Axial Vector™ Engine Corporation Announces Beta Site Agreement with Termica del Noreste, S. A. of Panama
Jul 11, 2006
Portland, Oregon, July 11, 2006-Axial Vector™ Engine Corporation (OTC Bulletin Board: AXVC) announced today that on June 27, 2006, Axial Vector' Engine Corporation signed an agreement with Termica del Noreste, S. A. of Panama to operate a Beta Test site at the Saboga Power Plant facilities within the Republic of Panama. AVEC expects delivery of a 352 horsepower / 200 kilowatt (kW) GENSET to be on site in Panama before mid-October 2006. The Beta Site testing of the GENSET will be for the duration of some 4,000 hours of operation. The 4,000 hours of operation is part of a statistical test procedure to confirm the 40,000 hours (4.56 years) of operation between major overhauls. Equally important to the reliability data is the continuous gathering of data to confirm long-term efficiency of electric power production and the amount of energy in BTUs required per kilowatt hour of electric power generated and the monitoring of emissions reduction.
The 200 kW Axial Flux coreless GENSET is designed for a continuous output of 200 kW and a peak output of 220 kW operating between 1100 to 1200 rpm.
Dr. Raymond Brouzes, President and CEO of Axial Vector™ Engine Corporation stated, "We are excited to demonstrate, in real time and at a Power Generating Facility, the Axial Vector GENSET where we shall collect data monitoring the GENSET's anticipated fuel efficiency, reliability and cost reduction of each kWh of electricity produced.
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 and generator 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. The internal combustion engine as we know it today may never comply with mandated pollution standards and meet the strong demand for cleaner and far greater fuel-efficiency engines. We see the Axial Vector™ as the engine design that will comfortably meet these challenges, and more.
Key entry markets for the Axial Vector™ Engine include a number of specific military and industrial applications. Additionally, we are developing a family of Axial Flux electric power generators that shall operate in a fully integrated fashion with our unique Axial Vector™ Engine technology. The resulting GENSET will consume less fuel per unit of electrical power output (kWh) and are considerably smaller than any known internal combustion engine generators.
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:
DR. RAYMOND BROUZES, PRESIDENT & CEO
One World Trade Center
121 SW Salmon Street, Ste 1100
Portland, OR 97204
503-471-1348
RAYMOND.BROUZES@AXIALVECTORENGINE.COM
REDWOOD CONSULTANTS, LLC
+1 415 884-0348
INVESTORINFO@REDWOODCONSULTANTS.COM
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