Axial Vector Energy Corp. (AXVC.PK) Announces New Sales and Production Facility

In the company’s news yesterday,

Axial Vector Energy Corp. announced that it has opened its Sales and Production Facility in Virginia Beach, Virginia, USA. The 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 Virginia Beach based engineers were successful in completing Axial’s multi-fuel workhorse engine and the company is confident they will produce similar results productionizing other engine programs. According to the press release, 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.

The company chose Virginia 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.”

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