Renovalia Energy, Cyclone Power Technologies sign license for solar thermal engines

POMPANO BEACH, USA: Cyclone Power Technologies (Pink Sheets:CYPW) has signed a license agreement with Renovalia Energy, S.A., based in Madrid, Spain. The signing of this license with one of the world’s leading companies in the field of alternative and solar power marks a major milestone for Cyclone and its award-winning technology.

Under the agreement, Cyclone will design with Renovalia a compact, high-efficiency Schoell Cycle external heat engine to be coupled with Renovalia’s proprietary thermoelectric solar stations.

The Spanish energy company plans to manufacture prototypes and then, if tests prove viable, production models of the engine, called Cyclone Solar I, which could be deployed worldwide with their solar stations within a year. The license provides for Cyclone to receive up-front design fees and on-going royalties for its engines.

Renovalia’s power portfolio currently produces over 500 MW of renewable energy, inclusive of solar, wind and hydroelectric projects in Europe and the Americas. Renovalia has built in Ciudad Real, Spain, the largest photovoltaic farm in the world, with total installed power of 49.7 MW.

In July 2008, Florida’s Governor Charlie Crist visited Renovalia’s massive solar farm project in Spain with a delegation from Seminole Electric Cooperative. At that time, the parties signed a letter of intent for Renovalia to build a solar plant in Florida.