As part of the agreement signed between the two, Great Wall will develop a production prototype of Cyclone's biomass-to-power generator system. In addition, until Cyclone completes tests of the Mark V engine in the US, Great Wall will develop the larger 95hp Mark V engine for electric power production by late 2010.
"The protection of our technology in China is a critical component of this license," Frankie Fruge, Cyclone COO said. "We have spoken with many of our shareholders after the announcement of our letter of intent with GWAPS, and have implemented some very strong procedures to secure our intellectual property."
"But in the end, it is the quality and character of one's partners in China that matters the most, and with the Great Wall team, we feel very confident in their integrity, professionalism and engineering abilities to get our engines to market quickly."
"Great Wall Alternative Power Systems sees this innovative biomass-to-power generator system as the first piece in a long and fruitful working relationship with Cyclone Power," Robert Devine, GWAPS managing director added.
"The Chinese government has set an installed capacity target of 30GW of biomass-generated power by 2020, with expected investment approaching US$30 billion. If Cyclone and GWAPS can deliver the first reliable, cost-effective distributed biomass power solution as part of this rollout, the market is basically endless."
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