Press Release Source: Axial Vector Energy Corporation
AVEC Announces Technology Transfer Agent, EngineTec, Inc. and Schedules Open House Technology Presentation
* On Tuesday May 19, 2009, 9:57 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets:AXVC - News) (Frankfurt:BAE1 - News) is pleased today to announce the nomination and finalization of its technology transfer contractor in the United States, EngineTec, Inc. EngineTec has served as systems integrator for the engines and generators on behalf of Adaptive Propulsion Systems and now AVEC has contracted them directly to transfer the technology to the licenses.
The company also announced that on Tuesday, July 14th 2009, an open house will be held at EngineTec demonstrating the engines and generators. Invitations are extended to all shareholders and are being sent to Manufacturers of cars, trucks, gensets, elevators, electric motors, environmental groups, state and local officials in Virginia, members of Congress and the Obama administration.
Engines will be run on "Palm Oil" only showing the world's first engine to create this power level on a non fossil fuel.
Electric Motors capable of 98% efficiency will be operated to show the enormous energy savings the United States could have by deploying these motors in mass quantities. AVEC wishes to share this technology in order to improve the energy supply market and bring clean fossil free power to the world.
Other important events the Company wishes to announce include:
The Gas Cam Engine 245hp 1140 ft lb of torque gasoline engine will now be shipped to EngineTec for production modeling in order to complete its contract on the first 200 engines which have been ordered for marine use.
Modification of the Malaysian GENSET contract whereby the purchaser will ship Barrels of "Palm Oil" now to EngineTec and pay for the testing and calibration of the engine for maximum "Palm Oil" power output. All Data from this agreement will remain the sole property of AVEC.
Negotiations are in final stage for a Far Eastern engine and generator production and assembly facility to take advantage of the vast opportunities that are present in that region using "Palm Oil".
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.
Contact:
Axial Vector Energy Corporation
Phone: 971 4 887 5351
inquiry@axialvectorenergy.com
or
Redwood Consultants, LLC
Jens Dalsgaard (415) 884-0348
Investor Contact
www.axialvectorenergy.com
