Joint venture signed to build AVEC powered consumer car and race car

Axial Vector Engine Corporation (BULLETIN BOARD: AXVC) announced today the signing of 50-50 Joint Venture agreement with Emirates International Capital Advisory of Dubai United Arab Emirates.

Samuel Higgins, Chairman and CEO of Axial Vector Engine stated

"We are honored and delighted to have this Joint Venture with Emirates International Capital and we look forward to having our engines produced as a "home grown" business for Dubai expanding quickly to a true world class market."

The consumer car will feature the AVEC gasoline powered engine (GASCAM) producing 200 hp and 640 ft lbs of torque.

Due to the ability of the engine to have two drive shafts protruding from the engine, the designers have decided to mount the engine horizontally between the rear wheels.

This revolutionary design will allow 640 ft lbs of torque to be delivered to both rear wheels instantaneously and simultaneously.

A magnetic clutch is used which will transmit torque and speed without contact therefore eliminating the need for a transmission or a gearbox.

The dry engine weight of 265 lbs is a fraction of any other internal combustion engine and the combined weight reduction of all parts will create a very large increase in miles per gallon and reduced maintenance.

The racecar has all of the above features but will utilize two separate engines on both the front and rear sets of wheels giving unparalleled speed and acceleration for its weight.

A technology license is being provided by AVEC to the JV. EICA is contributing 100% of the capital and has retained Digi - Tec facilities in Dubai to develop and test the prototype vehicles in the quickest possible time.