ADAPTIVE PROPULSION SYSTEMS AND
AXIAL VECTOR ENERGY SCHEDULE TECHNOLOGY TRANSFER CLOSING DATE FOR APRIL
4TH, 2009 DUE TO SUCCESSFUL DEMONSTRATIONS LAST WEEK. DUBAI, United Arab Emirates - March 23, 2009 - Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC) (Frankfurt: BAE1) announces that it has scheduled April 4th, 2009 as the date to formally transfer technology from Adaptive Propulsion Systems to AVEC. The completed product development contract components including engines, generator systems level 2 engineering packages allow AVEC to now complete license agreements and Joint Ventures which have been pending the development completion for the last two years. Mr. Ahmed Khalifa, Chairman of AVEC commented, "It is a significant milestone for our Company to have outsourced completed assembly of these units and have them successfully tested. We are ready to move ahead with sales and licensing opportunities around the world knowing our revolutionary engines and generators can be produced in quantity and in a very profitable manner. The demonstrations last week and technical operating parameters were satisfactory to AVEC management and we look forward to the signing ceremony on April 4th to signify the next chapter in helping our energy starved world." Mr. Khalifa further stated, ”We plan to soon announce our new firm of project managers to guide the transfer of the technology from AVEC to license partners around the world. Combining this wonderful news with our recently signed Joint Venture PETRO AVEC (www.PetroAvec.com), the company is now implementing its business plan quickly to clean the oil and the air we all breath, run it through our engines using much less of it, and then powering our generators to get 40 percent more power for the same input." For Further Information Please Contact: Axial Vector Engine Corporation
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