Axial Vector™ Engine Corporation Posts Updated Letter on Website
Jun 13, 2006
PORTLAND, Ore., June 13 /PRNewswire-FirstCall/ - Axial Vector™ Engine Corporation (OTC Bulletin Board: AXVC - News) posted today an updated letter on its website.
Dear Shareholder:
We are rapidly approaching the completion of the first phase of the Axial Vector Engine Corporation (AVEC) Strategic Plan. This phase consisted of the design, development and manufacture of: (a) our high torque, high fuel efficient digital Axial Vector Engine (b) our mechanical, non-digital version of the Axial Vector Engine (c) our high efficiency Axial Flux Generator fully integrated with the engine, rectifier and inverter as a unique generator set (GENSET) and (d) our high efficiency Axial Flux Electric Motor.
The passage from the Development Phase to the Business Phase of our Strategic Plan will be celebrated with the firing-up of our 352 HP engine in the second week of July. Marriage of the 352 HP engine with two 100 kW generators will take place in early August producing our first 200 kW GENSET of a family ranging from 15 kW to 1000 kW. We shall be pleased to promptly share video footage of the happy events on our website, www.axialvectorengine.com.
The GENSET has been designed and built for 40,000 hours between major overhauls. Before selling the first GENSET, we shall have the engine and generator placed in test cells for at least 400 hours of performance and endurance evaluation by two well respected independent testing firms in Detroit. Their independent test results shall also be used in the UL and EPA certification process. While the third-party tests are underway, we shall initiate GENSET testing at three to four "real world" Beta sites, (including a commercial power generation station) for further trials and data collection lasting up to 4,000 hours which shall include cost per kWh. The results of the trials shall be reported at the PowerGen International in Orlando FL in late November 2006 and on the AVEC website. We expect the results will move our GENSET to rapid acceptance for many applications in developed and developing countries where electrical grids are stretched to capacity or are non-existent and there is a need for a cheaper and more reliable power supply.
We shall establish The AVEC Center of Excellence for Propulsion and Power Generation in Detroit. The Center of Excellence will play a key role in quality control and the development of new products. Co-housed at the Center of Excellence will be key groups such as Engineering; Production; New Product Development; Marketing and Sales; Legal; Finance; Licensee Program Management; Patent and IP Protection; Human Resources; Environment, Health and Safety. First amongst the new products we develop will be a diesel-electric hybrid power train system using our existing multi-fuel high torque engine, our high efficiency generator and our high efficiency electric wheel motors. AVEC is very confident that it has a winner in the hybrid arena where few have excelled to date. My colleagues and I at Axial Vector thank you for your loyalty and continued support.
Yours truly,
Raymond Brouzes
President and CEO
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 technologies. We are applying these technologies to develop an exciting, new, smaller and lighter internal combustion engine that produces significantly greater horsepower and three times more torque on less fuel than conventional engines of similar size. The internal combustion engine as we know it today may never comply with mandated pollution standards and meet the strong demand for cleaner and far greater fuel-efficiency engines. We see the Axial Vector™ as the engine design that will comfortably meet these challenges, and more.
Key entry 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 incorporating our unique Axial Vector™ technology. The generators will consume less fuel per unit of electrical power output and are considerably smaller than any known internal combustion engine generators. 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.
For further information please contact:
Dr. Raymond Brouzes, President and CEO
One World Trade Center
121 SW Salmon Street, Ste 1100
Portland, OR 97204
503-471-1348
Infor@axialvectorengine.com
Redwood Consultants, LLC
+1 415 884-0348
Investorinfo@redwoodconsultants.com
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