RPI CLOSES PRIVATE PLACEMENT FINANCINGS

WITH U.K. INVESTMENT GROUP



"Wood-Ridge, New Jersey, Tuesday, May 14, 2002 – Rotary Power International, Inc. (“RPI”) today announced that it has recently closed a private placement financing with Tanelorn Investments Limited (“Tanelorn”) of Guernsey in the Channel Islands, United Kingdom, pursuant to which Tanelorn purchased 700,000 restricted shares of RPI common stock for a purchase price of $175,000. This financing follows a prior private placement financing completed in February of this year in which Tanelorn purchased 1,400,000 restricted shares of RPI common stock for a purchase price of $350,000. Tanelorn having increased its investment to 2,100,00 shares now owns approximately 9.2% of the outstanding common shares of RPI. The proceeds from these two financings with Tanelorn have been, and will be, used by RPI for the payment of various operating expenses and other general working capital purposes. All of the shares of RPI common stock purchased by Tanelorn in these financings are “restricted securities” for purposes of the Securities Act of 1933, as amended.

A Director of Tanelorn, stated: “During the last two years and in particular the period subsequent to September 11th, many people and their businesses have been badly affected by the (somewhat understandably) depressed and cautious sentiment of the markets. The demise of many internet and telco stocks has for many (especially in the venture capital community) signaled a period during which they have decided to ‘sit on their hands’. For Tanelorn, RPI represents what many investors regard as a ‘flight to quality’, being built as it is on the strongest of foundations, and possessing products and IPR (intellectual property rights) that can only be regarded as ideas whose time has come. Over the next three years, we fully expect to see major changes in the marine engine and power generation sectors. These changes will come about as a direct result of the introduction of RPI’s vastly superior technologies, and the realization of their competitors that RPI is holding all the cards with respect to power–to-weight ratios, MTBF (mean time between failure) and MTTR (mean time to repair), compact size, multi-fuel capability and astonishingly low (near zero) structure-borne noise. Add all of this to competitive pricing, and it’s easy to see why we invested.”

About RPI

With over 50,000 hours of test data and proprietary process knowledge accumulated over many years of research and development, RPI is the foremost originator and holder of intellectual property rights relating to industrial scale rotary engines in the world today. RPI is internationally recognized as the leader in the field of heavy fueled rotary engines, especially the Stratified Charge Omnivorous Rotary Engine (SCOREÔ) configuration. "

http://www.rotarypowerinternational....20Releases.htm

 

Check the SAE archives. Mazda researched stratified charge LONG ago. It suits the rotary because the combustion chamber moves past the injector as it spins. To this day I don't know why they never went with it

-pete