Axial Vector Energy Corp. (AVEC) is a global solutions provider with interests in revolutionary technologies such as internal combustion engines and electric power generator technologies for military, industrial and commercial applications.
AVECâ€™s engines are smaller and lighter than conventional engines, and because they have roughly 80 percent less parts than conventional engines, they also require less maintenance and cost less to produce and operate. AVEC engines also run on cost efficient alternative fuels; the companyâ€™s most recent announcement supports this feature.
AVEC today announced the results of its recent demonstration of its palm-oil fueled engine. The successful performance was a required milestone in accordance with its licensing agreement with Premier Group, and is expected to generate additional milestone payments from Premier Group.
The demonstration showed palm oil to be an inexpensive and local alternative to imported conventional fuels. It also reaffirmed that biofuel feedstocks, including palm oil, emit far less CO2 in AVEC engines than conventional fossil fuels, and sets the company on track to follow through with its marketing plans.
“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,” Sanjai Chhaunker, president and CEO of AVEC stated in the press release.
The company said it also successfully demonstrated its coreless, 98.5 percent efficient electrical generator, the Axial Flux. Per the agreement with Premier Group, Premier Group has a first right of refusal to license AVECâ€™s products.
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