GWAPSGulf War Air Power Study
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We see this innovative biomass-to-power generator system as the first piece in a long and fruitful working relationship with Cyclone," stated Robert Devine, Managing Director of GWAPS "The Chinese government has set an installed capacity target of 30GW of biomass-generated power by 2020, with expected investment approaching US$30 billion.
GWAPS Chairman Zhan Shan, a PRC national, previously founded several new energy ventures including China's first private municipal gas company as well as China's first technology developer of large-format lithium-ion batteries.
The Air Force did not commission the GWAPS until almost six months after Desert Storm ended.
The Army Air Corps supported the USSBS, and the USAF endorsed the GWAPS and AWOS but never published comprehensive postwar appraisals of the Korean and Vietnam Wars.
GWAPS has agreed to pay Cyclone $125,000 in development fees, an additional $400,000 in licensing fees, and then on-going royalties from the sale of Cyclone engines for use in electric power production in China.
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.
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.
GWAPS is very pleased to be working together with the Cyclone team on this opportunity.