FreeDOS-32 (or FD32 for short) is a 32-bit operating system under development for the IA-32 (also known as i386) platform, distributed under the terms of the GNU General Public License.
Its MultiBoot compliant minimal core aims to allow total control and full customization, providing a default protected mode environment as simple as possible: no memory protection, no paging and no multitasking, even no file system. Features can be added by loading appropriate modules or drivers.
It could be a good environment for running DPMI applications, but also for developing embedded systems based on low-cost x86 boards.
This seems a good project, but I was unable to boot the provided image because it caused the virtual pc emulator to crash (no time to try on qemu or vmware)