cyclone Power Technologies' Green EnginePOMPANO BEACH, Fla. --(Business Wire)-- Cyclone Power Technologies (Pink Sheets: CYPW) announced today that the Korean Intellectual Property Office has issued a notice of decision to grant the company a patent on its award-winning, heat regenerative external combustion engine. Cyclone's invention is a high-efficiency modern steam engine, capable of running on virtually any liquid or gaseous fuel, and creating far fewer toxic emissions than comparable internal combustion engines. The company is currently developing prototypes for use in automobiles, power generators, solar thermal installations and waste heat recovery (cogeneration) applications. "As well as demonstrating the uniqueness of our technology throughout the world, issuance of a patent in Korea is very important to the company from a business standpoint," stated Cyclone's COO and Director, Frankie Fruge. "We have received substantial interest for our technology in Asia, and we are making every effort to protect our intellectual property and the valuable assets of our company before entering into revenue generating licensing agreements in these territories." The patent in Korea marks the fifth international patent for Cyclone's engine. The company received patent protection for the engine in China, Russia, South Africa and Australia earlier in 2009, in the United States in 2006, and then on the engine's proprietary combustion chamber in the U.S. in 2008. The company has applications pending for other components of its engine in the U.S., and for the engine in virtually every industrialized nation. CORPORATE PROFILE Cyclone Power Technologies is the developer of the award-winning Cyclone Engine - an eco-friendly external combustion engine with the power and versatility to run everything from portable electric generators and garden equipment to cars, trucks and locomotives. Invented by company founder and CEO Harry Schoell, the patented Cyclone Engine is a modern day steam 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. Currently in its late stages of development, 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 recently named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com. 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. |
