Emirates International Capital Advisory to Purchase Adaptive Propulsion Systems.
December 6, 2007
Dubai, United Arab Emirates — December 6, 2007 — Axial Vector Engine Corporation (Pink Sheets: AXVC-NEWS; Frankfurt Symbol: BAE1) today announced that one of its largest shareholders Emirates International Capital Advisory has signed a Letter of Intent to purchase in an all cash transaction Adaptive Propulsion Systems LLC.
Adaptive is the military licensee and technology development contractor for Axial Vector on its "workhorse" multi fuel engines and its "coreless generators".
This additional multi million dollar investment by Emirates is designed to secure all aspects of the Axial technology to the benefit of Axial shareholders and future customers. Axial Vector Board of Directors has consented to this purchase and the transfer of limited military licensing rights from Adaptive Propulsion Systems to Tactronics Holdings LLC.
This transfer of Axial technology military sales rights applies to the United States Military and the militaries of the United Kingdom and Australia under the same 20% gross royalty payments being made to Axial.
The proposal of EICA is to expand the staff of Adaptive Propulsion Systems in its 18,000 sq ft facility in Detroit Michigan, USA in order to gain market entry faster into the next generation of its technology as well as a quicker rollout of larger and smaller engines and Gensets.
Ahmed Khalifa acting CEO and Axial Vector Director stated "Dubai and the United Arab Emirates are leading the way in many areas of global growth and development. Building engines and gensets in Dubai is now under consideration as well as licensing and Joint Ventures."
Arash Masom, EICA Managing Director said "This additional multi-million dollar investment in Axial technology shows our commitment to vastly increase the companies ability to deploy these breakthroughs while simultaneously adding to the value proposition of Axial Vector Engine Corporation."
About Emirates International Capital Advisory
Emirates International Capital Advisory (EICA) www.emiratescapital.net is a Dubai based advisory firm chaired by His Royal Highness Sheikh Marwan bin Mohammed bin Rashid Al Maktoum. The firm provides advisory services on investments in the United Arab Emirates and abroad on behalf of its clients in various aspects of commerce.
The firm actively seeks out opportunities to invest its capital by taking positions in ventures that have promising returns. EICA continuously seeks out niche markets that have been overlooked and targets best in class solutions and groundbreaking technologies to bring to market.
EICA's highly professional staff, coupled with its vast network of resources, provides it with agility to quickly mobilize resources to secure strategic positions. Drawing upon 25 years of financial and advisory expertise, EICA is able to methodically and successfully execute, establishing a position as one of the leading 'home bred' advisory firms in the region.
Axial Vector™ Engine Corporation is a publicly traded company (OTC Pink Sheets: AXVC) that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine technologies. AVEC is 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.
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:
One World Trade Center
121 SW Salmon Street, Suite 1100
Portland, Oregon USA
(503) 471 1348
www.axialvectorengine.com
Axial Vector Engine Corporation
503-471-1348
avec@emiratescapital.net
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