AVEC Corporation (fka AVEC)

[deepsea104]

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

o
Buzz up! 0
o Print

*
Companies:
o AXIAL VECTOR ENGINE
o AXIAL VECTOR ENGINE

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.
Related Quotes
Symbol Price Change
AXVC.PK 0.1550 0.0000
Chart for AXIAL VECTOR ENGINE
{"s" : "axvc.pk,bae1.f","k" : "c10,l10,p20,t10","o" : "","j" : ""}

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 [e-mail].