RE: Help neede identifying this engine
Yep, it's a Ryobi. Almost surely a 31cc. (They made a 28 and a 31cc, but the 28cc had smaller top fins on the head.) Moderate performance. You'll need to add a larger carb and free flowing exhaust. 16 x 8 or 18 x 6 are good size props. E-85 won't work for glow however. (Been there tried that.) It's made of ethanol. The glow plug needs methanol to catalyze. There is a long thread about glow operation of these motors here in the engine conversion forum. Lot's of info.
Good luck,
AV8TOR