Large amounts of energy dissipation are possible from a perfectly elastic material, cyclically deformed reel to reel, due to thermodynamic free expansions and contractions of the elastic material, (much like the throttling of a gas), rather than from internal or external friction. The objective of this work is to demonstrate that when the above principle is utilized, numerous applications are possible for elastomers as energy dissipative and storage devices including the following: torque control devices such as tension or torque controllers, and torque converters which can be used in automobile drive systems instead of friction clutches or differential gear assemblies. Using many steps in the stretching and contraction process can significantly minimize dissipation and create elastic energy storage devices. Such devices are employed as regenerative brake devices and mechanical energy batteries that are used in applications where modest amounts of energy are required. Current work also involves the design of thermomechanical heat engines, a simple device that utilizes heat input and obtains mechanical work output.