DUBAI, UAE -- (Marketwire) -- 03/21/11 -- AVEC Corporation ('AVEC') (PINKSHEETS: AVECD) (FRANKFURT: BAE1) announced today it has acquired marketing rights to thirty four (34) countries for I POLE, the world's first 'Intelligent Solar Lighting System.' These countries constitute the majority of the 'solar belt' and represents over a third of the earth's population.
The I Pole is currently manufactured in the United Arab Emirates with a capacity of 1000 poles per month. Expansion plans are being developed to include an expansion of the existing factory to 10,000 poles per month as well as new factories in Qatar, Kuwait and Saudi Arabia.
Features of the I Pole include:
- Motion Sensors
- Remote Programming and Monitoring
- Six Day Full Power Battery Backup
- Two-Year Durability Test Completed
'The I Pole is a highly profitable proven product with a very high demand. The solar collector is the pole itself providing 'reliable turnkey power' which can be deployed immediately. This product fits perfectly with AVEC, providing immediate revenue and can be presented to our wealth of clean energy customers we have developed over the years,' stated Samuel Higgins, AVEC Corporation Chairman.
Pictures of the I Pole are now posted on the company's website and the new AVEC Corporation website will be released soon.
About AVEC Corporation
AVEC Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward- looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words 'believe,' 'expect,' 'anticipate,' 'project,' 'targets,' 'optimistic,' 'intend,' 'aim,' 'will' or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the 'Risk Factors' section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For further information, please contact:
Telephone: +9714 887 5351
Facsimile: +9714 881 7835
Jebel Ali Free Zone
Dubai, United Arab Emirates