Axial Vector™ Engine Corporation Hires Prior Onan Senior Engineer-Executive and Senior Consultant to Caterpillar to Oversee Electrical Generator Development
Company announces appointment of Mr. Oyvin Haugan to develop ultra efficient 'Axial E Flux Generators'
Sep 26, 2005
PORTLAND, Ore., Sept. 26 /PRNewswire-FirstCall/ — Axial Vector™ Engine Corporation (OTC Bulletin Board: AXVC), a company developing exciting and potentially revolutionary internal combustion engine technologies, announced the appointment of Mr. Oyvin Haugan as Engineering Manager — Generators to oversee the further development of the Company's line of electrical generators (GENSETS).
Mr. Haugan comes to the company from Caterpillar, a well known technology leader and the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. Mr. Haugan applied axial flux permanent magnet generators and motors to Caterpillar's new electric drives. The new 'Axial E Flux Generators' will be the first electronic controlled GEN SET and inverter system and will seamlessly and digitally integrate with the Axial Vector Engine.
Oyvin has developed generators and automated production lines for Onan's RV generators. Onan is a subsidiary of Cummins Inc. and a world leader in the design and manufacture of consumer and commercial power generation products. He has been credited with increasing their market share to over 90% while maintaining a 55% gross margin.
He has made both prime and standby generators and power systems including windmill generators. He developed the present and very successful generator system for the 2.5 and 5-ton trucks for the military. He has also made electric propulsion systems for modern locomotives and light rails.
Here is Oyvin's description of this experience: 'I have over the years made many successful products and projects that made a lot of money for the companies I made them for. But the permanent magnet 'Axial E Flux Generators' and motors have the potential of outperforming anything I have ever seen. They are less than a third of the physical size with a much higher performance and efficiency than even the most compact induction machines and I am delighted to join the top professionals of Axial Vector Engine Corporation.'
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 technologies.
We believe the fundamental economic conditions that ruled since the development of the internal combustion engine over 100 years ago no longer exist. In today's world of high fuel and oil costs, energy efficiency, weight, and space are key considerations.
We are developing and commercializing an exciting and potentially revolutionary internal combustion engine. Our engines are lighter, smaller and have fewer parts than a traditional engine. The engines are able to run on multiple fuels while making more power at lower RPMs than traditional engines. These innovative engines will be suitable replacements for existing engines in a number of industrial categories.
Key markets for the Axial Vector™ Engine include a number of specific military and industrial applications. Additionally, we are developing a family of electric power generators (GENSETS) incorporating our unique Axial Vector™ technology. The GENSETS will consume less fuel per unit of electrical power output and are considerably smaller than any known internal, combustion engine generators.
For further information; Dr. Raymond Brouzes, President Axial Vector™ Engine Corporation 503-471-1348 info@axialvectorengine.com http://www.axialvectorengine.com
SOURCE Axial Vector™ Engine Corporation
Source: PR Newswire (September 26, 2005 - 1:41 PM EDT)
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