SOURCE: Axial Vector Engine Corp.

October 19, 2009 06:20 ET

AVEC Opens New Sales and Production Facility in Virginia, USA

DUBAI, UNITED ARAB EMIRATES--(Marketwire - October 19, 2009) - Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) announced today the opening of its Sales and Production Facility in Virginia Beach, Virginia, USA. The opening of this new facility will allow the consolidation of new product developments, license transfers, USA government grants and loans, as well as a sales and demonstration office.

The GasCam engine development and Micro Engine development programs will now be transferred to the new AVEC facility in Virginia.

The Virginia Beach based engineers were hugely successful in completing our multi-fuel workhorse engine and we are confident they will do the same productionizing our other engine programs. AVEC possesses large order books on all of these products which can generate tens of millions in revenue for the company starting in the fourth quarter of 2009.

Virginia was selected over three other States for multiple reasons including competitive operating cost, quality work force, excellent education systems and a variety of State-sponsored business incentives. Some of these incentives include the Governor's Opportunity Fund, the Virginia Jobs Investment Program (VJIP), and the Virginia Investment Partnership Act.

Sanjai Chhaunker, President and CEO of AVEC, stated, "Having all of our engines, generators, and engine control systems under one roof provide our licensees a one-stop 'turnkey' method to buy or license our ultra clean, environmentally friendly technologies." Mr. Chhaunker further added, "We have received positive feedback on our loan and grant applications and can now showcase our complete line to the State and Federal government officials who will be visiting soon."

About Axial Vector Energy Corporation

Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

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