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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Washington, D.C. 20549</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>FORM 8-K</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Date of Report (Date of earliest event reported): <B>August 8, 2008 [August 5, 2008]</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>CLEAN POWER TECHNOLOGIES INC.</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<TABLE cellspacing=0><TR><TD valign=top width=192><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Nevada</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(State or other jurisdiction</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>of incorporation)</P>
</TD><TD valign=top width=18>&nbsp;</TD><TD valign=top width=150><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>000-51716</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Commission</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>File Number)</P>
</TD><TD valign=top width=18>&nbsp;</TD><TD valign=top width=186><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>98-0413062</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(IRS Employer</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Identifica&shy;tion No.)</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>436-35<SUP>th</SUP> Avenue N.W., Calgary, Alberta, Canada T2K 0C1</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>&nbsp;(Address of principal executive offices) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip Code)</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>(403) 277-2944</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Registrant&#146;s telephone number, including area code</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Not applicable</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>&nbsp;(Former name or former address, if changed since last report)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>
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<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
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<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
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<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
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<P style="page-break-before:always; margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Forward-Looking Statements</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Statements in this Current Report on Form 8-K (including the exhibit) that are not purely historical facts, including statements regarding Clean Power's beliefs, expectations, intentions or strategies for the future, may be &quot;forward-looking statements&quot; under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. These risks and uncertainties include Clean Power's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in Clean Power's Securities and Exchange Commission filings. The forward looking statements in this Form 8-K speak only as of the date hereof, and Clean Power disclaims any obligation to provide updates, revisions or amendments to any forward looking statement to reflect changes in the Clean Power&#146;s expectations or future events. </P>
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<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Item 1.01</B></P>
<P style="margin:0pt; text-indent:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Entry into a Material Definitive Agreement</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>On August 5, 2008, Clean Power Technologies Inc. (&#147;Clean Power&#148; or the &#147;Company&#148;) entered into a Cooperation Agreement (the &#147;Agreement&#148;) with Voith Turbo GmbH &amp; Co., KG (&#147;Voith&#148;). &nbsp;&nbsp;The Agreement sets out the terms and conditions whereby the Company and Voith have agreed to cooperate in the integration of Voith&#146;s steam expander with auxiliary equipment, including &nbsp;feed pump into a waste heat recuperation system for driving cooling aggregates of refrigerator trucks in the U.S. and Canada out of the waste heat of the diesel engine of the truck. &nbsp;&nbsp;Each party shall nominate a project manager, who shall have responsibility for the development work. &nbsp;&nbsp;&nbsp;Any prior technical information and know-how shall remain exclusive to each of the parties to the Agreement. &nbsp;&nbsp;Any ongoing information developed from the project shall belong to both parties jointly. &nbsp;Each party shall have the right to use the jointly owned information, subject to any sub-licenses, which may only be granted subject to the other party&#146;s written consent and shall contain market standard royalties. &nbsp;Each party grants to the other party a royalty free, non-exclusive license to use its background information for the term of the project solely for the purpose of fulfilling its work under the development project. &nbsp;Each party shall grant to the other party a royalty free, non-exclusive license to use its ongoing information for the term of the project and solely for the purpose of fulfilling the work under the project. &nbsp;Any patent applications that may be filed as a result of the Agreement shall be jointly owned and each party shall be responsible equally for the costs of prosecution of said patents. &nbsp;Any party that does not wish to register a patent in a country where the other party does wish to register, or to cease paying annual fees for upholding a patent, he shall forth with inform the other party in writing. &nbsp;Any other party may then at his own discretion start or continue the prosecuting of the application or the payment of the annual fees and shall thereby become the sole owner of all rights in the patent without further payment to the other party. &nbsp;&nbsp;</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Item 9.01 Financial Statements and Exhibits</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>9.01 (d) Exhibits</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<TABLE cellspacing=0><TR><TD valign=top width=120><P style="margin-top:5.5pt; margin-bottom:2.75pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Exhibit Number</B></P>
</TD><TD valign=top width=360><P style="margin-top:5.5pt; margin-bottom:2.75pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Description</B></P>
</TD><TD valign=top width=24>&nbsp;</TD><TD valign=top width=132>&nbsp;</TD></TR>
<TR><TD valign=top width=120><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">10.1</P>
</TD><TD valign=top width=360><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Cooperation Agreement between Voith Turbo GmbH &amp; Co. KG and Clean Power Technologies Inc., executed by Clean Power Technologies Inc., &nbsp;August 5, 2008</P>
</TD><TD valign=top width=24>&nbsp;</TD><TD valign=top width=132><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Filed herewith</P>
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<P style="margin:0pt; font-family:Times New Roman" align=center>2</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<TABLE cellspacing=0><TR><TD valign=top width=343.2>&nbsp;</TD><TD valign=top width=294><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>CLEAN POWER TECHNOLOGIES INC.</B></P>
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<TR><TD valign=top width=343.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">August 8, 2008</P>
</TD><TD valign=top width=294><P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">By: <U>/s/ Abdul Mitha</U></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abdul Mitha </P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</P>
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<TR><TD valign=top width=343.2>&nbsp;</TD><TD valign=top width=294>&nbsp;</TD></TR>
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<P style="margin:0pt; font-family:Times New Roman" align=center>3</P>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 8, 2008 [August 5, 2008]
CLEAN POWER TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction
of incorporation)
000-51716
(Commission
File Number)
98-0413062
(IRS Employer
Identifica­tion No.)
436-35
th
Avenue N.W., Calgary, Alberta, Canada T2K 0C1
(Address of principal executive offices)               (Zip Code)
(403) 277-2944
Registrant's telephone number, including area code
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Forward-Looking Statements
Statements in this Current Report on Form 8-K (including the exhibit) that are not purely historical facts, including statements regarding Clean Power's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. These risks and uncertainties include Clean Power's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in Clean Power's Securities and Exchange Commission filings. The forward looking statements in this Form 8-K speak only as of the date hereof, and Clean Power disclaims any obligation to provide updates, revisions or amendments to any forward looking statement to reflect changes in the Clean Power's expectations or future events.
Item 1.01
Entry into a Material Definitive Agreement
On August 5, 2008, Clean Power Technologies Inc. ("Clean Power" or the "Company") entered into a Cooperation Agreement (the "Agreement") with Voith Turbo GmbH & Co., KG ("Voith").   The Agreement sets out the terms and conditions whereby the Company and Voith have agreed to cooperate in the integration of Voith's steam expander with auxiliary equipment, including  feed pump into a waste heat recuperation system for driving cooling aggregates of refrigerator trucks in the U.S. and Canada out of the waste heat of the diesel engine of the truck.   Each party shall nominate a project manager, who shall have responsibility for the development work.    Any prior technical information and know-how shall remain exclusive to each of the parties to the Agreement.   Any ongoing information developed from the project shall belong to both parties jointly.  Each party shall have the right to use the jointly owned information, subject to any sub-licenses, which may only be granted subject to the other party's written consent and shall contain market standard royalties.  Each party grants to the other party a royalty free, non-exclusive license to use its background information for the term of the project solely for the purpose of fulfilling its work under the development project.  Each party shall grant to the other party a royalty free, non-exclusive license to use its ongoing information for the term of the project and solely for the purpose of fulfilling the work under the project.  Any patent applications that may be filed as a result of the Agreement shall be jointly owned and each party shall be responsible equally for the costs of prosecution of said patents.  Any party that does not wish to register a patent in a country where the other party does wish to register, or to cease paying annual fees for upholding a patent, he shall forth with inform the other party in writing.  Any other party may then at his own discretion start or continue the prosecuting of the application or the payment of the annual fees and shall thereby become the sole owner of all rights in the patent without further payment to the other party.
Item 9.01 Financial Statements and Exhibits
9.01 (d) Exhibits
Exhibit Number
Description
10.1
Cooperation Agreement between Voith Turbo GmbH & Co. KG and Clean Power Technologies Inc., executed by Clean Power Technologies Inc.,  August 5, 2008
Filed herewith
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CLEAN POWER TECHNOLOGIES INC.
August 8, 2008
By:
/s/ Abdul Mitha
Abdul Mitha
Chief Executive Officer
3