CALGARY, Alberta, Aug. 14, 2006 (PRIMEZONE) -- Clean Power Technologies Inc. (OTCBB:CPWE), a developer of a unique and environmentally friendly alternative hybrid fuel technology, is pleased to advise shareholders and the investment community that substantial progress has been achieved in the design and development of the special components required for the implementation of this new hybrid technology on a current production vehicle. Clean Power also recently moved into its new state of the art facility and has added two additional specialists to its engineering team.
With the progress made to date it is anticipated that by the fall (autumn) of 2007 the planned hybridized Mazda RX8 vehicle will be ready for road use. The first of the two planned donor vehicles was purchased in April. Once the fully functional developmental unit is complete, a second identical vehicle which has already been ordered will be similarly modified with the hybrid power train. This second vehicle will be used for promotional demonstrations and ready as early as the autumn of 2007.
"The current rising price of oil is compelling the public to consider the efficiency of the vehicle they currently use and those they intend to buy in the future. Furthermore, the anxiety society now feels about pollution of the environment, on both a global scale and at the local level, is creating consumer demand for both alternative and hybrid technology," said Abdul Mitha, CEO of Clean Power Technologies Inc. He went on to say, "The current automotive rule of thumb is that one third of the energy from fuel produces useful work, one third is transferred to the cooling system and lost, and one third is lost through the exhaust pipe. Our technology can save up to one third of the waste heat and this translates into realistic fuel savings of up to 30-40% of current levels combined with cleaner emissions."
Clean Power has expanded their engineering team of specialists. The latest additions are a Robotic Engineer and a Control System Specialist; this is in addition to the current dedicated team of 5 Professional Engineers, which consists of a Mechanical Vehicle Integration Specialist, a Thermodynamic Specialist, an Engine Management Electronics Specialist, a Vehicle Systems Specialist, and a Graphics Designer & Vehicle Builder. The recent addition of these specialists has strengthened Clean Power's development team and will provide significant expertise to enhance the development and implementation of this unique hybrid fuel technology.
Clean Power Technologies Inc. is also pleased to inform investors that effective July 31st, the company moved into their own Development facility. The new state of the art facility is located in England and is completely outfitted with full computational support with Computer Aided Design 3D Modelling software, a fully automated Engine Test Dynamometer. The Company feels that at this strategic time in the development and implementation of their hybrid technology, plus the progress which already has been achieved, that it became a necessity to have their own facility.
This press release is available on the Company's official online Investor Relations HUB at http://www.agoracom.com/IR/CleanPower for investor questions, answers and monitored commentary. Alternatively, investors are able to e-mail all questions and correspondence to CPWE@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
About Clean Power Technologies Inc.
Clean Power is engaged in research and development to enhance the thermal efficiency and effectiveness of power generation for all forms of transport by hybridisation, from the light car, through the heavy truck to railway locomotives. The heart of the technology under development by Clean Power is the CESAR process using Clean Energy Storage And Recovery. In this the problems of the electric battery are avoided by using otherwise wasted heat to generate pressure in saturated water and then recovered as required by allowing vapour to form and expand through a suitable auxiliary engine. Coupling such a process with the most modern principles of electronic control of speed and power enables high efficiency joint operation of a combustion engine and the auxiliary power plant driven from the storage source where this is permitted and by the auxiliary alone for a limited duration. Clean Power plans to develop and commercialize this technology.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in current and periodic reports and other documents filed by Clean Power Technologies with the U.S. Securities and Exchange Commission. Clean Power Technologies undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.