Axial Vector Engine Corporation recently announced the receipt of $45 million in project financing from Emirates International Capital Advisory (EICA), a global hedge fund management firm. Axial is a U.S. based firm with a branch office in Dubai, focused on the development of a 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. The $45 million in financing will be primarily used for Axial’s engine and generator technology rollout.
Axial’s engine technology is already in production for military use in a partnership venture between the company and Adaptive Propulsion Systems. The potential for other commercial uses, vehicle engines and powering electric generators, could be a much larger venture. The creation of a fuel-efficient internal combustion engine that is smaller yet more powerful than those on the market would revolutionize the industrial world. Automotive companies and power companies alike would pay a significant amount for such products or for use of the patented intellectual property owned by Axial.
The chairman of Axial, Ahmed Khalifa, commented on the additional funding by stating, “We are delighted to have completed this agreement for financing and shareholder protection. While this agreement protects the investment of EICA, our largest shareholder, it also assures that the interest of our thousands of shareholders around the world are also protected as we begin the long awaited launch tomorrow of our products which have such enormous potential for revenue and profits.”
EICA is a reputable firm with a long record of producing above-average returns to its investors in their fund. They currently have investments in real estate, technology, minerals and global equity markets in three continents. Most notably, EICA has a stronghold in Dubai, where construction costs are high, so the company has been making a large profit by quickly buying and reselling real estate. EICA is also a 16.2% owner of Axial Vector Engine Corporation, and has an option to purchase an additional 10% interest in the company further down the road.
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