SOURCE: Axial Vector Energy Corp.

November 04, 2009 06:10 ET

Petro Avec Wins World Finance Oil and Gas Industry Award for Best Innovation in Refining Technology

DUBAI, UNITED ARAB EMIRATES--(Marketwire - November 4, 2009) - Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) announced today its Petro Avec joint venture has been awarded the '2009 Best Innovation in Refining Technology' category by World Finance Magazine ( This prestigious award recognizes the important breakthrough of using 'Sono Chemistry' to remove sulphur to near zero from both refined product streams and heavy crude oil.

Other category winners of this prestigious award include Petrobras for Best National Company, Chevron for Best Fully-Integrated Company, and BP for Best Downstream Company. The complete list of the 2009 Oil and Gas Awards can be viewed at (

Sanjai Chhaunker, President and CEO of AVEC, stated, "We are honored to receive this award which recognizes Dr. Mark Cullen's breakthrough technology for oxidative desulphurization and heavy crude oil upgrades. The world's oil producers and environmental groups are now recognizing the enormous benefits of using our technologies to process hydrocarbons at much lower capital and production cost. Sulphur is the number one problem for oil refiners and is of grave concern for environmentalist throughout the world. Its removal to near zero levels constitute the largest change in hydrocarbon processing in a generation."

World Finance Magazine has also published in its November-December issue a feature story on the history and business development plan for the Petro Avec technology commercialization. This article is also available for viewing at the Axial Vector Energy Corporation's website (

About World Finance

World Finance is a financial magazine produced every two months by World News Media, based in the UK. It works in partnership with Reuters to provide news and data, and with Project Syndicate to provide commentary from international personalities. The magazine has included contributions from personalities such as Jeffrey Sachs, Nouriel Roubini, and Robert Shiller.


PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop, finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.

About Petrosonics, LLC

Petrosonics, LLC is a privately held, U.S. based oil refining and production technology company. Petrosonics' patented products and services utilize moderate power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.

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

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