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Press Releases
» January
3, 2002
Advanced Engine Technologies Inc. Updates Shareholders
With OX2 Development Advancements
LOS ANGELES, Jan. 3 /PRNewswire/ -- Advanced Engine Technologies,
Inc. (OTC Bulletin Board: AENG) today announced that inventor and developer
of AET's revolutionary OX2 engine, Steven Manthey, has joined the company's
board of directors. Manthey will oversee on-going product and applications
development of the OX2 engine.
"We're excited to have Steven Manthey join our board of directors," John
Luft, chief operating officer, AET, said. "Manthey's knowledge
and insight of the OX2 engine will greatly assist AET in its on-going
marketing and development efforts."
Manthey joined the board by unanimous written consent prior to the
company's annual shareholder meeting in November. At the same meeting,
shareholders reelected board members, ratified and approved the annual
audit and the board announced its annual business results. Following
the formal portion of the meeting, shareholders toured the OX2's test
facility and saw firsthand a run-time demonstration of the engine.
The OX2 is a 4-stroke, 41.36 cubic-inch internal combustion engine
17 inches in diameter with a length 13 inches and a total weight of
a 125 pounds. 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.
The OX2 engine also has half the moving parts of other types of engines,
which means less wear and tear and reduced maintenance costs.
In recent months, AET has made progress in optimizing the OX2's fuel
and ignition systems, resulting in increased torque. The company is
currently engineering the most efficient and performance enhancing
porting configuration and has made modifications to the cylinder ports
improving the OX2's volumetric efficiencies thus allowing a greater
airflow. As AET continues to make progress and reaches its performance
and endurance testing thresholds, the company will validate the test
results and subsequently published these results.
"Our goal is to have the OX2 ready for commercial use within
18 to 24 months," Luft said. "We are advancing the OX2 one
RPM at a time, we are assured that each step leads us to our objective,
which is the commercialization of the OX2 engine."
To update the investment community and all interested parties about
the progress of the OX2 engine, Advanced Engine Technologies has established
a hotline at (310) 323-2895. To view the OX2 engine or for additional
information, click your browser to the company's Web site at www.ox2engine.com.
SOURCE: Advanced Engine Technologies, Inc.
CONTACT: Nicole Girkey or Josh Schneider of
JMPR, Inc., +1-818-992-4353, for Advanced Engine Technologies, Inc.;
or John Luft of Advance Engine Technologies, Inc., +1-310-914-9599
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