SOURCE: Axial Vector Energy Corp.

July 12, 2010 07:00 ET

Axial Vector Energy Corporation Issues "RFP" Request for Proposal From Numerous Manufacturers for "Initial Production Run of Axial Vector Work Horse Engine"

Proposals Due Mid October 2010

VIRGINIA BEACH, VA--(Marketwire - July 12, 2010) -  Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) announced today that AVEC has received offers from well known established manufacturers to produce the Work Horse Engine. This is due to a global renewed interest in multi-fuel non-petroleum based fuels. Accordingly, AVEC is issuing a Request for Proposal (RFP) to meet certain objectives and to satisfy expected strong global demand.

Sam Higgins, Chairman of AXVC, stated, "The mass production of the AVEC Workhorse engine remains our top priority. We are in the right space at the right time to execute our plan. With the 'production design review' finished with minor materials and design improvements our engineering drawings can now be used by OEM's to produce our engines very profitably to themselves, the consumer and AVEC."

With a focus on the heavy-duty truck and bus market, AVEC seeks global OEM engine manufacturers capable of short run production to establish real world production and engine testing. AVEC expects the following objectives to be met under this Statement of Work:

  • Task A -- Detail how the OEM will meet production cost, quality and delivery targets.

  • Task B -- Demonstrate past experience in prototype quantity runs of engine production.

  • Task C -- Demonstrate the ability to do initial testing and vehicle integration testing.

RFP documents may be accessed and downloaded from the AVEC Website.

Written technical questions are due September 1, 2010 and the Proposals are due October 15, 2010.

Questions are to be directed to attention of RFPinfo@axialvectorenergy.com. The subject line of all email correspondence pertaining to this effort should contain the RFP number and the phase Technical Questions.

About Axial Vector Energy Corporation

Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest 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.

Contact Information

  • Investor Contact:
    Redwood Consultants, LLC
    415-884-0348

    Building #1, 1397 Taylor Farm Road
    Virginia Beach, VA 23453
    United States
    T: +1 757 468 5102
    www.axialvectorenergy.com