SOURCE: Axial Vector Engine Corp.

March 09, 2010 06:41 ET

Axial Vector Provides Update on Saudi Gulf Environment Forum, in Jeddah, Kingdom of Saudi Arabia

DUBAI, UNITED ARAB EMIRATES and JEDDAH, KINGDOM OF SAUDI ARABIA--(Marketwire - March 9, 2010) -  Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) announced an update today on the Saudi Gulf Environment Forum (, March 7th-9th, hosted this year in the Kingdom of Saudi Arabia, under the patronage of His Majesty King Adbdullah bin Abdulaziz Al Saud.

Axial Vector's Chairman, Mr. Samuel Higgins gave a speech on "Next Generation Technology" and spoke of both the companies' engines and generators as well as its JV interest in Petro Avec which removes sulphur from oil.

Immediately after his speech, he then participated in a panel discussion entitled "Oil, Gas and Renewable Energy-Integration Rather Than Competition."

This panel was chaired by His Royal Highness Prince Abdulaziz Bin Salman, Bin Abdulaziz- Assistant Minister for Petroleum Affairs.

A transcript of Mr. Higgins speech has been posted on the company's website and pictures and articles featuring AVEC technology were published today in both the Arabic and English versions of Saudi Newspapers. These will be added this coming weekend to the web site as well.

Further a video replay of the speech will be provided this weekend by the Government to the company and that will also be posted as a link for download and viewing on the web site.

Multiple Confidentiality agreements have been signed by the company with officials from Government, Research Universities and Private companies covering both Engine/Generator technology and the Petro Avec sulphur removal technology.

Company management has extended their stay in the Kingdom of Saudi Arabia to have ongoing discussions.

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.

Contact Information

  • For further information, please contact:

    Samuel Higgins
    Axial Vector Energy Corporation
    Telephone: +9714 887 5351
    Facsimile: +9714 881 7835

    Jebel Ali Free Zone
    LOB21- F07
    Dubai, United Arab Emirates

    Building # 1, 1397 Taylor Farm Road
    Virginia Beach, VA 23453
    United States