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» February
8 , 2001
Testing Focuses on Generator Applications in Wake of California Power
Crisis
LOS ANGELES, Feb. 8 /PRNewswire/ -- Advanced Engine Technologies,
Inc. (OTC Bulletin Board: AENG) announced today that development of
its OX2 internal combustion engine is moving toward its first commercial
application, with testing of commercial generator prototypes scheduled
for the second quarter of this year.
The OX2's reduced size and weight, along with its fuel-efficient package,
offers a cost-effective alternative in the face of recent stage 3 power
alerts and threats of partial blackouts in California. As the state's
largest utilities have been prevented from passing along power cost
increases, it has become necessary for the state to buy supplemental
power from outside sources.
"The OX2 engine is significantly smaller and lighter than a normal
internal combustion engine," says AET Director Richard Ronzi,
recently elected to AET's board of directors following 38 years at
Ford where he served as Director of Powertrain Research. "Our
engine offers flexible fuel burning capabilities. It can burn a variety
of fossil fuels, including natural gas, liquid propane gas or methane.
In addition, the OX2 has half the moving parts of the typical internal
combustion engine, making it a less expensive engine to manufacture
and maintain." Ronzi continues, "The OX2 has several advantages
over the gas turbine engines that are being over excitingly promoted."
The 4-stroke OX2 is just 12.8 inches in diameter with a width of 6.9
inches and weighs a mere 120 pounds. With its higher power to weight
ratio, multi-fuel capability, low emissions and fuel-efficiency, the
OX2 has a practical and much needed application in the commercial and
industrial generator markets. Additional applications may include marine,
light duty farm and construction equipment, light aircraft, and as
a possible long-term solution in the hybrid electric vehicle market,
however the focus remains electrical generator applications in the
near term.
Racing legend Carroll Shelby currently serves
as AET President and supervises the OX2s rigorous 16-point test and
development plan. "Presently,
we are in the performance testing phase," says Shelby, "we
are advancing the OX2 engine's development so that we can produce the
right amount of horsepower and torque, while achieving fuel and emission
efficiencies that will allow us to be competitive. With Dick Ronzi
now on board, he will take an active role in the oversight of the OX2's
development plan."
Shelby continues, "An internal combustion
engine is more cost effective and more efficient than the gas turbine
generator currently being hyped in the market. This positions the
OX2 as the logical alternative."
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.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This release may contain forward-looking statement 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
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 technological 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 Security 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.
SOURCE: Advanced Engine Technologies, Inc.
CONTACT: Jeff Perlman of JMPR, Inc., 818-992-4353, jperlman@jmprpublicrelations.com,
for Advanced Engine Technologies, Inc.; or John Luft of Advanced Engine
Technologies, Inc., 310-914-9599
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