Axial Vector’s "Rare Earth Magnet Generator Systems" will be sold to one of three Special Economic Zones in China. The sale price of the "Rare Earth Magnet Generator Systems" has been set at a minimum price of $5 million.

The negotiations are expected to be completed in February when the company executives will be travelling to China. An announcement in this regard has been made by the global solutions provider, Axial Vector Energy Corporation.

A "Strategic Framework Agreement" will also be negotiated by Axial Vector with a Chinese Auto Company. The agreement is for testing and licensing the "AVEC WORKHORSE ENGINE" for heavy duty trucks. Non fossil fuels like "Palm Oil" and all hydrocarbon fuels can be used by the only true "Multi Fuel Engine," the "AVEC WORKHORSE ENGINE." At a fraction of the fuel cost and environmental pollution, heavy-duty trucks can be powered by this engine.

In a release, Samuel Higgins, chairman and CEO, Axial Vector said, "This sale of our generator systems and license on our engine will provide the needed working capital and revenue to continue the commercialization of the product pipeline and the new patents we have filed."

As outlined by the Export Administration Regulations or EAR, the company will apply for export certification of its products this week. The application will be made to the U.S. State Department under the Commerce Control List or CCL (News - Alert) of regulated commercial items. In order to complete the sale, many "dual-use" items that have commercial, military or proliferation applications and clearance will be needed.

Last week's visit of President Hu with President Obama has further opened the China/USA pipeline of "Green Technology." In a release, Zhang Guobao, head of National Energy Administration said, "As the world's two largest energy consumers, China and the U.S. will also join hands for renewable energy development. The two countries have big potential for collaboration in the area. The U.S. has advanced technology, and China has a huge market."

Wind farms will be able to generate commercial electricity with "Rare Earth Magnet Generator Systems" from Axial Vector. The commercial electricity generated will be at a fraction of the wind speed of conventional turbines. This will therefore result in a huge economic benefit.

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