Kojima Productions' Fox Engine was teased around this time last year, but we haven't heard much of it since then. Apparently, though, the engine is nearly finished and ready to be shown off next month at an event in Japan.
"Although the Fox Engine is not finished we are ready to show what it can do," Hideo Kojima told the PlayStation.Blog, "on August 30 in Japan to be more specific."
He also noted that the one thing holding the engine back the most right now is real-world use. "The only way to be sure it works is to create a game at the same time and improve the engine with our tools as we go along," he said. "Originally we were going to do this for Metal Gear Rising: Revengeance, but a lot happened along the way and instead it is being made with the engine they have at Platinum Games."
Project Ogre, an open-world game from Kojima, is likely to get its formal debut and perhaps an actual name at the same event.