Thursday, April 16, 2009

Axial Vector Energy Corp. (AXVC.PK) Joint Venture Partner Awarded Multiple Patents in European Union

Axial Vector Energy Corporation announced this morning that its PETRO-AVEC LLC Joint Venture partner, Petrosonics LLC, was awarded European Patent Number 1 668 095/04 781 388.6. The patent protects the process by which sulfur and nitrogen bearing compounds are eliminated from diesel oil fractions through the use of sonic energy and an oxidizing agent, absent an aqueous phase. It also protects a related process that removes the resultant oxidized sulfur and nitrogen contaminants. According to the press release, the patent will remain in effect until August of 2029.

Petrosonics LLC’s process uses high power sonic energy in a moderate temperature, atmospheric pressure environment to diminish sulfur, nitrogen, and trace metals in petroleum, simultaneously reducing oil density. The process increases API (American Petroleum Institute) gravity (least specific gravity = highest API gravity) and volume. Through the patented process, sour crude is rendered less sour, making it a more useable product. The equipment necessary for this process is highly affordable, reliable, durable, and readily available from Germany.

The European patents complement U.S. Patent 7,081,196 and a number of other patents and pending patents in 42 different oil producing and oil refining nations. These 42 countries represent 55.7% of all crude oil production, 30% of world crude oil reserves, and 40% of the world’s refining capacity. More than 1,500 claims remain pending around the world.

Dr. Mark Cullen, Managing Director at Petrosonics, LLC commented, “Our second European patent protects a substantial portion of our technology for removing contaminants from diesel fuel and diesel fuel represents a large portion of the output of a typical refinery. We are particularly gratified with these awards in the European Union in that, as a major partner in the Patent Cooperation Treaty, the actions of the EU make award in the other Patent Cooperation Treaty countries that much easier. Given that the process is fully protected, is less expensive to deploy and operate than traditional technologies and is fully supported by commercial, off the shelf equipment, we see no barriers to licensing it to end users now.”

AVEC Chairman Mr. Ahmed Khalifa added, “We are ecstatic. This technology is the first major advancement in refining technology in decades and has great potential. We look forward to rapid licensing through Dubai-based PETRO-AVEC LLC.”

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