Axial Vector Engine announced today that it has signed a MOU with Eastcom Ltd of London for the production of AVEC 195 horsepower 605 torque gasoline engines for civilian applications. Axial Vector Engine will receive a 20% gross sales roylty payable 50% in advance and 50% as each engine is produced.
A first run of 200 custom built engines, worth $25,000 per engine, have been pre-sold and will be installed in modified vehicles. The second phase will expand production to 2,000 engines, which will then be marketed to individuals looking for an extra edge in performance.
The CEO of the company, Smauel Higgins, stated, “This deal brings together the very essence of AVEC, our allegiance is not to any particular brand of automobile, we pledge our allegiance to the customer. The fact that our engine is small enough and compatible enough to fit in between the rear two tires of any vehicle sets us apart from anything the world has ever seen in terms of vehicle modification. We are extremely confident that this efficiency will soon be integrated into the watercraft industry.
Commenting at the signing of the deal, Arash Masom, Managing Director of Emirates International Capital Advisory, “We are proud to be involved in the final step of the commercialization process of the AVEC engines. Our client, Eastcom Ltd was shown the technology upon its arrival to Dubai and is has now inked the first deal with AVEC. This deal finally brings the superior power and efficient fuel consumption technologies of AVEC engine into everyday use, with oil prices at current levels, this product has arrived in a very timely manner.”
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