The ever-growing market of worldwide sales of electric motors of all sizes and capabilities is estimated to exceed one billion units annually. Energy consumption and the world’s need for alternative energy solutions to improve energy efficiency is a crucial issue for countries small and large throughout the world. Axial Vector Energy Corporation (AVEC) is one company that is capable of supplying the world’s needs.
Axial Vector owns, develops, and licenses revolutionary internal combustion engine and electrical power generator technologies for use in automotive, power generation, appliance, and military applications. The company intends to employ their patent-pending “axial flux” engine and generator set (GENSET) technologies to produce highly efficient, cost-effective, and environmentally sensitive multi-fuel engines and motors that are scalable across a wide range of applications and serve in both mobile and fixed-location settings.
Around the world, the proportion of electric energy consumed by electric motors and appliances is between 50% and 60%. In larger populated countries such as India, China and countries in southeastern Asia and Latin America, a higher demand for small and medium motors exists. Additionally, there is a greater demand for increased power production (electrification) in multiple countries in which GENSET will be able to meet the growing needs for prime power, distributed power, standby power, and portable power.
In China for example, more than half of their electrical usage is for electric motors. As China’s economy and electric power use continues to grow, motor sales are expected to also increase, which provides Axial Vector an enormous opportunity to integrate their GENSET technologies. Motor systems in China are generally much less efficient compared to systems in the United States and other developed countries.
The Chinese government is taking steps to develop markets for higher-efficiency products as electricity prices in the economically prosperous coastal areas are rising, and local governments turn to private power suppliers in order to avert power shortages and acquire energy-saving technologies. The privatization of electric power and the removal of government subsidies mean a very strong interest in high-efficiency systems such as Axial Vector’s.
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