Medis El Acquires Revolutionary Automobile Technology
21 October 1998
Medis El Acquires Revolutionary Automobile Technology
JERUSALEM, Israel--Oct. 21, 1998--"Green" Internal Combustion Engine Registers
Energy Efficiency Never Before Attained
Medis El Ltd. ("the Company") announced today that it had entered into two option agreements giving it the right to acquire a majority position in companies owning patents and related applications pertaining to the Toroidal Internal Combustion Engine and Toroidal Compressor from the inventor, Victor Adamovsky and others.
The Toroidal Internal Combustion Engine, U.S. patent #5,797,366 issued August 25, 1998, is an extemely efficient and environmentally friendly engine. Its efficiency is expected to be better than that of the diesel engine and its operation to produce less pollution. At the same time, it will weigh less than half the weight of comparable combustion engines.
The inventor, Dr. Victor Adamovsky, is well known in his field. He received his Ph.D. in 1968 and has worked in Russia in senior positions in his field of heat and mass transfer before emigrating to Israel in 1994.
"This new transaction strengthens Medis El's position as a "greenhouse" for exciting new transforming technologies developed in Israel with particular emphasis on energy-saving products" said Robert K. Lifton, Chairman of Medis El.
"Automobile makers are heavily committed to developing small cars capable of traveling long distances on less fuel and having fewer environmentally harmful emissions. Our engineering studies have demonstrated that the Toroidal engine can uniquely satisfy all these needs. It weights 50-75 percent less than conventional engines and will enable mid-sized sedans to achieve 40 miles per gallon running at up to 90 miles per hour, thus exceeding the efficiency of a turbo diesel engine and producing much fewer noxious emissions.
"The patents also allow for a Toroidal Compressor which would offer 75 percent lower weight and size and substantially greater efficiency than present compressors.
"Prototypes of both the Toroidal Engine and Compressor are under development and expected to be available for worldwide demonstration within the next 12 months."
Medis El, founded in 1992, is an Israeli corporation involved in building a pipeline of proprietary products based on Israeli and former Soviet Union technology for exploitation by large international corporations. The Company's Energy Technology Division recently obtained a patent on its Synchronous Twin Piston Reciprocating Linear Compressor, a revolutionary and environmentally friendly synchronous twin piston compressor that has high-value applications in the fields of refrigeration and air-conditioning. The Company has recently announced that its subsidiary has acquired technology representing major advances in development of small fuel cells. In this division, the Company also has in development and has applied for patents for a Reciprocating Electric Machine that it expects will substantially reduce the cost of producing electricity.
This report may contain forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risk and uncertainties, including, but not limited to, the successful completion of product development, the success of product tests, commercialization risks, availability of financing and results of financing efforts. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC.
This release is available on The KCSA Worldwide website at www.kcsa.com.