Axial Vector Energy Corp. (AVEC) focuses on the international engine and global energy markets by providing technology solutions for military, industrial and commercial applications. The company earlier this month announced that Muse Stancil will execute an independent review for AVECâ€™s Oxidating Desulphurization and Heavy Crude Oil Upgrading technology, which the company acquired through its joint venture (PETRO AVEC) with Petrosonics LLC.
Muse Stancil is a global consulting firm, focused on the energy industry, offering solutions for a variety of issues. Per its agreement with AVEC, Muse Stancil will evaluate the technology to determine the most effective commercialization strategy, as well as coordinate a plan to maximize the commercial development and deployment of the technology.
“Muse Stancil is the number one source of validated information to the refinery industry and we look forward to their global assistance in rapid deployment of PETRO AVEC technology,” AVEC Chairman Ahmed Khalifa stated in the press release.
PETRO AVEC currently has worldwide intellectual property patents protecting the technology, which removes sulfur, nitrogen and trace metals from petroleum through power sonic energy in a moderate pressure environment, while at the same time reducing oil density. With more than 1,500 claims are pending, the current patents for PETRO AVECâ€™s technology are spread throughout 42 countries, representing 55.7 percent of crude oil production, 30 percent of world crude oil reserves, and 40 percent of the worldâ€™s refining capacity.
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