AVEC Corporation announced today it has agreed to a confidential due diligence period for two Chinese engine manufacturers to visit its facilities and conduct test on the power and fuel consumption of its engines using non hydrocarbon fuels.
The test will be conducted in April 2011. Results will be announced when finished.
Samuel Higgins, AVEC Chairman, stated, “This is the first step in unlocking value in our existing technologies of multi-fuel engines. Our ability to produce low cost electricity from any fuel source is in high demand particularly with the rising cost of oil due to the uncertainties in the worlds oil markets.”