AVEC Corporation (fka AVEC)

[deepsea104]

Axial Vector Energy Corporation Announces Successful Demonstration of Engine Running Non-Fossil Fuel

* Press Release
* Source: Axial Vector Energy Corporation
* On Wednesday July 15, 2009, 8:18 am EDT

*
Buzz up! 0
* Print

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC - News) (Frankfurt: BAE1 - News) announced today a successful performance demonstration of its engine running on palm oil (http://en.wikipedia.org/wiki/Palm_oil), a non-fossil fuel. The demonstration was a required milestone in the recently announced licensing agreement with Premier Group (http://premiergroup.com.my), and should lead to further milestone payments from Premier Group to Axial Vector Energy per its agreement.

The demonstration was significant in that it proved a greater capability for palm oil producing nations to generate power using a very inexpensive native alternative to imported conventional fuels. It was also useful for showing that certain biofuel feedstocks, such as palm oil, can be used producing significantly less CO2 emissions in AVEC engines than conventional fossil fuels in low emission conventional engines.

In addition to running less expensive alternative fuels, AVEC engines are lighter and smaller than conventional engines, incorporate approximately 80% fewer parts than conventional engines, require less maintenance, have a high power-to-weight ratio and are less costly to produce and operate. They are also considerably cleaner with fewer emissions; are capable of using multiple fuel types, including diesel, JP5 and JP8 fuels, kerosene, bio-diesels, ethanol, and other blends of these fuels; and can be converted to burn natural gas or propane. The engines can be controlled electronically, in remote areas, with remote diagnostics, alone or in combination with generator sets.

AVEC also successfully demonstrated its new high-power "Axial Flux" coreless 98.5% efficient electric generator. This was significant since licensee Premier Group has a first right of refusal to license AVEC electric motors or coreless generators, and may opt to produce its own production facility.

Sanjai Chhaunker, President and CEO stated, "This successful demonstration of our engines using palm oil only is a long awaited milestone. We will now proceed with the licensing and market awareness programs presenting the value of our products to the world's attention."

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 [e-mail].