Advanced Engine Technologies Inc. Seeks Additional Capital as It Reaches Final Development Stage of OX2 Engine
29 Avril 2009 - 10:54PM
Business Wire
Advanced Engine Technologies Inc., (Pink�Sheets: AENG) reported
that the company reached its final development stage of the OX2
engine as it has reached its performance objective of over 300 ft
lbs of torque along with 46 horsepower at an approximate operating
speed of 760 RPM.
Engineers continue work on the commercialization package of the
OX2 engine/generator with the fabrication of its finish enclosure
and footprint. In addition, AET engineers have prototyped a version
of the OX2 engine/generator operating in a vertical orientation.
This new vertical footprint reduces the surface footprint by 50
percent, allowing the majority of the OX2 engine/generator mass to
occupy vertical airspace, not floor space. The company expects to
demonstrate both its vertical and horizontal units in the
future.
On the heels of AET�s new vertical platform development will be
a new, smaller and more versatile power electronics unit. Upon
failure of its previous power electronics unit, an outside
electrical engineering firm was hired to write the new
specifications. The company is poised to proceed with the
production of two new power electronics units for fitment with the
OX2 engine/generators.
�The power electronics is the last mile of the OX2
engine/generator development,� said John Luft, Chief Operating
Officer of AET. �The OX2 engine/generator currently produces over
30 Kw of power, however it is raw power. This new unit will
condition the raw power and produce useable power for commercial
connectivity and use.�
In addition to the exciting engineering progress made on the OX2
engine/generator, the company has initiated efforts to raise
additional capital to fund the OX2�s 30 Kw Generator final
development stage.
The OX2 is a 4-stroke, 1.1-liter internal combustion engine that
is 17 inches in diameter with a length of 13 inches and a total
weight of 200 pounds in normally aspirated form. The compact engine
weighs 75 percent less than and is half the size of traditional
internal combustion engines. In addition, it offers the flexibility
of being able to run on a variety of fossil fuels including
gasoline, diesel, natural gas, liquid propane or methane. With far
fewer moving parts than traditional engine designs, the OX2 engine
could offer the further advantages of significantly enhanced
operation and maintenance costs and a longer useful life.
AET Seeks Additional Capital (2/2)
With its expected higher power-to-weight ratio, multi-fuel
capacity and anticipated low emissions and fuel efficiency, the OX2
has a practical and much needed application in the commercial and
industrial generator markets. Additional future applications may
include marine, light-duty farm and construction equipment, light
aircraft, and the hybrid electric vehicle market. However, the near
term focus remains electrical generator applications.
AET continues to follow direction from automotive icon Carroll
Shelby, whose automotive projects are legendary. The OX2 is based
on the same visionary thinking that vaulted Mr. Shelby and his
companies to the forefront of the performance industry.
Investor inquiries can be directed to the company at (310)
914-9599. Advanced Engine Technologies maintains a company web site
at www.ox2engine.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This release may contain forward-looking
statements involving risks and uncertainties that may cause actual
future events or results to differ materially and adversely from
those described in the forward-looking statements. Important
factors that may cause such a difference for AET include, but are
not limited to, whether our engine products are made viable,
whether a market for our products develops, our ability to retain
key management, our ability to hire and retain the technical
personnel necessary to build our products, the availability of
funding for future operating requirements, our ability to
effectively predict or react to rapid technology changes that could
render our products obsolete, product development delays,
dependence on suppliers, our potential exposure to product
liability and other tort claims if our products fail, our ability
to protect our intellectual property, intellectual property
disputes, and other factors discussed in AET filings from time to
time with the Securities and Exchange Commission. AET cautions that
the foregoing list of important factors is not exclusive. AET
disclaims any obligation to revise or update any forward-looking
statement that may be made from time to time by or on its
behalf.
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