Cyclone Power Signs LoI with Combilift
Ireland-based Combilift sells industrial material handling equipment, including specialized lifts and multi-directional side-loaders. Its products are sold in over 50 markets worldwide with the strong international network of distributors.
Combilift has provided a deposit in the amount of $25,000 to secure their position while the parties work to finalize their licensing agreement.
Robert Moffett, President of Combilift, commented, â€œOur company was founded on bringing new concepts and unique, innovative designs to the international market. We see the integration of the Cyclone engine into our current and future products lines, as an extension of this pioneering spirit.
â€œFacility 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.â€
Christopher Nelson, president of Cyclone, said: â€œThis Combilift agreement provides us with entry into a very interesting niche market for industrial equipment on a global scale. We think that partnering with this team of distinguished leaders in their unique equipment operating field presents a great commercial opportunity for Cyclone. We look forward to the beginning of what we expect to be strong and mutually beneficial relationship with Combilift.â€
Cyclone Power Technologies is the developer of 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.
Will the move commercially benefit the firms?
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