Axial Vector Engine Corporation announced the receipt of the company’s first ever revenue payment totaling $500,000. Axial Vector received their first royalty payment from EASTCOM LTD and will begin production of two hundred AVEC Gas Cam engines immediately.
Consequently, Axial will also begin to proceed with various commercialization processes at the present time. Such processes will include new technology licensing, rapidly seeking new personnel, and developing relationships suited to important fuel and energy saving technologies.
“This is a major milestone for our Company and market validation for the many uses of our Axial Vector technology”, stated Samuel Higgins, President and CEO. “As our engines are rolled-out and become more visible in the market, we anticipate a groundswell of interest leading to significant new business opportunities.”
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