AXIAL VECTOR ENERGY CORPORATION
ANNOUNCES SUCCESSFUL DEMONSTRATION OF ENGINE RUNNING NON-FOSSIL FUEL. DUBAI, United Arab Emirates (BUSINESS WIRE) - July 15, 2009 - Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC) (Frankfurt: BAE1) announced today a successful performance demonstration of its engine running on palm oil (http://en.wikipedia.org/wiki/Palm_oil), a non-fossil fuel. The demonstration was a required milestone in the recently announced licensing agreement with Premier Group (http://premiergroup.com.my), and should lead to further milestone payments from Premier Group to Axial Vector Energy per its agreement. The demonstration was significant in that it proved a greater capability for palm oil producing nations to generate power using a very inexpensive native alternative to imported conventional fuels. It was also useful for showing that certain biofuel feedstocks, such as palm oil, can be used producing significantly less CO2 emissions in AVEC engines than conventional fossil fuels in low emission conventional engines. In addition to running less expensive alternative fuels, AVEC engines are lighter and smaller than conventional engines, incorporate approximately 80% fewer parts than conventional engines, require less maintenance, have a high power-to-weight ratio and are less costly to produce and operate. They are also considerably cleaner with fewer emissions; are capable of using multiple fuel types, including diesel, JP5 and JP8 fuels, kerosene, bio-diesels, ethanol, and other blends of these fuels; and can be converted to burn natural gas or propane. The engines can be controlled electronically, in remote areas, with remote diagnostics, alone or in combination with generator sets. AVEC also successfully demonstrated its new high-power "Axial Flux" coreless 98.5% efficient electric generator. This was significant since licensee Premier Group has a first right of refusal to license AVEC electric motors or coreless generators, and may opt to produce its own production facility. Sanjai Chhaunker, President and CEO stated, "This successful demonstration of our engines using palm oil only is a long awaited milestone. We will now proceed with the licensing and market awareness programs presenting the value of our products to the world's attention." For Further Information Please Contact: Axial Vector Engine Corporation |