Hideo Kojima Announces The New Fox Engine

During the Pre-E3 press conference from Konami, Hideo Kojima revealed his new game engine called the Fox Engine. He gave a small glimpse into what we can expect from this engine and revealed a few facts about it.
UPDATE: Now with video.

From the beginning, he made it clear that this engine is built to run on multiple systems. He used the Xbox 360 controller to show off a small tech build of the new engine. In the short demo, Kojima is controlling a character in a lush green forest with a horse eating in the background. Even though it is a small tech demo, it looks absolutely amazing. The graphics are crisp and clean and the character ran around flawlessly. I did not expect anything less from one of the best developers out there.