Joint Venture Signed To Build AVEC Powered Consumer Car and Race Car.
September 5, 2007
Dubai, United Arab Emirates September 5, 2007 - Axial Vector Engine Corporation (OTC Bulletin Board: AXVC) announced today the signing of 50-50 Joint Venture agreement with Emirates International Capital Advisory of Dubai United Arab Emirates for production of an AVEC powered consumer automobile and a separate twin engine race car.
The consumer car will feature the AVEC gasoline powered engine (GASCAM) producing 200 hp and 640 ft lbs of torque. Due to the ability of the engine to have two drive shafts protruding from the engine, the designers have decided to mount the engine horizontally between the rear wheels. This revolutionary design will allow 640 ft lbs of torque to be delivered to both rear wheels instantaneously and simultaneously.
A magnetic clutch is used which will transmit torque and speed without contact therefore eliminating the need for a transmission or a gearbox.
The dry engine weight of 265 lbs is a fraction of any other internal combustion engine and the combined weight reduction of all parts will create a very large increase in miles per gallon and reduced maintenance.
The racecar has all of the above features but will utilize two separate engines on both the front and rear sets of wheels giving unparalleled speed and acceleration for its weight.
A technology license is being provided by AVEC to the JV. EICA is contributing 100% of the capital and has retained Digi – Tec facilities in Dubai to develop and test the prototype vehicles in the quickest possible time.
About Emirates International Capital Advisory
Emirates International Capital Advisory (EICA) is chaired by His Highness
Sheikh Marwan bin Mohammed bin Rashid Al Maktoum, of Dubai, United Arab Emirates. Under Sheikh Marwans' leadership, EICA is exporting the incredible vision and successes of Dubai to other areas of the world with promising investment opportunities.
About Axial Vector™ Engine Corporation
Axial Vector™ Engine Corporation is a publicly traded company (OTC Bulletin Board: AXVC) 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.
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:
Samuel Higgins
Axial Vector Engine Corporation
One World Trade Center
121 SW Salmon Street, Suite 1100
Portland, OR 97204 USA
503 471-1348
Email: Samuel.Higgins@AxialVectorEngine.com
URL: www.axialvectorengine.com
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