Innodyn Production and Testing Update

During the past several months Innodyn has completed production and initial testing of our first ten full production engines. Overall results were quite positive with respect to engine operation but also indicated a need for additional detailed refinement and testing. Innodyn is conducting further evaluation and testing of individual components and intensifying our already rigorous testing program for each engine. Our position remains that we will deliver engines to the marketplace only when we have completed and validated a thorough testing regimen that meets industry standards and provides the safety levels we insist our customers deserve. To assist in this effort, we have recently engaged the services of Dr. Boris Glezer (see leadership) a world-class expert with over 35 years of experience in gas turbine technologies.

Based on projected schedules for the enhanced testing program and the development of expanded manufacturing capabilities, Innodyn estimates it will begin a consistent production schedule in 3 to 4 months.

(posted: 07/14/05)