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Axial Vector Receives Notice of a U.S. Patent Allowance for New Internal Combustion Engine
Monday, September 17, 2007
Portland, OR -- Axial Vector Engine Corporation announced that the United States Patent Office has issued the company a notice of allowance for a patent titled "Internal Combustion Engine".
A notice of allowance is a written notification that a patent application has cleared an internal review and is nearing issuance.
"We are pleased to receive this notice of allowance on our new 'Internal Combustion Engine' because it serves to protect the intellectual property and proprietary technology we have developed. Our engines are producing over 3ft lbs of torque to every horsepower at half the weight and size of standard 'ICE' engines. We are in the process of installing one in a car using a magnetic clutch, whereby no transmission will be needed," said Samuel Higgins, Chairman of AVEC.
The company is currently in talks with a number of interested parties to issue one or more licensees to manufacturers. These negotiations with manufacturers, located in the Middle East and the Far East, are the final step towards allowing AVEC to move forward as a revenue producing technology developer.
About Axial Vector Engine Corporation
Axial Vector Engine Corporation is a publicly traded company that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine technologies. We are applying these technologies to develop an exciting, new, smaller and lighter internal combustion engine that produces significantly greater horsepower and three times more torque on less fuel than conventional engines of similar size.
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
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