POMPANO BEACH, FL--(Marketwire - Dec 12, 2012) - Cyclone Power Technologies Inc. (OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that it has signed a Letter of Understanding with Carroll, Ohio based Precision CNC to establish a production center for Cyclone Engines. The Company and Precision CNC, who have been working together over the past three years manufacturing prototype parts, expect to complete their agreement in the first quarter of 2013 subject to the close of required financing.