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Letter to Shareholders - 3rd Quarter CYPW
November 18, 2009
Dear Valued Shareholder,
It has been an exciting quarter for Cyclone Power Technologies, one in which we have made considerable progress from both a technology and business development standpoint. It is our pleasure to share some of the highlights with you today.
In the past quarter we successfully completed the development and performance testing of our first generation Mark II Engine, a two-cylinder external combustion engine designed for small scale electric power generation. These tests were performed under our Independent Research and Development (IRAD) contract signed last year with Raytheon Integrated Defense Systems, a business of Raytheon Company.
During a two-month period Raytheon IDS meticulously reviewed the findings and validated the results of our tests, in which we demonstrated that the Mark II Engine achieved thermal efficiencies of 30.75%. This figure matched our original engineering calculations, and to put it into perspective, exceeded the efficiencies of most similarly-sized internal combustion engines in the market today. Because of the success of our tests and the great potential Raytheon sees in our engines for military, homeland defense and other important applications worldwide, we have begun discussions with this $23 billion technology contractor regarding the next phases of a collaborative project slated for 2010.
We also completed development of a working prototype biomass-to-power generator in the third quarter, the first system of its kind capable of allowing homes, farms and small commercial enterprises to produce electricity from vegetative waste and byproducts. This prototype unit is a compact system that utilizes our award-winning Waste Heat Engine (WHE) to produce power from heat derived from biomass combustion. We are now performance and endurance testing the system before delivery to our client Robotic Technologies, which commissioned the system pursuant to its Phase II SBIR project sponsored by the Defense Advanced Research Projects Agency (DARPA). (By the way, you may have seen this dynamic application of our engine featured recently on Fox News, Popular Science, Scientific American, Discover Magazine and Wired.)
The pre-production prototype of our flagship 100HP Mark V Engine is also nearing completion, with air and steam testing happening now. This engine, which was named Popular Science's 2008 Invention of the Year, is adaptable for applications as diverse as passenger automobiles (with over 850 ft.lbs. of starting torque), to electric power generation from biofuels, waste oils and even industrial waste heat. We hope to have more results and video to share with you in the next quarter.
From a business standpoint we generated $102,000 in revenue in the first nine months of 2009, not inclusive of $425,000 of deferred revenue from non-refundable license and development fees that we will recognize upon the delivery of prototype engines to our licensees. We incurred $1.8 million in operating losses since January; however, a substantial portion of this ($500,000) was from the issuance of restricted stock to our employees, consultants and other professionals in lieu of cash - which we consider a very positive sign of support from these extremely talented and dedicated people.
We ended the period with over $52,000 in the bank at September 30 and total current assets of $187,000. We do not want this cash position to overly concern our shareholders, because since the end of the quarter we have received an additional $132,000 in license and development fees and $85,000 from the sale of restricted stock, and now believe we have cash and current cash commitments under our several agreements to operate at full strength well into 2010. You can find additional financial information in our Quarterly Report for the fiscal period ended September 30, 2009, as filed with www.pinksheets.com.
In late July we also signed a very interesting license agreement with Phoenix Power Group for electric power generators that run on waste oil fuels, such as used automotive motor oil. Under its license, Phoenix is obligated to pay us $400,000 in license and development fees over the next nine to 12 months, $150,000 of which we received in August, and then on-going royalties on each Cyclone Engine produced. Phoenix has agreed to pay guaranteed minimum royalties over the life of the agreement in an amount exceeding $4 million in order to maintain its rights.
One final accounting item to report - we have engaged the CPA firm of Mallah, Furman & Company P.A. to audit our financial statements for the periods ended December 31, 2008 and 2009, in compliance with GAAP and accounting regulations of the Securities and Exchange Commission. We believe that this audit constitutes a critical first step towards Cyclone becoming a fully reporting registrant under the federal securities laws and, ultimately, moving our common stock to a national exchange, as that is our intention.
Between the strides we have made in our engine technology and the new agreements, partnerships and licenses we have signed or are currently pending, we are very optimistic about our prospects. We believe that a bright future for Cyclone will mean a brighter future for our nation and our planet. This is the reason we push ahead every day - for something bigger and greater than us individually. We are very happy that you see that vision too, and can join us along this exciting journey.
Sincerely,
Harry Schoell, CEO & Director
Petro Avec Wins World Finance Oil and Gas Industry Award for Best Innovation in Refining Technology
Press Release
Source: Axial Vector Energy Corp.
On 6:10 am EST, Wednesday November 4, 2009
DUBAI, UNITED ARAB EMIRATES--(Marketwire - 11/04/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today its Petro Avec joint venture has been awarded the '2009 Best Innovation in Refining Technology' category by World Finance Magazine (http://www.worldfinance.com). This prestigious award recognizes the important breakthrough of using 'Sono Chemistry' to remove sulphur to near zero from both refined product streams and heavy crude oil.
Other category winners of this prestigious award include Petrobras for Best National Company, Chevron for Best Fully-Integrated Company, and BP for Best Downstream Company. The complete list of the 2009 Oil and Gas Awards can be viewed at (http://www.worldfinance.com/news/home/awards/article867.html).
Sanjai Chhaunker, President and CEO of AVEC, stated, "We are honored to receive this award which recognizes Dr. Mark Cullen's breakthrough technology for oxidative desulphurization and heavy crude oil upgrades. The world's oil producers and environmental groups are now recognizing the enormous benefits of using our technologies to process hydrocarbons at much lower capital and production cost. Sulphur is the number one problem for oil refiners and is of grave concern for environmentalist throughout the world. Its removal to near zero levels constitute the largest change in hydrocarbon processing in a generation."
World Finance Magazine has also published in its November-December issue a feature story on the history and business development plan for the Petro Avec technology commercialization. This article is also available for viewing at the Axial Vector Energy Corporation's website (www.axialvectorenergy.com).
About World Finance
World Finance is a financial magazine produced every two months by World News Media, based in the UK. It works in partnership with Reuters to provide news and data, and with Project Syndicate to provide commentary from international personalities. The magazine has included contributions from personalities such as Jeffrey Sachs, Nouriel Roubini, and Robert Shiller.
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop, finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.
About Petrosonics, LLC
Petrosonics, LLC is a privately held, U.S. based oil refining and production technology company. Petrosonics' patented products and services utilize moderate power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
Contact:
For further information, please contact:Samuel HigginsChairmanAxial Vector Energy CorporationTelephone: +9714 887 5351Facsimile: +9714 881 7835www.axialvectorenergy.comJebel Ali Free ZoneLOB21- F07Dubai, United Arab Emirateswww.axialvectorenergy.comBuilding # 1, 1397 Taylor Farm RoadVirginia Beach, VA 234533United States
AXVC.PK Products Have Many Potential Market Applications
Axial Vector Energy Corp. owns, develops, finances and licenses advanced next generation energy technologies that have tremendous potential in industrial and commercial energy-related applications around the world. The Axial Vector engine converts chemical energy from a variety of different fuels into motion, but much more efficiently than a standard engine.
In addition to the company’s revolutionary engine technologies, Axial Vector has designed a new family of high-power, high-efficiency ‘Axial Flux’ electric generators. In combination, Axial Vector’s engine is designed to be seamlessly integrated with two 100 kW Axial Flux generators in order to create a 200 kW generator set (GENSET) that is expected to become the company’s first commercially marketed product.
The commercial applications for the company’s engine and GENSETs are enormous. The Axial Vector engine has many advantages including: its smaller size and weight, fewer operating parts and lower maintenance, an unmatched weight-to-horsepower and weight-to-torque ratio, its greater fuel efficiency and its ability to run on multiple types and blends of fuels such as gasoline, diesel, kerosene, ethanol, bio-diesel, JP5 and JP8 fuels, and it can even be converted to run on propane or natural gas.
One important application for the company’s engine and GENSETS is in military deployments. One key feature is the GENSET’s top-level control system, which is known as the FADEC – Full Authority Digital Engine Control – system. This control system enables fully integrated digital control of the GENSET, including a wide variety of operating parameters. Because the system is satellite-communication capable, the GENSETs can be remotely monitored, which is a critical feature for geographically wide-ranging and often inhospitable military environments.
Axial Vector’s engine technologies can also be used in non-automotive applications including tractors, forklifts, loaders, and farm and forestry vehicles. Versions of the company’s engines and GENSETs also can be deployed in a scaled-down fashion in a variety of consumer and commercial appliance applications like refrigeration and air conditioning, in which substantial amounts of electrical power are being used every day.
AXVC.PK Sets Sights on Dubai Award for Sustainable Transport Under Environmental Protection Category
Axial Vector Energy Corporation announced today its entry for the Environmental Protection Category for the Dubai Award for Sustainable Transport 2nd Edition, under the patronage of HH Sheikh Hamdan Bin Mohammed Bin Rahid Al Maktoum, Crown Prince of Dubai & Chairman of Dubai Executive Council. This particular award displays Dubai’s leadership in supporting sustainable transport to make the world a better place.
According to the press release, AVEC’S “ultra clean hybrid taxi” would provide the Dubai government a 50% fuel savings and a 75% reduction in exhaust gases for Dubai Taxi Corporation (DTC) at Roads and Transport Authority (RTA) fleet. This fleet is comprised of approximately 3,500 vehicles that deliver a number of service categories such as District Taxi, Airport Taxi, Hatta Taxi, Ladies Taxi, and Special Needs Taxi, in addition to ordinary taxis.
AVEC is working with other innovators in the Gulf Cooperating Council (GCC), as well as the United States, to deploy these next generation taxis to fleet, commercial and military markets. Sanjai Chhaunker, President & CEO of AVEC, commented, “We are honored to support the vision and leadership of Dubai in implementing this program under an ‘accelerated rapid development program.’”
The company told investors that multiple patent applications are currently being filed to protect all of the technological breakthroughs included in this program. Technical details have been promised to be released weekly as the patent applications are confirmed.
AXVC.PK Announces New Sales and Production Facility
Axial Vector Energy Corp. announced today that it has opened its Sales and Production Facility in Virginia Beach, Virginia, USA. The facility will allow the consolidation of new product developments, license transfers, USA government grants and loans, as well as a sales and demonstration office.
The Virginia Beach based engineers were successful in completing Axial’s multi-fuel workhorse engine and the company is confident they will produce similar results productionizing other engine programs. According to the press release, AVEC possesses large order books on all of these products which can generate tens of millions in revenue for the company starting in the fourth quarter of 2009.
The company chose Virginia over three other States for multiple reasons including competitive operating cost, quality work force, excellent education systems and a variety of State-sponsored business incentives. Some of these incentives include the Governor’s Opportunity Fund, the Virginia Jobs Investment Program (VJIP), and the Virginia Investment Partnership Act.
Sanjai Chhaunker, President and CEO of AVEC, stated, “Having all of our engines, generators, and engine control systems under one roof provide our licensees a one-stop ‘turnkey’ method to buy or license our ultra clean, environmentally friendly technologies.” Mr. Chhaunker further added, “We have received positive feedback on our loan and grant applications and can now showcase our complete line to the State and Federal government officials who will be visiting soon.”
New PR is short on timelines
Why should we believe them now? Have they not failed to deliver on pretty much every PR promise ever made? Yes, they have.
AXVC.PK to Sign MOU to Integrate Ultra Clean Axial Vector Engines and Generators for Public Transport
Axial Vector Energy Corporation (AVEC) announced this morning that it has been invited to sign an MOU to integrate its ultra clean Axial Vector Engines and Generators into Dubai Public Transport. RTA, which is owned by the Government of Dubai, plans and executes all public transportation systems in the emirate of Dubai. RTA is committed to providing the most technologically advanced transportation techniques while simultaneously being environmentally conscious.
The MOU forms a close relationship between AVEC and the RTA ensuring the government of Dubai will have superior technology for improving the air and further establishing Dubai’s world leadership of vision and innovation.
This new agreement will allow AVEC to deploy its technology into the public transport arena ensuring high volume penetration in a relatively short period of time into the commercial market. Additionally, the use of AVEC technologies in a public transport sector will certify that AVEC products are reliable as well as durable.
AVEC has stated its intent to provide a smaller version of its proven multi fuel “workhorse engine” and combine the engine with its ultra efficient AXIAL FLUX generators to modify all forms of transport that are deployable on a large scale, using virtually any fuel, including non fossil fuels such as palm oil, ensuring that only a negligible amount of carbon dioxide and other dangerous contaminates are released into our atmosphere.
Sanjai Chhaunker, President and CEO of AVEC, commened, “We are honored to receive this invitation to enter this MOU with RTA for deploying our state-of-the-art environmental technologies. Our ultra efficient and ultra clean technologies represents a continuation of the vision and innovation of Dubai, its rulers and business leaders and can provide a range of improvements including reduced electricity consumption, 40 % fuel savings, hybrid taxis, and other applications all environmentally sound with little or no carbon footprint.”
In the press release, the company promised that more details on deployment will be made available soon.
AXVC.PK Sees Abundant Applications
Axial Vector Energy Corp.’s products represent an enormous near-term market opportunity. The company makes products that are very efficient at converting energy from one form to another, an obviously marketable capability in today’s world. The Axial Vector engine, for example, converts chemical energy from a variety of fuels into motion, like a standard engine, but does it extremely efficiently due to its unique design.
The AVEC engine offers greater fuel efficiency, smaller size, and significantly lower weight than standard engines. It also has fewer operating parts, reducing maintenance costs, and has an unmatched weight-to-horsepower and weight-to-torque ratio. The engine is currently being tested for use on mobile platforms and other applications. One of the most important features of the AVEC engine is its ability to run efficiently on multiple types of fuels, such as diesel, bio-diesels, JP5 and JP8 fuels, and ethanol, as well as kerosene. A special conversion kit even allows the use of natural gas or propane.
AVEC also produces highly efficient electric generators, which, when combined with AVEC engines, result in GENSETs with an efficiency approaching 98%, normally available only with systems many times larger. These products are fully scalable, with a huge potential for military, industrial, and commercial application. Military applications in particular can benefit from the GENSET’s top-level control system, which allows fully integrated digital control of the GENSET. In addition, since the systems have satellite communication capability, they can be remotely monitored and diagnosed, allowing use in distant and inhospitable environments.
The automobile and associated markets, such as tractors, can benefit from the AVEC engine’s increased gasoline mileage, low maintenance, and reduced emissions, made possible by the design and the advanced control systems. Scaled-down versions of the engines and GENSETs can also be deployed in a variety of consumer and commercial applications, such as refrigeration and air conditioning, helping to reduce the enormous amounts of electrical power used nationally for this purpose.
PR is lame. "A plan to make a plan?"
Just when you think they could not sink any lower, we get a PR like this last one. "We are planning to develop a plan, but plan to hire someone else with more experience to do it for us. No timetable has been planned."
These losers should start writing comedy and make money that way. Their accidental business comedy is classic.
AXVC.PK to Develop Strategic Plan for Penetration into China
Axial Vector Energy Corp. announced earlier this morning that it is planning to expand aggressively into China. The company has engaged Evotech Management Corporation (”EMC”), a global strategic management consulting and merchant banking firm, to develop a comprehensive plan and assist with the expansion.
AVEC believes its next generation energy technologies have unlimited potential in industrial and commercial energy-related applications and are best suited to address China’s need for energy efficient technology. “The fact that AVEC’s products and technologies provide a green foot print is ideal for China’s new trend toward greentech,” stated Basilio Chen, Chairman and Managing Partner of EMC. China greentech markets are predicted to reach 15% of its GDP by 2013 according to the China Greentech Initiative.
“This is a market that AVEC’s green energy technology is naturally suited with a competitive edge and is a huge opportunity we intend to pursue right away through the Shanghai offices of Evotech,” added Samuel Higgins, Chairman of the Board.
In a recent interview at Fox TV, Host and Managing Editor of “Special Edition TV,” Ileana Bravo commented, “The fact that this engine runs on bio-based oil as fuel is significant in several ways. Palm oils that are totally renewable fuel sources can be harvested from our Earth’s equatorial regions providing needed jobs and social development. Developing countries in these regions can now enter the world economic stage as a viable and important player. The environmental impact of using palm oil as a fuel source is minimal, and this fuel source is one that you can literally drink. That is amazing.”
The revolutionary Axial Vector Engine has been chosen to serve as the core of the company’s initial market applications in China. This amazingly powerful, lightweight, and highly efficient radial-design engine can produce higher horsepower and torque with considerably lower fuel requirements than conventional engines of similar size. The Axial Vector Engine is also less costly to manufacture and operate, and provides significant environmental advantages over standard internal combustion engines.
AXVC.PK Chairman to Deliver Keynote Speech at the International Green Money Conference
Axial Vector Energy Corporation yesterday announced that the company has been invited to present one of the keynote speeches at the International Green Money Conference on November 12-15, 2009 in Moura, Portugal. Mr. Samuel Higgins, AVEC Chairman, will be delivering a formal address to the worldwide delegations.
According to the press release, this event is going to be the first summit that gathers the largest companies in the world that produce green products, recycling services, and sustainable processes. Environmental Networking Group and International Green Summit Inc., who have been fundamental in putting together green projects along with funding around the world, are conference organizers. The conference will be comprised of keynote speakers, a 10-person panel of international scientist, investors, educational workshops, networking events and collaborative seminars. The objective is to network investors, political leaders, and innovators of tomorrow’s technology to unify financial solutions for a greener tomorrow.
Mr. Michael Padurano, founder of the International Green Summit, stated, “The entire world has awareness now of the importance of our environment and lowering energy cost simultaneously while creating new clean energy sources. AVEC is uniquely in the position of doing it all and we are pleased to present all of these to the world in Portugal this November 12th to 15th.”
FOX News recently aired AVEC on their Global News Group Program “Special Edition TV,” with Ms. Ileana Bravo interviewing representatives from AVEC at their first United States based live demonstration of the “axial flux” and GENSET technology power generating system.
Ms. Bravo commented, “The fact that this engine runs on bio-based oil as fuel is significant in several ways. Palm oils that are totally renewable fuel sources can be harvested from our earth’s equatorial regions providing needed jobs and social development. Developing countries in these regions can now enter the world economic stage as a viable and important player. The environmental impact of using palm oil as a fuel source is minimal, and this fuel source is one that you can literally drink. That is amazing.” To view the video, please visit www.axialvectorenergy.com.
Mr. Samuel Higgins, AVEC Chairman of the Board of Directors, added, “We are scheduled to introduce our new products and partners of commercialization for our existing products at this conference and in order to have this prestigious platform to do so.”
They are leading innovation in the field
Question regarding leadership
RE: "Axial Vector Energy Corp., a leader in energy conversion efficiency...."
How exactly do you achieve this leadership status with no products, no services, no income, and no profit?
This is pushing the boundaries between press release exaggeration and flagrant SEC-sanction-able lies.
AXVC.PK Management & Advisory Team
Axial Vector Energy Corp., a leader in energy conversion efficiency, is fortunate in that it is run by one of the most seasoned international management and advisory teams, with over a century of combined experience. This is critical in starting and growing a company, obtaining the required capital, locking in the rights to key products and technologies, and ensuring that your message gets out to the public on a worldwide basis.
• Samuel Higgins, Axial Chairman, has been involved in raising and investing capital globally for over 30 years, with extensive experience in the energy industry, as well as in real estate and technology. His global contacts include his role as Managing Director of a family office in Latin America that advises high net worth individuals. He also has strong connections in the Middle East, and is partner in Emirates International Capital Advisory based in Dubai, where he now lives with his family. He is also known for his lectures on technology development and first-mover breakthrough events affecting GCC (Gulf Cooperation Council) countries.
• Sanjai Chhaunker, Axial President & CEO, is a finance and management professional with expertise in international business, and over 15 years of experience in financial management and business planning. He has provided advisory services to clients in financial and technical collaborations, including technology transfers and marketing. This has helped him develop a strong business network in countries throughout the world, including the U.S., India, UAE, Mexico, Brazil, Canada, Hong Kong, Malaysia, and others.
• Miguel Gonzales, Axial Legal Advisor, is an independent legal consultant and practicing attorney, with over 28 years of legal consulting experience. During this time he was Vice President of Cortez Carbajal y Asociados Law Firm, and is the founder of the law firm Jazo – Gonzalez y Asociados, in charge of the Legal and Corporate Department, and consultant in foreign investment.
• Benjamin Langford, Axial Secretary/Treasurer and Director, is president and CEO of Langford Unlimited, and was earlier the president of Langford Enterprises, involved in technology investments. He started his environment awareness career with Jefferson Smurfit Corporation, a leader in global resources and recycling.
Another paid ad = more expenses?
Since they have nothing to sell after countless years of trying and failing, isn't spending money on ads just going to put them further in the hole?
Just a thought.
AXVC.PK to Be Featured on FOX TV
Axial Vector Energy Corp. today reminded investors that that its revolutionary Axial Vector Engine will be featured on the Global News Group Program “Special Edition TV” on Sunday, September 27th at 11:00 am EST. Designed to provide a platform for companies and organizations to talk about and present their solutions, the program provides international exposure via customized news reports reaching industry leaders and people through various news and media outlets.
Earlier this year, Host and Managing Editor of “Special Edition TV,” Ileana Bravo interviewed representatives from AVEC at their first United States based live demonstration of the “axial flux” and GENSET technology power generating system. The footage from these interviews, demonstrations, and other sources was compiled to deliver Axial’s story.
Ms. Bravo commented, “The fact that this engine runs on bio-based oil as fuel is significant in several ways. Palm oils that are totally renewable fuel sources can be harvested from our earth’s equatorial regions providing needed jobs and social development. Developing countries in these regions can now enter the world economic stage as a viable and important player. The environmental impact of using palm oil as a fuel source is minimal, and this fuel source is one that you can literally drink. That is amazing.”
AVEC’s flagship technology, the revolutionary Axial Vector Engine, will serve as the core of the company’s initial market applications. This powerful, lightweight, and highly efficient radial-design engine has been designed to produce significantly higher horsepower and torque with considerably lower fuel requirements than conventional engines of similar size. The Axial Vector Engine is also less costly to manufacture and operate, and provides significant environmental advantages over standard internal combustion engines.
In addition to its engine technologies, AVEC has developed a revolutionary new family of high-power “Axial Flux” coreless electric generators that reach 98.5% efficiency in converting mechanical to electric energy. AVEC’s Axial Vector Engine can be seamlessly integrated with two 100 kW Axial Flux generators to create a 200 kW generator set (GENSET), which is expected to become AVEC’s first commercially marketed product.
“We highly encourage everyone to watch ‘Special Edition TV’ on Sunday, September 27th to witness how this technology has been well received and why AVEC has been included as a featured story on Special Edition TV and the Global News Group’s 2009 Environmental and Green Technology series,” stated Samuel Higgins, Chairman of the Board of Directors.
AXVC.PK Details Product Development Activities
Axial Vector Energy Corp.’s mission is the development of low-cost, clean, and efficient energy technologies, making optimum use of chemical and electrical energy. Below are some of their recent activities and accomplishments. It’s interesting to note that these products were designed with the same sophisticated programs used by Boeing to design Jumbo Jets.
• New Diesel / Multi-Fuel Engines
Axial has now completed performance test trials on their prototype 8-cylinder, 352 HP diesel and multi-fuel engine, which produces 1,140 ft-lbs of torque. With a torque per horse-power that is 75% greater than an equivalent displacement Caterpillar diesel engine, and greatly reduced wear, the engine offers significant operational benefits. For example, a truck using this engine could expect to travel some 2 million miles before requiring an overhaul.
As part of this, they have successfully demonstrated multiple firing and operation of the engine using palm oil, the first ever commercially viable power train using a non-fossil fuel energy source. This represents a huge new market for the company.
• New Generators
Axial is in the final stages of testing their unique 100 KW prototype, coreless, axial flux, and permanent magnet generator, for converting rotational motion to electricity. Instead of using large internal coils of copper wire like most generators, the system uses only rare-earth permanent magnets, resulting in a generation efficiency of up to 98%.
• New Gensets
A GENSET is a combination of a fuel powered engine and an electric generator, able to convert chemical energy into electricity. Axial has seamlessly integrated their new diesel / multi-fuel engine with their 100 KW coreless generators, creating one of the most efficient GENSETS on the planet. The system uses advanced digital controls, and is capable of producing a wide range of desired voltages for virtually any application.
• New Electric Motors
An electric motor is basically a generator run in reverse. Instead of turning mechanical motion into electricity, it turns electricity into mechanical motion. A 100 KW generator can also be used as a 133 HP electric motor. But most electric motor applications require less power output. Conversely, a ½ HP electric motor can be used as a 375 watt generator. But most generator applications require more energy output. The need is for a system that can efficiently span a range of energy and power requirements.
Axial has created a new product line of small ultra-efficient electric motors spanning a wide range of HP output. This range, together with their very low operating costs, between 35% and 55% lower than standard electric motors, make them useful for all sorts of industrial and residential applications. The size of the potential market becomes clear when you realize that the average American home has at least 5 electric motors.
AXVC.PK Describes Dual Technologies of Petrosonics
Axial Vector Energy Corp., developer of advanced, high-efficiency energy engines, has access to two important fuel purification technologies associated with Petrosonics LLC, the privately held development stage oil refining technology company that is part of the PETROAVEC joint venture between Axial Vector and Petrosonics.
The first technology uses ultrasound at moderate temperature and atmospheric pressure to reduce sulfur and nitrogen in processed diesel. This is important because there is worldwide legislation aimed at decreasing sulfur emissions to zero, including emissions from off-road use such as marine and locomotive. There is also a shift in demand from gasoline to diesel. Hydrotreatment, the current technology, is not cost effective for mid to small sized refineries, and there is not enough capacity for increasing demand. The Petrosonics patent portfolio covers most of the world’s oil producers and refiners.
The second key technology removes sulfur, nitrogen, and trace metals in heavy oils and crude, prior to final processing. It also reduces viscosity, increasing API (American Petroleum Institute) gravity and volume. Sour oil becomes less sour, and a more useable refined product is available for extraction from each barrel, expanding product volume. The net result is an increase in dollar value of each barrel of refined oil. In addition, the chemistry is straight forward, and associated equipment is commercially available, and can be used throughout the world. Heavy oil upgrade and desulfurization is worth at least $2 to $8 dollars per barrel, and can be performed by the producer prior to sale, to increase value to non-hydrotreater equipped refineries.
Petrosonics has related patents in the EU, Hong Kong, and Kazakhstan, and has over 1,500 claims pending in dozens of countries over six continents. Discounting territories, the company has patents pending in 42 countries and intellectual property coverage for roughly 55% of all crude oil in production, 30 percent of all crude oil reserves, and 40% of the world’s refineries.
Up on the paid pump. Amazing!
AXVC is up 21.05% on 375,000+ traded shares!
marketwire
Automotive Industries Magazine to Feature AVEC Engines as Its Cover Story
* Press Release
* Source: Axial Vector Engine Corp.
* On Wednesday September 16, 2009, 6:21 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/16/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that Automotive Industries Magazine (http://www.ai-online.com/) will feature the AVEC engine technology as its cover story in the January issue.
Automotive Industries (AI) is devoted to providing a global coverage on all aspects of the automobile marketplace, with an emphasis on the people, products and processes that shape the industry. Automotive Industries provides more than 40,000 manufacturers and suppliers with in-depth news, information, insight and analysis on the global events that affect the auto industry.
The in-depth cover feature on AVEC will focus on the engineering breakthroughs of the AVEC engines and what their rapid commercialization will do for reduced energy consumption and a much lower impact on the air and environment.
Remarked Sanjai Chhaunker President and CEO of AVEC, "Automotive Industries has over 40,000 subscribers who average 24 years auto industry exp and over 90% say AI is 1st / 2nd reading choice every month. In addition (http://www.ai-online.com/) is receiving over two million hits per month which will add tremendously to our visibility. We are also very pleased that senior management of AI are now providing personal introductions to OEM's and investors in the worldwide auto industry." Mr. Chhaunker further stated, "We encourage everyone to go to our web site www.axialvectorenergy.com and view the videos of our engines running to understand why the world is now showing so much interest."
About Automotive Industries Magazine
Today's carmakers GM, Ford, Daimler, Chrysler, Renault/Nissan, BMW, Honda, Toyota, Hyundai and the major systems suppliers are building 50M+ vehicles per year and are constantly looking for new suppliers, new innovations and cost savings opportunities in today's difficult market for car makers, new fuel efficient technologies and new suppliers in low labor cost emerging markets. The auto industry is often considered to be one of the most global of all industries, (see report*). Automotive Industries (AI) offers global media coverage for the industry and can position itself as the "Newsweek" magazine for the industry. By 2020 there are expected to be 1 billion cars on the planet. Reuters, CNN, Forrester Research, Automotive Industries (AI) is the world's oldest continually published trade publication covering the auto making business. It was founded in November 1895 as "The Horseless Age," the first magazine created to cover the world's transition from horse-drawn conveyances to those powered by the new internal combustion engine. The magazine changed its name to "The Automobile" in July 1909, an era when gasoline, steam and electricity all vied for preeminence in motive power. The magazine's present name was established in November 1917. The title was briefly amended to "Automotive and Aviation Industries" during the World War II years, as the magazine expanded its coverage of technologies and production methods to include the aircraft industry, in which many automakers participated.
AI Testimonials, "If you go back and look at The Horseless Age* (*Automotive Industries was formerly The Horseless Age from 1895-1917), it's sort of like the Byte Magazine of the PC industry, very hardcore, covers all the models in-depth, explains what's going on inside definitely part of getting things going." - Bill Gates, Founder of Microsoft
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
AXVC.PK Provides YouTube Link to Fox News Segment featuring AVEC
Axial Vector Energy Corp. (”AVEC”) announced this morning that the news segment for the upcoming Fox Business TV show has been completed and is now available to investors on the AVEC YouTube business page. To view the video, click the following link
Fox News Segment of AVEC Now Posted on AVEC YouTube Site
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday September 14, 2009, 6:32 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/14/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that the completed news segment for the upcoming Fox Business TV show has been finished and is now available to view on the AVEC YouTube business page.
To view the video go to
Lots of paid ads. So what?
This company is nothing but hot air and vacuous press releases. When will they manufacture anything? When will they generate income? When will they earn a profit? All they seem capable of generating is failed promises and more losses. These fake PR's aren't fooling anyone.
AXVC.PK Announces Upcoming Radio/Internet Interview on Business Talk Radio
Axial Vector Energy Corp. announced early this morning that Business Talk Radio will be airing an interview featuring AVEC lead engineer Douglas Hahn at 8PM Eastern Standard Time (EST) tomorrow. A list of local stations can be found at http://www.businesstalkradio.net/zipsearch.shtml. The show will be web simulcast and archived on the broadcaster’s website as well.
Additionally, Chairman Sam Higgins is scheduled to be interviewed by host Stu Taylor on Radio America’s Equity Strategies segment at 10PM EST on Sunday, September 13th. Radio America is broadcasted to 45 radio stations in the U.S. A., complete listing can be found at http://www.stutaylor.com/radio_affiliate_listing_RA.htm. This interview will also be web simulcast and archived.
Chairman Sam Higgins commented, “Both interviews will be very informative. We highly encourage our OEMs and shareholders to listen to both.”
Axial Vector Energy Corporation business updates to air on radio and internet 8pm EST, Saturday, September 12th and 10pm EST, Sunday, September 13th, 2009
* Press Release
* Source: Axial Vector Energy Corporation
* On Friday September 11, 2009, 5:35 am EDT
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DUBAI, United Arab Emirates, Sept. 11 /PRNewswire-FirstCall/ - Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC - News; Frankfurt: BAE1) announced today that Business Talk Radio (www.businesstalkradio.net) will be airing an interview with AVEC lead engineer Douglas Hahn (http://www.youtube.com/user/EICADXB#play/uploads/0/sVEOTNjAtCU) at 8PM Eastern Standard Time (EST) on Saturday, September 12th. A list of local stations can be found at http://www.businesstalkradio.net/zipsearch.shtml. The show will be web simulcast and archived (www.businesstalkradio.net) as well.
Chairman Sam Higgins (http://www.youtube.com/user/EICADXB#play/uploads/1/VrC7bAPsHB4) will also be interviewed by host Stu Taylor (http://www.radioamerica.org/PRG_equitystrategies.htm) on Radio America's (www.radioamerica.org) Equity Strategies segment at 10PM EST on Sunday, September 13th. Radio America can be heard on 45 radio stations in the U.S. A., complete listing can be found at http://www.stutaylor.com/radio_affiliate_listing_RA.htm. Mr. Higgins remarks will also be web simulcast and archived (www.radioamerica.org).
Remarked Chairman Sam Higgins, "Both interviews will be very informative. We highly encourage our OEMs and shareholders to listen to both."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
AXVC.PK JV Partner Awarded Key Patent in Indonesia
Axial Vector Energy Corp. announced that its PETRO AVEC JV partner, Petrosonics LLC, has been awarded a patent in Indonesia that protects the process of removing sulfur from all types of crude oil fractions through sonic energy, oxidation and the removal of all of the oxidized sulfur through hydrotreatment. The patent will remain effective for 20 years.
According to the Oil & Gas Journal, Indonesia had 4.3 billion barrels of proven oil reserves as of January 2007. Although Indonesian crude oils vary widely in quality, most streams have gravities in the 22 to 37 degrees API range. Indonesia’s two main export crudes are Sumatra Light, or Minas, with a 35 API gravity, and the heavier, 22 API Duri crude.
In January of 2007, Indonesia had 992,745 bbl/d of refining capacity at 8 facilities, all of which are operated by PT Pertamina. PT Pertamina announced in August 2006 that it plans to spend $10 to $11 billion on boosting Indonesia’s downstream sector over the next 5 years. As part of this effort, there have been various proposals to upgrade existing refineries or build new facilities, as well as to expand the country’s transmission, distribution, and marketing network. A new refinery at Pare-Pare, Indonesia’s first privately-owned refinery, will have a capacity of 300,000 bbl/d and is expected to be completed in 2010.
PETRO AVEC CEO Dr. Mark Cullen commented, “Indonesia’s 4.3 billion barrels of proven oil reserves, probable reserves of an additional 5.79 billion barrels, eight refineries and ambitious plans for future facilities all bode well for PETRO-AVEC. We are pleased to add Indonesia to the growing list of countries offering intellectual property protection and look forward to working with them.”
marketwire
AVEC Announces Launch of Global Awareness Program and New Website
* Press Release
* Source: Axial Vector Engine Corp.
* On Tuesday September 8, 2009, 6:41 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/08/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today the launch of Global Awareness Program and AVEC's new website. The Global Awareness Program will air on WBIX The Business Station (www.wbix.com) and Business Talk Radio Network (www.businesstalkradio.net) and it covers financial and marketing groups and institutional investor markets. Chief AVEC Engineer, Mr. Douglas Hahn, will explain the many benefits of our unique multi fuel engines and generators.
Mr. Sanjai Chhaunker, President & CEO of AVEC, is also pleased to announce the launching of the new website, www.axialvectorenergy.com. Mr. Chhaunker said, "This comprehensive upgrading, along with the detailed road map letter, clearly outlines the success strategy of the new AVEC." Mr. Chhaunker further added, "Douglas Hahn's radio interview on September 9th and 10th is the beginning of a Global Investor Awareness Program, which includes TV, print media, Green Energy Conference presentations and exposure of our company's products to institutional investors."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
New website? Wow.
Please announce when they have earned a penny of profit. NOW that would be news.
AVEC Launches New Website and Business Model Tuesday, September 8th
* Press Release
* Source: Axial Vector Engine Corp.
* On Thursday September 3, 2009, 5:57 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/03/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its new corporate website including special access for OEMs (Original Equipment Manufacturers for Engines) will launch on Tuesday, September 8th at 9:30 AM Eastern Time.
A comprehensive update letter from the new Chairman, Mr. Samuel Higgins and President & CEO, Mr. Sanjai Chhaunker will also be included. In addition, two videos will be featured. The first video will provide an overall explanation of the benefits of the AVEC family of technologies. The second video will give a detailed 'tour' of the operating engine, generator, and engine control system. Mr. Sanjai, Chhaunker, President & CEO stated, "The combination of these completed technologies clearly show that the several years and multi-million dollar development program have been worth it." Mr. Chhaunker went on to say, "Much lower fuel consumption, dramatically lower emissions, the ability to run effortlessly on non-fossil fuels, and the ability to remotely monitor and do diagnostics will allow rapid deployment around the world."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
AVEC JV Partner PETRO-AVEC in Negotiations to License Its Oxidative Desulphurization Technology to India
* Press Release
* Source: Axial Vector Engine Corp.
* On Tuesday September 1, 2009, 8:29 am EDT
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Companies:
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o AXIAL VECTOR ENGINE
DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/01/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today its JV Company PETRO-AVEC is aggressively negotiating licenses that would secure rights for its oil refining technology covering the entire country of India. Government agencies for India and large multi-billion dollar privately owned refineries are all in the running for the issuance of this important license. According to the CIA World Fact Book, India currently consumes 2.9 million barrels of oil per day.
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PETRO-AVEC officials originally presented its technical due diligence to interested parties in India back in June of this year. They have now been invited back to India by multiple interested parties to finalize license negotiations starting September 4, 2009.
Third party data from two of the world's largest oil producers has confirmed the viability of removing the sulphur allowing cleaner air and dramatic savings on both capital outlay and per barrel cost of processing. Sulphur in oil remains the number one problem facing the oil industry and PETRO AVEC believes it has the best solution to this important and expensive problem.
Independent valuation models for royalty concessions to PETRO-AVEC range between $ 0.50 and $2.00 per barrel. Global oil consumption is now estimated at 85.8 million barrels per day and the amount of "sour" high sulphur oil is increasing rapidly making the Oxidative Desulphurization and Heavy Crude upgrade technologies of PETRO AVEC even more valuable there are no other current economical solutions that exist.
Samuel Higgins, Chairman of AVEC, stated, "We are receiving worldwide recognition and increasing estimates as to the value of the technology, especially since we continue to win new patent awards from major oil producing markets." Mr. Higgins went on to note, "So much so, that we have been invited to present at the 'Petrochem Arabia' conference in Saudi Arabia this October and the International Green Summit in Moura, Portugal this November."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture to develop; finance and market sulfur removal technology globally
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
AVEC JV Partner PETRO-AVEC Invited to Petrochem Arabia Conference in Saudi Arabia
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday August 31, 2009, 6:55 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/31/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today its JV company PETRO-AVEC has accepted an invitation to the "Petrochem Arabia" conference held October 4-6 in Dammam, Saudi Arabia.
This conference is under the Patronage of HRH Prince Mohammed Bin Fahd Bin Abdulaziz, Governor of the Eastern Province of the Kingdom of Saudi Arabia.
Petrochem Arabia 2009 has the full support of the Federation of GCC Chambers, as well as other major local and international organizations and is being held under the high patronage of His Royal Highness. This event brings government, Saudi and international private sector companies together to examine the current opportunities and challenges being faced in the Kingdom's petrochemical industry. It is the only conference focusing on petrochemicals in Saudi Arabia, the world's largest oil producer with over nine million barrels per day production.
PETRO-AVEC officials will be presenting the third party technical due diligence from two of the world's largest oil producers which has confirmed the viability of removing sulphur from oil allowing cleaner air and dramatic savings on both capital outlay and per barrel cost of processing.
Independent valuation models for royalty concessions to PETRO-AVEC range between $0.50 and $2.00 per barrel. Global oil consumption is now estimated at 85.8 million barrels per day and the amount of "sour" high sulphur oil is increasing rapidly making the Oxidative Desulphurization and Heavy Crude upgrade technologies of PETRO-AVEC even more valuable as no other current solution exists.
"We have today begun the exposure worldwide to show the value of the technology now that our worldwide patents have been granted to most major oil producing markets," states Samuel Higgins, Chairman of AVEC and Managing Director of PETRO-AVEC.
About Petrosonics, LLC
Petrosonics, LLC is a privately held, development stage, and U.S.-based oil refining and production Technology Company. Petrosonics' patented products and services utilize high power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop; finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
AXVC.PK Linear Power Transmission in Engines
Axial Vector Energy Corp. is a global company that owns, develops, licenses and invests in revolutionary technologies. These technologies provide a better way of doing things, an improvement on current technology.
One such example is Axial Vector’s work on the internal combustion engine and linear power transmission. Linear drive has unique properties in comparison to a conventional engine. In a linear drive there are two opposing pistons in every cylinder. The pistons in their cylinders are uniformly distributed around the circumference of the drive shaft and move back and forth in a smooth liner motion, parallel drive shaft. This is the axial transfer of energy from the pistons and is a balanced configuration.
In a standard drive there is only one piston per cylinder. The cylinders are located on one side and are perpendicular to the drive shaft. This results in an unbalanced engine. This condition is experienced as vibration or rocking when a car is started. The energy from the up and down motion of the pistons is transferred to the crank shaped drive shaft through linear rotational motion, to a bearing, and then it simply cranks the drive shaft. It is the rotational aspect of the piston movement in the standard drive, which causes engine wear, and a relatively short operational life when it is compared to linear drive or “Axial Vector Engines.”
Therefore, it can be seen that linear power transmission is ideally suited for high-pressure applications such as internal combustion engines since inherent characteristics of the reciprocating pistons move in perfect balance along the drive shaft, creating a simple harmonic balance. These “Axial Vector Engines” have fewer parts and are much lighter than conventional engines. They are also capable of doing more work than a conventional engine of the same horsepower.
The original linear power transmission design concept was conceived during World War II by Dr. Karl Herrmann and was used by the US Navy for their torpedoes. In 2004, Axial Vector acquired the rights to Dr. Herrmann’s intellectual properties and all engine prototypes. The company is using this “old” technology as a base from which they are designing “green” engines for today’s world.
marketwire
Axial Vector Energy to Be Featured, "Special Edition TV" on Fox TV Sunday, Sept. 27th, 11:00 Eastern Time
Special Edition TV and the Global News Group Announces the Inclusion of Axial Vector Energy as a Feature Story on Their 2009 Environmental and Green Technology Series
* Press Release
* Source: Axial Vector Engine Corp.
* On Thursday August 27, 2009, 6:48 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/27/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its revolutionary Axial Vector Engine will be featured on the Global News Group Program "Special Edition TV." The program is designed to provide a platform for companies and organizations to talk about and present their solutions. Select companies are provided with international exposure via customized news reports reaching industry leaders and people through various news and media outlets.
On July 14, 2009, Host and Managing Editor of "Special Edition TV", Ileana Bravo interviewed representatives from AVEC at their first United States-based live demonstration of the "axial flux" and GENSET technology power generating system. Footage from these interviews, demonstrations, and other sources was compiled to help deliver this story of advanced green technology.
Ms. Bravo commented, "The fact that this engine runs on bio-based oil as fuel is significant in several ways. Palm oils that are totally renewable fuel sources can be harvested from our Earth's equatorial regions providing needed jobs and social development. Developing countries in these regions can now enter the world economic stage as a viable and important player. The environmental impact of using palm oil as a fuel source is minimal, and this fuel source is one that you can literally drink. That is amazing."
The revolutionary Axial Vector Engine is AVEC's flagship technology and will serve as the core of the company's initial market applications. This incredibly powerful, lightweight, and highly efficient radial-design engine is capable of producing significantly higher horsepower and torque with considerably lower fuel requirements than is the case for conventional engines of similar size. At the same time, the Axial Vector Engine is less costly to manufacture and operate, and provides significant environmental advantages over standard internal combustion engines.
In addition to its engine technologies, AVEC has designed a revolutionary new family of high-power "Axial Flux" coreless electric generators that reach 98.5% efficiency in converting mechanical to electric energy. AVEC's Axial Vector Engine is designed to be seamlessly integrated with two 100 kW Axial Flux generators in order to create a 200 kW generator set (GENSET) that is expected to become AVEC's first commercially marketed product.
"We are encouraged at the reception this technology has already garnered," states Samuel Higgins, Chairman of the Board of Directors. He goes on to note: "So much so, that we have been invited to present at the International Green Summit this November in Moura, Portugal and will launch our new web site next week for OEMs (for engines) to quickly review and receive production information. Sanjai Chhaunker (Our President & CEO) and I will be posting a comprehensive shareholder letter which reviews all areas of AVEC and outlines the future for our company soon."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
About the Global News Group
The Global News Group and Special Edition TV is a team of EMMY, Telly and Peabody award winning journalists, producers and directors. "Special Edition TV" covers the latest in business and technology from innovators and industry leaders. The program is designed to provide a platform for companies and organizations to talk about and present their solutions, technologies and services. Select companies are provided with international exposure via customized news reports reaching industry leaders and people through various news and media outlets.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
AXVC.PK Applies for Grant for Joint Ownership of Engine Production Facility
Axial Vector Energy Corp. is a global solutions provider that owns, develops, licenses and invests in revolutionary technologies. These include technologies with potential in military, industrial and commercial applications such as power generation and engine technologies.
Axial Vector Energy (AVEC) recently announced that it has applied for federal grants and loan funding to assist the co-ownership of an engine and generator production facility to be located in the United States. The company is in negotiations with several domestic companies and various state governments on locations best suited for the factory.
Multiple states are in the running to the have the factory built in their state. Michigan, Indiana and Virginia are the leading contenders so far. Under the various guidelines for federal government funding, AVEC is especially well suited for acceptance due to its status of already having a production grade model and level 2 engineering package ready.
AVEC president and CEO, Sanjai Chhaunker, stated, “With our recent successful demonstration of our completed ‘workhorse engine’, we expect rapid market acceptance in the USA where there is a huge demand for clean multi-fuel power using much less fuel and producing almost no carbon footprint.”
The factory will produce the company’s double-sided shaft engine. This engine has the ability to power a vehicle on one side of the engine, while the other side powers a generator for on-board internal and external power generation, creating the ultimate self-contained hybrid electric vehicle.
A major positive is that AVEC’s engines can be made to run on many fuels. The fuels that can be used in AVEC’s engines can vary from diesel to kerosene to natural gas to palm oil. Using two-thirds less parts and 25% less fuel than conventional engines, AVEC’s engines should find a ready market here in the United States.
Now that was funnY!!! Ü
Pursuing a proposal? Lame.
Hey, this morning I strongly considered the general idea of possibly getting up at 6AM and running a theoretical marathon, most likely at a record shattering pace. So, I issued a press release and then went back to sleep. So much easier to talk about something than actually do it! I mean, hey, c'mon.
AXVC.PK Pursues U.S. Army Efficient Powertrain Technologies Contract
Axial Vector Energy Corp. announced this morning that it is proposing its Workhorse engine and ancillary generator solutions in response to the U.S. Army’s Efficient Powertrain Technologies Broad Agency Announcement (BAA), http://contracting.tacom.army.mil/baa/05RBAA1/topics.htm.
Launching a four year program to develop new powertrain technologies, the Army is searching for a solution matching a diesel engine, a longitudinal transmission, and a high output optimized electrical generator device to provide exportable electrical power. The chosen solution must reduce fuel consumption, reduce noise, and operate on a variety of fuel combinations and mixtures.
According to the press release, this contract is anticipated to be funded $1.32M in FY10, $1.92M in FY11, $1.75M in FY12, and $2.01M in FY13.
Regarding the BAA, AVEC President and CEO Sanjai Chhaunker commented, “Our patented commercial Workhorse engines and generators are uniquely qualified for this effort and are fully corroborated by third party performance test data. We are confident that we can meet the Army’s requirements for an exportable power generation system capable of running inexpensively on a variety of fuel combinations and mixtures. Our solution will save the U.S. military years of research. We also believe that our equipment’s ability to operate in extreme desert and jungle environments will be compelling. We look forward to working with them.”
AXVC.PK Joint Venture Partner Awarded International Patents
Axial Vector Energy Corp. is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies in areas such as energy. In the energy area, the company has entered into a joint venture with Petrosonics LLC called PETRO-AVEC. The joint venture is owned 60% by Petrosonics and 40% by Axial Vector Energy.
The company’s PETRO-AVEC joint venture was setup to develop, finance and market Petrosonics’ sulfur removal technology which can be used in refineries around the world. The process removes sulfur from all types of crude oil fractions through sonic energy, oxidation and the removal of all of the oxidized sulfur through hydrotreatment.
The PETRO-AVEC joint venture was recently awarded a patent for its sulfur removal technology in two additional countries. The two countries are both oil producing countries – Mexico and Egypt. In both cases, the patent awarded was for a period of 20 years.
Mexico is a key country in which to be awarded such a patent. PETRO-AVEC CEO Dr. Mark Cullen spoke about working with Pemex – the national Mexican oil company. He stated, “Mexico (Pemex) is the 3rd largest exporter of oil to the US, behind Canada and Saudi Arabia. Pemex is also the 10th largest oil company in the world in terms of revenue and ranks 42nd on the list of Fortune 500 companies.”
Dr. Cullen went on, “Its proximity to the US, new refinery construction in Mexico and work with heavy crude oil makes it an ideal candidate for our technology. Now that patent protection is in place, we hope to be talking to and subsequently working with Pemex in the near future.”
Egypt will also be an important country for PETRO-AVEC. Egypt has proven oil reserves of 4 billion barrels and has the largest refining sector, with nine refineries, on the African continent. Many major global oil companies such as BP and ENI are involved in the Egyptian oil sector. The company’s technology should help to open up Egypt’s undeveloped heavy oil potential.
Egypt’s refineries, with a capacity of 726,000 barrels per day, are all run by the national company – Egyptian General Petroleum Corporation (EGPC). Commenting on the award of the patent, Dr. Mark Cullen said, “The timing is fortuitous, given EGPC’s ongoing plan to invest in five new refineries with up to a 300,000 barrels per day refining capacity.”
Axial Vector Energy Corporation Engines and Generators Proposed for U.S. Army Efficient Powertrain Technologies Contract
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday August 17, 2009, 7:46 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/17/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that it is proposing its Workhorse engine and ancillary generator solutions in response to the U.S. Army's Efficient Powertrain Technologies Broad Agency Announcement (BAA), http://contracting.tacom.army.mil/baa/05RBAA1/topics.htm.
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The U.S. Army is launching a four year program to develop new powertrain technologies. Specifically, the Army is looking for a solution matching a diesel engine, a longitudinal transmission, and a high output optimized electrical generator device to provide exportable electrical power. The winning solution must demonstrate the ability to reduce fuel consumption, reduce noise, and operate on a variety of fuel combinations and mixtures.
The contract is anticipated to be funded $1.32M in FY10, $1.92M in FY11, $1.75M in FY12, and $2.01M in FY13.
Regarding the BAA, AVEC President and CEO Sanjai Chhaunker remarked, "Our patented commercial Workhorse engines and generators are uniquely qualified for this effort and are fully corroborated by third party performance test data. We are confident that we can meet the Army's requirements for an exportable power generation system capable of running inexpensively on a variety of fuel combinations and mixtures. Our solution will save the U.S. military years of research. We also believe that our equipment's ability to operate in extreme desert and jungle environments will be compelling. We look forward to working with them."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
Leading the Way towards Energy Effeciency
Axial Vector Energy Corp. has a lock on technologies that feed into two of the most important fields today: increased engine efficiency for power generation and vehicles, and increased purification efficiency for the processing of oil. Both areas are driven by growing demand for environmental protection, and stand to gain from worldwide governmental support.
Axial develops and licenses advanced internal combustion engines and power generator technologies, in addition to supporting a patented sonic energy and oxidation process for the more cost effective removal of sulfur and nitrogen compounds from oil. The company’s prototype GENSET power generation product is designed to produce 200KW of continuous power, with an efficiency approaching 98%, a level that is normally only available in major utility sized systems many times larger. The system provides superior performance, increased fuel efficiency, and low noise.
Axial also produces coreless axial flux motors, which are much smaller and lighter than standard electric motors, and are over 95% efficient in converting electrical energy to mechanical motion. This is important, since electric motors are estimated by the U.S. Department of Energy to consume nearly 60% of all the electricity produced in the U.S., and many are relatively inefficient.
The Axial Vector digital engine design can also be used for vehicular propulsion. The technology can be applied to standard car designs to simplify or even eliminate the need for a transmission, and it can also be applied to gas/electric type propulsion, where a super efficient engine generates electricity to drive the car, capturing and releasing energy as needed.
In addition, through a joint venture with Petrosonics, the company now offers the world oil processing industry a more efficient and far less expensive way to remove sulfur from oil. The unique process uses high power ultrasound to reduce nitrogen, trace metals, and, most importantly, sulfur, and has a huge worldwide market potential.
AVEC Applies for Government Grants for Joint Ownership of Engine Production Facility in USA
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday August 10, 2009, 5:34 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/10/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that it has applied for Federal Grants and Loan funding to assist the co-ownership of an Engine and Generator production facility to be located in the USA.
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The company is in negotiations with several domestic companies and various state governments on locations best suited for the factory. Numerous incentives and benefits are available to bring these USA developed 'ultra clean' technologies to commercial production.
Under the various guidelines for Government Funding, AVEC is especially well suited for acceptance due to its status of already having a production grade model and level 2 engineering package ready.
Sanjai Chhaunker AVEC President and CEO stated, "With our recent successful demonstration of our completed 'workhorse engine,' we expect rapid market acceptance in the USA where there is a huge demand for clean multi fuel power using much less fuel and producing almost no carbon footprint."
The demonstration in Virginia in July was powered by 'Palm Oil' only. No fossil fuel was used although the engine also uses Diesel, JP5, Kerosene and Natural Gas.
While multiple states are in the running for this factory, Indiana, Michigan and Virginia have all met the first level of qualifications. Using 2/3 less parts and 25% less fuel than conventional engines, the AVEC engines are an answer to many of the challenges facing the United States and all Governments.
One of the most important features of the double sided shaft AVEC engine is the ability to power a vehicle on one side of the engine while the other side powers a generator for on board internal and external power generation creating the ultimate self contained 'HYBRID Electric Vehicle,' which is simultaneously a large quantity portable electricity producer.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
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Axial Vector Energy Corporation JV Partner, Petrosonics LLC, Awarded Patent in Mexico, the World's 7th Largest Crude Oil Producer
* Press Release
* Source: Axial Vector Engine Corp.
* On Thursday August 6, 2009, 6:25 am EDT
DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/06/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its PETRO AVEC JV partner, Petrosonics LLC, was recently awarded a patent in Mexico, protecting the process of removing sulfur from all types of crude oil fractions through sonic energy, oxidation and the removal of all of the oxidized sulfur through hydrotreatment. The patent will remain in force for 20 years.
In 2008, Mexico was the seventh-largest producer of oil in the world. The country produced an average of 3.19 million barrels per day (bbl/d).
According to the Oil and Gas Journal (OGJ), Mexico had 10.5 billion barrels of proven oil reserves as of January 1, 2009. Most reserves consist of heavy crude oil varieties, with a specific gravity of less than 25� API. The largest concentration of reserves occurs offshore in the southern part of the country, especially in the Campeche Basin. There are also sizable reserves in Mexico's onshore basins in the northern parts of the country.
Mexico also has six refineries, all operated by state owned Pemex, with a total refining capacity of 1.5 million bbl/d. The largest facility in the country is the 330,000-bbl/d Salina Cruz facility. Outside of Mexico, Pemex controls 50 percent of the 334,000-bbl/d Deer Park refinery in Texas. In order to reduce its imports of refined products, Pemex plans to build at least one additional refinery in Mexico. The company announced in early 2009 that it plans to build a new, 300,000-bbld refinery, which would have facilities to better process the country's heavy crude oil production. Construction is slated to begin by the end of 2009.
PETRO AVEC CEO Dr. Mark Cullen stated, "Mexico (Pemex) is the third largest exporter of oil to the U.S., behind Canada and Saudi Arabia. Pemex is also the 10th largest oil company in the world in terms of revenue and ranks 42nd on the list of Fortune 500 companies. Its proximity to the United States, co-investment in the United States, new refinery construction in Mexico and work with heavy crude oil make it an ideal candidate for our technology. Now that patent protection is in place, we hope to be talking to and subsequently working with Pemex in the near future."
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop, finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.
About Petrosonics, LLC
Petrosonics, LLC is a privately held, U.S. based oil refining and production technology company. Petrosonics' patented products and services utilize high power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
AXVC.PK JV Partner Awarded Patent in Egypt
Axial Vector Energy Corp. announced this morning that its PETRO AVEC JV partner, Petrosonics LLC, was recently awarded a patent in Egypt (Egyptian Patent Application No. PCT/NA/122/2006). This patent protects the process of removing sulfur from all types of crude oil fractions through sonic energy, oxidation as well as the removal of all of the oxidized sulfur through hydrotreatment. The patent will remain effective for 20 years.
According to the Oil and Gas Journal and the U.S. Department of Energy, Egypt’s proven oil reserves currently hold about 4 billion barrels. Egypt also has the largest refining sector on the African continent with nine refineries that have a combined crude oil processing capacity of 726,000 bbl/d.
Dr. Mazin Samman, lead PETRO AVEC licensing negotiator for Egypt stated, “International Oil Companies (IOCs), such as ENI, BP, Petronas, KUFPEC and others play a significant role in Egypt’s upstream sector on a production-sharing basis with most production coming from mature fields in the Gulf of Suez (50 percent) and the newer wells of the Western Desert. The international companies are already on our list of licensing candidates and the introduction of our technology opens up a lot of Egypt’s heavy oil potential, which has not yet been developed commercially. The refineries are all run by Egyptian General Petroleum Corporation (EGPC) subsidiaries and we look forward to be speaking with them as well.”
PETRO AVEC CEO Dr. Mark Cullen commented, “We’re pleased to add Egypt to the growing list of nations granting intellectual property protection. The timing is fortuitous, given EGPC’s ongoing plan to invest in five new refineries with up to a 300,000 pbd per refinery capacity. We are also interested in Egypt’s upstream heavy oil production and look forward to assisting as IOC investment permits.”
This seems like bad news to me. I suggest everyone interested to investigate Mr. Samuel Higgins past. Jmo
AXVC.PK Appoints New Chairman of the Board of Directors
Axial Vector Energy Corporation announced this morning that Mr. Samuel Higgins has been appointed to the position of Chairman of the Board of Directors, filling a vacancy resultant from the departure of Mr. Ahmed Khalifa. As previously stated in AVEC’s SEC Form 8K on June 23, 2009, Mr. Khalifa resigned when Global Operations purchased all of the shares held by Mr. Khalifa’s firm, Emirates International Capital Advisory. However, the press release noted that Mr. Khalifa remains a private shareholder of AVEC.
Regarding the appointment, AVEC President and CEO Sanjai Chhaunker commented, “We are extraordinarily pleased to have persuaded Mr. Higgins to return from retirement. Sam is the firm’s founder, one of the largest shareholders and former CEO. No one else knows AVEC, its history, governance, the product line, the client market and the path forward as well as Mr. Higgins.”
Mr. Higgins stated, “As a shareholder seeking rapid growth in shareholder value, I’m particularly gratified that our products are performing so well, that mass production is just around the corner, and that the firm is poised to return to a fully reporting status and, hopefully, listing on a senior exchange and index. Our plan going forward involves reviewing all products, agreements and opportunities, a significant amount of licensing in the near term, accompanied by rollout and maturation of our previously announced JVs. In the near term, I’ll be travelling extensively to talk to future licensees, our JV partners, institutional investors and attendees at renewable energy conferences. We have a lot of work to do in a short period of time but I believe all of the major obstacles to profitability are behind us.”
Axial Vector Energy Announces Appointment of New Chairman of the Board of Directors
* Press Release
* Source: Axial Vector Energy Corporation
* On Monday August 3, 2009, 6:15 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets:AXVC - News)(Frankfurt:BAE1 - News) today announced the appointment of Mr. Samuel Higgins to the position of Chairman of the Board of Directors, filling a vacancy resultant from the departure of Mr. Ahmed Khalifa. As noted in AVEC's SEC Form 8K on June 23, 2009, Mr. Khalifa resigned when Global Operations (GBS LLC) purchased all of the shares held by Mr. Khalifa’s firm, Emirates International Capital Advisory. Mr. Khalifa remains committed to AVEC as a private shareholder.
Regarding the appointment, AVEC President and CEO Sanjai Chhaunker remarked, "We are extraordinarily pleased to have persuaded Mr. Higgins to return from retirement. Sam is the firm's founder, one of the largest shareholders and former CEO. No one else knows AVEC, its history, governance, the product line, the client market and the path forward as well as Mr. Higgins."
Stated Mr. Higgins, "As a shareholder seeking rapid growth in shareholder value, I'm particularly gratified that our products are performing so well, that mass production is just around the corner, and that the firm is poised to return to a fully reporting status and, hopefully, listing on a senior exchange and index. Our plan going forward involves reviewing all products, agreements and opportunities, a significant amount of licensing in the near term, accompanied by rollout and maturation of our previously announced JVs. In the near term, I'll be travelling extensively to talk to future licensees, our JV partners, institutional investors and attendees at renewable energy conferences. We have a lot of work to do in a short period of time but I believe all of the major obstacles to profitability are behind us."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
Great demo! Lousy at everything else.
These demos have been getting great reviews for many years. Its too bad they continue to lack the funds, expertise, or desire to earn a profit -- and share that with investors.
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Axial Vector Energy Corporation (AXVC) a publicly traded, development-stage company providing global energy solutions, develops multi-fuel engines and generators for use primarily in military and commercial applications. Founded in 2002, with headquarters in Portland, Oregon, Axial Vector - through a joint venture agreement with Adaptive Propulsion Systems, LLC - develops and manufactures their engines and generators with an eye toward environmental responsibility and social benefit. Axial Vector (AVEC) owns, develops and licenses a technologically advanced suite of internal combustion engines and electric power generation modules. The company has also developed the world’s only “coreless” no iron electric motors, which consume one half the electricity of conventional electric motors. These cutting-edge technologies are focused on fulfilling global engine and energy needs by delivering greater fuel-efficiency, cost effectiveness, versatility, and environmental sensitivity than ever before in venues from the commercial to the industrial, including the vehicular and military sectors. News: http://finance.yahoo.com/q/h?s=AXVC.PK SEC Filings: http://idea.sec.gov/cgi-bin/browse-idea?action=getcompany&CIK=0001144130&owner=exclude&count=40
THE AXIAL VECTOR ENGINE The revolutionary Axial Vector Engine is AVEC's flagship technology and will serve as the core of the company's initial market applications. This incredibly powerful, lightweight, and highly efficient radial-design engine is capable of producing significantly higher horsepower and torque with considerably lower fuel requirements than is the case for conventional engines of similar size. At the same time, the Axial Vector Engine is less costly to manufacture and operate, and provides significant environmental advantages over standard internal combustion engines. Specifically, the Axial Vector Engine:
The first production engine built using the advanced AVEC engine technologies is the "Workhorse 7.2", a multi-fuel, low-emission, high-horsepower, high-torque engine with multiple commercial, military, and vehicular applications that is designed to be the best engine available in its class.
POWER GENERATORS AND GENSETS In addition to its engine technologies, AVEC has designed a revolutionary new family of high-power "Axial Flux" coreless electric generators that reach 98.5% efficiency in converting mechanical to electric energy. AVEC's Axial Vector Engine is designed to be seamlessly integrated with two 100 kW Axial Flux generators in order to create a 200 kW generator set (GENSET) that is expected to become AVEC's first commercially marketed product. View our Flash Animation of Major Components. Because of their advanced design and high native fuel efficiency, AVEC's GENSETs have tremendous potential in the high-end generator market, with the capacity to become one of the most versatile and lowest-cost power generators in the world. Some of the advantages of AVEC's GENSETS are:
There are numerous potential high-value markets for AVEC's GENSETS, including backup generator systems, emergency generation during catastrophes, electrification programs in Third World countries, and motor power systems for high-energy-use consumer and commercial appliances like refrigerators and air conditioners. MANAGEMENT TEAM Ahmed Khalifa
MILITARY AND COMMERCIAL APPLICATIONS Military Applications Military and commercial applications represent an enormous, near-term market opportunity for the AVEC engine and GENSETs. The Axial Vector engine is ideal for military applications for a variety of reasons; including greater fuel efficiency, smaller size, significantly lower weight, the presence of fewer operating parts, and an unmatched weight-to-horsepower and weight-to-torque ratio. The Axial Vector Engine is currently being tested for use on mobile military platforms and for fulfilling various military propulsion and other needs. Multi-Fuel CapabilitiesUnlike most existing, gasoline-fueled engine technologies, the Axial Vector Engine was designed to run efficiently on multiple types of fuels, a significant benefit to the US military since the military has been directed to phase out use of all gasoline-powered engines within the next few years. Significantly, the Axial Vector Engine can run on diesel fuel, kerosene, bio-diesels, JP5 and JP8 military fuels, ethanol, and blends of these fuels. A special conversion kit is also available for the combustion of natural gas or propane. Digital Control and Remote DiagnosticsOne of the most important benefits that the Axial Vector Engine and AVEC GENSETs offer in military deployments is the GENSETs' top-level control system. Known as the FADEC (Full Authority Digital Engine Control) system, this control regime enables fully integrated digital control of the GENSET, including a wide variety of operating parameters like ideal engine speed. Because the system is satellite-communication capable, the GENSETs can be remotely monitored and diagnosed — critical feature for geographically wide-ranging and often inhospitable military environments. Commercial ApplicationsIn addition to military applications, the consumer automobile market also offers significant potential for deployment of AVEC engine technologies. Important benefits like improved gasoline mileage and reduced emissions will be compelling reasons for the technologies' adoption. Further, the same digital FADEC control system employed in military versions of the engines can be used in automotive applications to constantly monitor and maintain optimal engine performance. In vehicular settings, AVEC engine technologies also can be used in a number of non-automotive applications, including tractors, loaders, forklifts, and farm and forestry vehicles. Versions of the AVEC engines and GENSETs also can be deployed, in scaled-down fashion, in a variety of consumer and commercial appliance applications, like refrigeration and air conditioning, in which substantial amounts of electric power are currently being used. Pop-up Movie Link From AVEC's Web Site http://www.axialvectorenergy.com/popup_movie_genset.html
Axial Vector Energy Corporation offices are in: INVESTOR RELATIONS Emirates International Capital Advisory Redwood Consultants, LLC 250 Bel Marin Keys Blvd. Bldg. A-1 Novato, CA 94949 Tel: 415-884-0348 Fax: 415-884-0361 Email: investorinfo@redwoodconsultants.com Axial Vector Stock Transfer AgentIntercontinental Registrar and Transfer Company
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