Looks to be little different than a frequency inverter, where it takes 3phase power in and then converts it to another voltage and frequency. My guess without even looking at it, is that all or most of the output transistors are dead, when you can find them. There are three reasons for potting, one is to keep moisture out, and another is hide the circuit and lastly is to make it difficult to repair or copy. Depending on the material you might be able to soak it off, but if the material is the same epoxy that transistor and IC cases are made from or the board is made from it will not help you. Sometimes there is another way and that is to find a similar piece of equipment and buy it and swap parts to make one good working unit. Also seeing that there is the two grey wires that would be the field to the generator, and my guess is the stepper motor is what controls the throttle.
There are ways to get power out of it, but if you are willing it can be a learning experience. Common solvents are diesel fuel, Gasoline, Acetone, xylene, denatured alcohol, and so forth. Out of them Diesel is the safest, and soaking it might make the potting soft enough to break apart.