By TM diesel engine demonstration prototype.
Following completion of the complex drive shaft (see news release dated November 22, 2011), the company is in a favourable position to estimate all remaining fabrication tasks leading up to the assembly and test phases.
Robert Grisar, Vice President of Engineering for REGI U.S., Inc. said, "Now that we have completed fabricating each of the most critical components we can use the dimensions and tolerances to specify the requirements of the remaining component interfaces."
The status of the remaining fabrication tasks, which represent the balance of the fabrication, is as follows:
- Rotors: Remaining operations for each rotor include drilling the final tight tolerance turns and other finishing operations. (Refer to company news release dated May 18, 2011.)
- Cam: Remaining operations for each cam include final surface grinding and polishing, final milling and boring to insert other machined features. (Refer to company news release dated August 15, 2011.)
- Rotary Union: Work is complete. (Refer to company news release dated September 29, 2011.)
- Driveshaft: Work is complete. (Refer to company news release dated November 22, 2011.)
- End plates: Remaining operations for each end plate include cutting air and water plenum holes, final milling and bore.
- Stator frame: Remaining operations for the stator frame include final milling and bore.
- Enclosure: Remaining operations for the enclosure include standard machining operations to mount latches and catches.
- Oil coolers: Material has been received. Initial machining work is the next step.
- Bearings: Material has been received. Initial machining work is the next step.
- Air and Water Flanges: Initial machining work is the next step.
- Gaskets for air and water flanges: These will be sent to vendor who already produced and delivered other gaskets for us.
- Nameplates: Fabricating and plating the nameplates. Initial machining work is the next step.
The Company has received a quote to complete the fabrication of the RadMaxTM diesel engine for a total of $139,783.65 as follows
Cost to Complete Estimate (Fabrication Only) | |||
Williams and White (majority of Fabrication) | $74,404.32 | (Quote) | |
Associated Spring | $6,070.00 | (Quote) | |
Path Technologies | $25,000.00 | (Quote) | |
McMaster - Carr | $1,409.33 | (Quote) | |
Plating | $2,500.00 | (Estimate) | |
Engineering | $30,000 | ||
Sales Tax and Shipping | $400.00 | (Estimate) | |
TOTAL | $139,783.65 | ||
Funds are planned to be raised through a private placement.
Following fabrication, we plan to build an assembly fixture. Once this fixture is fabricated and verified, the Company will perform the assembly operations followed by prototype dry (non-fuel) and fueled testing.
ABOUT REGI U.S., INC. AND REG TECHNOLOGIES INC.
Reg Technologies Inc. and REGI U.S., Inc. are developing for commercialization an improved axial vane type rotary engine known as the Rand CamTM/RadMaxTM rotary technology used in the revolutionary design of lightweight and high efficiency engines, compressors and pumps. The RadMaxTM engine has only two unique moving parts, the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine. This innovative design makes it possible to produce up to 24 continuous power impulses per one rotation that is vibration-free and extremely quiet. The RadMaxTM engine also has multi-fuel capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel. For more information, please visitwww.regtech.com or www.regiinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
REGI U.S., Inc. "John Robertson" John Robertson President | Reg Technologies Inc. "John Robertson" John Robertson President |
Contacts: | REGI U.S., Inc. and Reg Technologies Inc. John Robertson, 1-800-665-4616 |
Statements in this press release regarding the business of Reg Technologies Inc. and REGI U.S, Inc. (together the "Companies'") which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect,including, but not limited to: the impact of competitive products and pricing, the Companies' dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Companies or develop or license other functionally equivalent technologies; financing requirements; changes in laws, rules and regulations applicable to the Companies and changes in how they are interpreted and enforced,delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Companies' actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in Reg Technologies' financial statements, management discussion and analysis and material change reports filed with the Canadian Securities Administrators and available at www.sedar.com, and its Form 20-F filed with the United States Securities and Exchange Commission at www.sec.gov, and REGI's Form 10-KSB annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Companies will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Companies or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Companies do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
| distribué par | Ce noodl a été diffusé par Reg Technologies Inc. et initialement mise en ligne sur le site http://www.regtech.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-30 19:58:32 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
