Axial Vector™ Announces Payment in Full of Development Contract
Jan 30, 2006
PORTLAND, Ore., Jan. 30 — Axial Vector™ Engine Corporation (OTC Bulletin Board: AXVC - News), a company developing exciting and potentially revolutionary internal combustion engine technologies, announced today it has paid in full $3.1 million for the design, fabrication and delivery of one prototype of each of the GENSETs that shall make up a family of GENSETS ranging from 15 kW to 1000 kW. The output capacities in kW of the individual units are 7.5, 15, 25, 50, 100 and 200. Intermediate generating outputs of 400, 600, 800 and 1000 kW can be achieved by 'ganging' two or more of the 200 kW GENSET.
The first unit to be delivered will be the 200 kW light-weight and high-efficient Axial Flux generator driven by a 352 HP compact, light-weight, multi-fuel and fuel efficient Axial Vector engine. The delivery date of the 200 kW is targeted for early in the second quarter of 2006. The other size prototype GENSET units are expected to follow shortly afterwards. The 200 kW unit is planned to undergo Beta testing in early June 2006 in as many as four countries with different climatic and environmental conditions. Dr. Raymond Brouzes indicated 'The four Beta sites will be an ideal opportunity for visits from potential major clients, licensees and manufacturers of our engine and generator technologies from around the globe to evaluate the low cost performance and advantages of our technologies prior to the launch of the sale of licenses for distributorship in key markets'.
Our broad-based technology and innovations allows the AVEC to increasingly position itself as a solutions provider in the entire field of propulsion and power generation rather than manufacturers of an engine or a generator. We envision providing solutions and consulting services as an important element in electrification, especially in developing countries. This might include developing countries that wish to use our products for electrifications without major grid systems and need a bit of help or it may involve working with firms that needs a special engine for specific task.
About Axial Vector Engine Corporation
Axial Vector Engine Corporation (AVE) is a publicly traded company that owns, develops and licenses proprietary intellectual property surrounding a unique and revolutionary multi-fuel internal combustion engine and generator technologies.
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. In today's world of high fuel and oil costs, energy efficiency, weight, and space are key considerations.
Key markets for the Axial Vector™ engine include a number of military and industrial applications. Additionally, we are developing a family of electric power generators (GEN SETS) incorporating our unique Axial E-Flux technology. The GEN SETS 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.
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.
Contact: Redwood Consultants, LLC, +1-415-884-0348, for Axial Vector Engine Corporation.
SOURCE Axial Vector Engine Corporation
Source: PR Newswire (January 30, 2006 - 9:02 AM EST)
News by QuoteMedia www.quotemedia.com
Watch the NEW (10/30/06) Video of Workhorse 7.2 engineThis new video of the Workhorse 7.2 shows the revolutionary
engine producing power quietly and vibration-free
Launch Windows Media Video >>