Axial Vector Energy Corp. (AXVC.PK) Licensed to Produce Multi-Fuel Engines in Malaysia
Axial Vector Energy Corporation recently announced the sale of its first license to produce its multi fuel "work horse engines" in Malaysia. Premier Group, with headquarters in Kuala Lumpur, Malaysia signed the exclusive license agreement covering Malaysia, Indonesia and parts of Southeast Asia. The company agreed to produce a minimum of 5,000 workhorse engines to be configured for palm oil use only. The agreement calls for a non-refundable fee of $500,000 dollars as well as a durability pilot site for 5,000 hours. On completion of the durability testing, Premier will provide contract production in SE Asia for the engines, or…