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New And a slight internal inconsistency
From the link above:
the highest efficiency operating engine is the Stirling, also a heat engine. Due to its relatively constant speed and low power however, it is not suited for transportation

From http://zedengines.com/company-profile/
The ZED engine concept was first conceived in 1992 as the advancement of a NASA/DOE heat engine study (MTI Report #91TR15)

and the subject of MTI #91TR15?
The development and verification of automotive Stirling engine (ASE) component and system technology

So the thing is based on a design they themselves claim has already been written off as unsuitable for its stated purpose after extensive research.

(Me thinks "patent troll" will be the modus operandi as they also state explicitly they are not planning on actually producing anything.)
New "Patent troll" sounds about right!
No real innovation in sight.

"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."

-- Isaac Asimov
New money is to be made from licensing the technology so partially correct.
"Science is the belief in the ignorance of the experts" – Richard Feynman
New Looks like they reinvented the steam engine
They claim two assigned patents, but I could only find one:

Burn* fuel external to the engine and use the resulting heat to vaporize a liquid. That vapor is then directed into the engine to produce mechanical work. Someone is channeling James Watt...

* using a "hydrogen flash vaporizer". Ask NASA for details.

Preferred fuel: liquid hydrogen. Preferred propellant: water/ammonia mix.

The hydrogen part is pretty much a no go for road use. LNG/LPG may be a fall back position but the energy density is only ~40%/30% that of hydrogen.

(And I can't see too many takers of conversion kits for 4T engines. You want ye olde steam train push/pull cylinder design for maximum efficiency.)

I'll stick with the troll assessment. This patent is vague (burn some fuel to vaporize some liquid to make some engine work.) Combined with the threat of run-on patents, it applies to anything attempting to use said hydrogen flash converter (an item which by itself dates back to 1978...)
New pretty much :-)
I would need to see a working model. May be a lot like the 3 wheel vehicle that was all the rage a few years ago and hasnt shipped one unit yet.
"Science is the belief in the ignorance of the experts" – Richard Feynman
     zed engines - (boxley) - (10)
         No detail at all on how it works -NT - (drook) - (9)
             Smell scammy to me - (Another Scott) - (8)
                 Here's what twigged the BS-o-meter - (drook) - (7)
                     Thermodynamics IS abstruse, not easily grokked-to-Fullness™ by us amateurs; - (Ashton)
                     Existing makers already know how to use the waste heat. - (static)
                     And a slight internal inconsistency - (scoenye) - (4)
                         "Patent troll" sounds about right! - (a6l6e6x)
                         money is to be made from licensing the technology so partially correct. -NT - (boxley) - (2)
                             Looks like they reinvented the steam engine - (scoenye) - (1)
                                 pretty much :-) - (boxley)

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