Axial Vector™ Engine Corporation Announces Selection of Second Beta Site
Jul 19, 2006
PORTLAND, Ore., July 19 /PRNewswire-FirstCall/ - Axial Vector™ Engine Corporation (OTC Bulletin Board: AXVC - News) announced today the selection of an additional Beta site to be located in New Zealand. The Beta site will be operated by Dynamic Engines Limited (DEL) of New Zealand, the exclusive distributor of Axial Vector™ Engine GENSETs in New Zealand for commercial and personal applications.
The Beta site agreement has been signed. Meetings between the principals of DEL and the president of AVEC will be held in Detroit starting July 20, 2006. The GENSET to be tested will be the "Workhorse 7.2" engine designed to produce 352 horsepower and more than 1,000 ft lbs of torque.
After the Beta test site results are obtained, it is anticipated that DEL will continue their discussions with Fonterra of New Zealand.
Dr. Raymond Brouzes, President and CEO of Axial Vector™ Engine Corporation stated, "We are pleased to announce the location of our second Beta test site and we see this as an excellent opportunity to gather further GENSET performance data under different set of climatic conditions. We look forward to working with Dynamic Engines Limited to assist in the alleviation of a growing shortage of electrical power."
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 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 Axial Flux electric power generators that shall operate in a fully integrated fashion with our unique Axial Vector™ Engine technology. The resulting GENSET will consume less fuel per unit of electrical power output (kWh) 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 & CEO
One World Trade Center
121 SW Salmon Street, Ste 1100
Portland, OR 97204
+1-503-471-1348
RAYMOND.BROUZES@AXIALVECTORENGINE.COM
REDWOOD CONSULTANTS, LLC
+1-415-884-0348
INVESTORINFO@REDWOODCONSULTANTS.COM
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