VANCOUVER, BC / ACCESSWIRE / March 3, 2015 / REGI U.S., Inc. (OTC Pink: RGUS) (PINKSHEETS: RGUS) (Frankfurt Stock Exchange: RGJ) and Reg Technologies, Inc. (TSX Venture Exchange: RRE.V) (OTC Pink: REGRF) (PINKSHEETS: REGRF) are pleased to report that based on recent successful testing of the new oil cooler design by Paul Porter, the Company's Chief Engineer, that it has issued a purchase order to EBCO Industries for 22 additional oil coolers. This will allow up to 375 hp rotary diesel prototype to be populated in all 24 slots.
Paul Porter Reports:
The new oil cooler design was tested in order to verify the new design. The first test results indicated that the vane seals were not being torn during installation and the leakage rate appears to be minimal.
The new installation tool works perfectly and allows for the insertion and removal of the vanes as many times as are needed with no detrimental effects on the vane seal.
The seals on the oil cooler performed as desired with no damage observed during the installation and removal of the oil cooler.
The seals appear to be working properly and create a sealed combustion chamber as needed for the engine.
Additional tests to commence on diesel engine working model:
- Additional static and dynamic testing will be performed in the test fixture to determine the best configuration of all seals. This will also give indication of the expected life of the seals.
- Additional oil coolers are being manufactured to allow the prototype to be populated in all 24 combustion chambers.
- Development of facility requirements to begin dynamometer testing of the prototype.
About Reg Technologies, Inc. And REGI U.S., Inc.:
Reg Technologies, Inc. and REGI U.S., Inc. are developing for commercialization an improved axial vane type rotary engine known as the Rand Cam(TM)/RadMax(TM) rotary technology used in the revolutionary design of lightweight and high efficiency engines, compressors and pumps. The RadMax(TM) 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 RadMax(TM) engine also has multitude capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel. For more information, please visit www.regtech.com or www.regiinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Reader Advisory:
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 expectation on closing the second tranche of the private placement, 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.
CONTACT:
REG TECHNOLOGIES, INC.
www.regtech.com
REGI U.S., INC.
www.regiinc.com
#240-11780 Hammersmith Way
Richmond, BC V7A 5E9
Phone: 604-278-5996 - Fax: 604-278-3409
Reg Technologies, Inc.
REGI U.S., Inc.
John Robertson
President
1-604-278-5996
SOURCE: Reg Technologies, Inc.