It's hit and miss governed, so the governor holds the exhaust valve open so the engine "free wheels" until the rpm drops and the latch releases closing the exhaust valve. This allows the 4 stroke cycle to take place and the exhaust will latch again after the engine fires. Highly popular turn of the century until the 1940s, while power inefficient they are highly fuel efficient.
It's a type of governor, to stop the engine from over-revving. Without it the engine would rev much too high and blow up. All stationary engines have a governor of some type to control the engine speed when it's not under load. Most common governors now are a centrifugal type that controls the throttle opening to keep the speed constant. Absolutely vital.
@@brucerogermorgan2388not strictly true, there are quite a few old engines without a governor and you can control the speed with the air fuel mixture. My old Tom Senior simplex and the little unknown 2 stroke I have are examples of engines like this.