Cyclone Power Technologies signs Letter of Intent with Combilift
27 June 2011
Cyclone Power Technologies has signed a letter of intent with Ireland-based Combilift to develop and sell industrial material handling and lift equipment utilizing Cyclone engine technology. The Cyclone engine is a Rankine Cycle heat-regenerative external combustion engine.
The letter of intent was signed on 24 June. Combilift has provided a deposit in the amount of $25,000 to secure their position while the parties work to finalize their licensing agreement.
Founded in 1998, Combilift builds and sells industrial material handling equipment, including specialized lifts and multi-directional side-loaders; its products are sold in more than 50 markets worldwide.
Facility owners are in desperate need for cleaner burning, more fuel efficient and more powerful materials handling equipment for indoor use. We believe that the dynamics of Cyclone engine can provide just that perfect combination of power and clean energy efficiency.—Robert Moffett, President of Combilift