SOURCE: Axial Vector Engine Corp.

October 26, 2009 05:40 ET

AVEC Vies for Dubai Award for Sustainable Transport Under Environmental Protection Category for Its Ultra Clean Hybrid Taxi

DUBAI, UNITED ARAB EMIRATES--(Marketwire - October 26, 2009) - Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) announced its entry for the Environmental Protection Category for the Dubai Award for Sustainable Transport 2nd Edition, under the patronage of HH Sheikh Hamdan Bin Mohammed Bin Rahid Al Maktoum, Crown Prince of Dubai & Chairman of Dubai Executive Council (http://www.rta.ae/wpsv5/links/dast/index.html). This award showcases Dubai's leadership in supporting sustainable transport to create a better world.

AVEC'S "ultra clean hybrid taxi" would provide the Dubai government a 50% fuel savings and a 75% reduction in exhaust gases for Dubai Taxi Corporation (DTC) at Roads and Transport Authority (RTA) fleet, which comprises approximately 3,500 vehicles deployed to deliver a number of service categories such as District Taxi, Airport Taxi, Hatta Taxi, Ladies Taxi, and Special Needs Taxi in addition to ordinary taxis.

AVEC is coordinating with other innovators in the Gulf Cooperating Council (GCC), as well as the United States, to deploy these next generation taxis to fleet, commercial and military markets. Sanjai Chhaunker, President & CEO of AVEC, stated, "We are honored to support the vision and leadership of Dubai in implementing this program under an 'accelerated rapid development program.'"

Multiple patent applications are being filed protecting all of the technological breakthroughs included in this program. Technical details will be released weekly as the patent applications are confirmed.

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.

About Dubai Award For Sustainable Transport, 2nd Edition

The Environmental Protection Category

The Environmental Protection Category is concerned with all initiatives and practices that make the use and operation of transportation more environmentally friendly by reducing its negative impacts. Specifically the initiatives must address one or more of the following aspects:

--  Initiatives and practices that led to decreasing the level and impact
    of air pollution resulting from various modes of transport
--  Initiatives and practices that led to decreasing the level and impact
    of noise or negative visual pollution resulting from various modes of
    transport
--  Initiatives and practices that led to decreasing the level and impact
    of pollution resulting from discarded fuels, lubricants, tires, batteries
    and other types of wastes transport modes
    

About Roads and Transport Authority

Since Dubai is one of the fastest growing cities in today's world, making the provision of high quality infrastructure facilities absolutely imperative, and since providing an advanced transport network for the people of Dubai has been high on the government's agenda, which is evident from its initiatives to enhance the public transport facilities and improve roads across the emirate to make travel safer and smoother, the Roads and Transport Authority (RTA) was formed by the decree number 17 for the year 2005.

RTA is responsible for planning and providing the requirements of transport, roads & traffic in the Emirate of Dubai, and between Dubai and other Emirates of the UAE, neighboring countries in order to provide an effective & an integrated transport system capable of achieving Dubai's vision & serving the vital interests of the Emirate.

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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