Cyclone Power Technologies Inc. (OTC PINK: CYPW), developer of the all-fuel clean-tech Cyclone engine, has signed an exclusive engineering development agreement with Falck Schmidt Defense Systems of Denmark, the company said.
This agreement provides for the development over the next six months, of a militarized 10 Kw auxiliary power unit (APU) for worldwide military applications. FSDS will be the exclusive worldwide distributor for both military and aerospace power applications.
The exclusive engineering development agreement calls for an initial engineering fee of USD225,000. Other license fees will be agreed upon within the next 90 days. The statement of design work and critical path calls for the building of two systems to be built at Cyclone´s offices. These will then be taken to FSDS for militarized testing. FSDS engineers will assist Cyclone in the necessary changes to the basic Cyclone 10 Kw system to make it applicable to military standards. The exclusive engineering development agreement allows FSDS the rights to build and sell the Cyclone powered systems exclusive to all military and aerospace worldwide as our representative and pay cyclone a license or royalty fee.
Falck Schmidt Defense Systems (FSDS) is a supplier and prime contractor within the Danish industry complex.
Cyclone Power Technologies Inc. is the developer of the Cyclone engine, an eco-friendly external combustion engine.