Axial Vector™ Grants an Expansion of Manufacturing Rights of Its Technology by Licensee to Include the United Arab Emirates
Oct 4, 2005
PORTLAND, Ore., Oct. 4 /PRNewswire-FirstCall/ — Axial Vector™ Engine Corporation (OTC Bulletin Board: AXVC), a company developing exciting and potentially revolutionary internal combustion engine technologies, announced today that it granted the request by Adaptive Propulsion Systems (APS) to expand its license to include the United Arab Emirates (UAE) military. APS has the exclusive License to manufacture, sell and service the complete range of the Axial Vector engine and generator technologies to the Military of the United States and the Military of all NATO Member Countries. The terms, conditions and royalties for the UAE are identical to those of the original license granted for the U.S. and NATO.
About Axial Vector™ Engine Corporation
Axial Vector Engine Corporation is a publicly traded company that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine and generator technologies.
We believe the fundamental economic conditions that ruled since the development of the internal combustion engine over 100 years ago no longer exist. In today's world of high fuel and oil costs, energy efficiency, weight, and space are key considerations.
We are developing and commercializing an exciting and potentially revolutionary internal combustion engine. Our engines are lighter, smaller and have fewer parts than a traditional engine. They are able to run on multiple fuels while making more power at lower RPMs than traditional ones. These innovative machines will be suitable replacements for existing engines in a number of industrial categories.
Key markets for the Axial Vector™ Engine include a number of specific military and industrial applications. Additionally, we are developing a family of electric power generators (GENSETS) incorporating our unique Axial E-Flux technology. The GENSETS have a high power density, will consume less fuel per unit of electrical power output and are considerably smaller than any known internal combustion engine generators and the control is totally and dynamically integrated with the AV Engine.
For further information; Dr. Raymond Brouzes, President Axial Vector™ Engine Corporation 503-471-1348 info@axialvectorengine.com http://www.axialvectorengine.com
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, competition, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
SOURCE Axial Vector Engine Corporation
Source: PR Newswire (October 4, 2005 - 9:05 AM EDT)
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