Cyclone Power Technologies (Pink Sheets: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it will expand the size of its facility by 30% beginning this month, and may draw from the manpower of the dismantled Florida space program.
Question is, will it be enough to make a difference for those folks who lost jobs from the retiring of the space shuttle?
Also, will Cyclone Power Technologies (Pink Sheets: CYPW) stock, which is regarded as a penny stock, and which has erupted from its base in March, be enough to finally raise the stock price to a higher level? At present, it is trading at the 32-cent price level.
According to the media release, the company will utilize the additional space, for which it recently signed a multi-year lease, to strengthen its engine development capacity.
"We are a company at a point of positive inflection in which we are transitioning from research and development to fulfilling purchase orders for pre-production engines," stated Christopher Nelson, President of Cyclone. "The additional space, capacity and personnel are key steps to handling this growth. It's a very exciting time to be part of Cyclone."
In addition to expanding its work space, Cyclone is also in the process of hiring more mechanical engineers and skilled technicians. It makes sense that some are expected to come from the dismantled Florida space program.
For the record, Cyclone has a current backlog of orders for prototype engines valued at approximately $2 million. Two-thirds of these contracts have been received in the last three months, including those from Raytheon Company (NYSE: RTN) and international industrial equipment manufacturer CombiLift .
Cyclone anticipates that these initial orders will lead to future production engine purchases, as well as contracts and licenses from new customers.
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 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.
In addition, the Cyclone-Willams team has developed a specially designed USLSR Engine as a non-condensing variation of the Mark V automotive engine, offering 180 HP by utilizing a double combustion chamber system. The run for the land speed record at the Bonneville Salt Flats is expected to occur in August, 2011. The current record for a steam vehicle is 148.308 MPH which was achieved in 2009.
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.
[Full Dislosure: Frank owns shares in this company as part of his long-term IRA investments]
About the Reporter: After 39 years in the auto industry as a design engineer, Frank Sherosky now trades stocks, futures and writes articles, books and ebooks like, "Perfecting Corporate Character," "Awaken Your Speculator Mind", and "Millennial World Order" via authorfrank.com. He may be contacted here by email: [email protected]
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