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Axial Vector Energy Completes Technology Transfer of Its Engines and Generators and Closes the Acquisition of Adaptive Propulsion Systems LLC.

Publication: Business Wire
Publication Date: 14-APR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
DUBAI, United Arab Emirates -- Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC) (Frankfurt: BAE1) announced today that it has successfully completed its technology transfer under its development contracts with Adaptive Propulsion Systems LLC (APS), a subsidiary of Tactronics Holdings. The Company further announces it has acquired 100% ownership of Adaptive Propulsion Systems LLC (APS) as part of its continuing investments in energy efficient and environmentally friendly technology.

APS was acquired without liabilities, and it will be at the discretion of Tactronics to retain salaried employees or leased real estate property. Significant assets that were acquired include the...



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