Axial Vector Energy Corp. (AXVC.PK) Forms Joint Venture with Petrosonics, LLC
Yesterday, Axial Vector Energy announced that it has formed a Joint Venture with Petrosonics, LLC of Reno, Nevada. This new Joint Venture will be named Petro-AVEC. AVEC Acquisitions Corporation, a wholly owned subsidiary of Axial Vector, and Petrosonics have formed the Joint Venture to develop, finance and market Petrosonics' sulfur removal technology globally. Under the terms and conditions of the Joint Venture, AVEC Acquisitions will provide an initial $6.8 million of capital contributions. First, Petro-AVEC will concentrate its development, sales and marketing efforts in the worldwide refining industry. The Joint Venture will continue development of their proprietary technology for treatment…