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Press Releases
» May
6 , 2002
Advanced Engine Technologies Steps Up Testing of
The OX2 Engine After Recent Positive Test Results
Updated: Monday, May 6, 2002 09:01 AM ET
LOS ANGELES, May 6 /PRNewswire-FirstCall/ -- Advanced Engine Technologies,
Inc. (OTC Bulletin Board: AENG) today announced that it has successfully
completed early phase testing of its innovative OX2 internal combustion
engine. During testing, its OX2 test engine #2 created 135 lb ft of
torque, resulting in 16.8 horsepower at 650 rpm -- one-third the typical
operating speed of traditional internal combustion engines.
"We are very encouraged and excited about the numbers we are
seeing from our recent tests," says Carroll Shelby, President,
Advanced Engine Technologies. "The OX2 test results were based
on less than one-half the engine's throttle position and has powerful
implications in the areas of reduced wear on engine parts and reduced
fuel consumption, resulting in better fuel economy."
The early phase testing also allowed AET to identify airflow issues
with the OX2 block. Design modifications to the engine's inner block
have been made to improve airflow and increase compression. The re-cast
blocks will be retro-fitted to the current OX2 engines and are expected
to result in increased overall power.
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.
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-tern solution in the hybrid
electric vehicle market, however the focus remains electrical generator
applications in the near term.
Investor inquiries can be directed to the company
at (310) 914-9599. 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. Additional information pertaining
to the OX2 engine can be accessed through the company's 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.
SOURCE: Advanced Engine Technologies, Inc.
CONTACT: Nicole Girkey or John Ewert
of JMPR, Inc., +1-818-992-4353, for Advanced Engine Technologies, Inc.;
or John Luft of Advanced Engine Technologies, +1-310-914-9599
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