Axial Vector Energy Corporation Engines and Generators Proposed for U.S. Army Efficient Powertrain Technologies
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DUBAI, UNITED ARAB EMIRATES, Aug 17 (MARKET WIRE) --
Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT:
BAE1) announced today that it is proposing its Workhorse engine and
ancillary generator solutions in response to the U.S. Army's Efficient
Powertrain Technologies Broad Agency Announcement (BAA),
http://contracting.tacom.army.mil/baa/05RBAA1/topics.htm.
The U.S. Army is launching a four year program to develop new powertrain
technologies. Specifically, the Army is looking for a solution matching a
diesel engine, a longitudinal transmission, and a high output optimized
electrical generator device to provide exportable electrical power. The
winning solution must demonstrate the ability to reduce fuel consumption,
reduce noise, and operate on a variety of fuel combinations and mixtures.
The contract is anticipated to be funded $1.32M in FY10, $1.92M in FY11,
$1.75M in FY12, and $2.01M in FY13.
Regarding the BAA, AVEC President and CEO Sanjai Chhaunker remarked, "Our
patented commercial Workhorse engines and generators are uniquely
qualified for this effort and are fully corroborated by third party
performance test data. We are confident that we can meet the Army's
requirements for an exportable power generation system capable of running
inexpensively on a variety of fuel combinations and mixtures. Our
solution will save the U.S. military years of research. We also believe
that our equipment's ability to operate in extreme desert and jungle
environments will be compelling. We look forward to working with them."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that
owns, develops, invests in and licenses revolutionary technologies
including internal combustion engine and electric power generator
technologies that have unlimited potential in military, industrial and
commercial applications. AVEC and its partners are positioned to become
unrivalled leaders in international engine and energy markets with
technologies that produce more efficient, cost effective, environmentally
sensitive and versatile solutions for use in a wide variety of important
applications around the world.
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.
To be added to the Company's email distribution for future news releases,
please send your request to inquiry@axialvectorenergy.com.
CONTACT:
Axial Vector Energy Corporation
971 4 887 5351
inquiry@axialvectorenergy.com
Samuel Higgins
Chairman
info@axialvectorenergy.com
Jebel Ali Free Zone
LOB21-F07
Dubai, United Arab Emirates
www.axialvectorenergy.com
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