|The AVEC axial engine technology in a 60 hp (45 kW) application targeted at UAVs. Source: AVEC. Click to enlarge.|
Axial Vector Energy Corporation (AVEC) and Kirloskar Oil Engines (KOEL) have signed a binding memorandum of understanding (MOU) for a joint venture for the mass production of the Axial Vector axial-type, multi-fuel engines (earlier post). The JV will be held 76% by KOEL—India’s largest manufacturer of diesel engines, both air-cooled and liquid cooled, covering a power range of 3 hp to 11,000 hp—and 24% by Axial Vector.
Under the terms of the agreement, KOEL will make a technology payment of US$250,000 to AVEC, and initially bear 100% of the costs relating to joint development of engines for up to a limit of US$2 million of costs. Axial Vector will enter into a patent license agreement to the JV on its technology, and will receive a five-year royalty payment in addition to its JV ownership starting with 5% of product sales value.
The Axial Vector Engine is an axial-type engine that uses a sinusoidal cam rather than a crankshaft to convert the linear motion of the opposed pistons into rotational motion in the drive shaft. Intake and exhaust valves open and close by a patent-pending method of rotating cam and trunions.
The AVEC engines can use multiple fuel types, including diesel, JP5 and JP8 military fuels, kerosene, bio-diesels, ethanol, and other blends of these fuels, with a special conversion kit available for the combustion of natural gas or propane.
AVEC showed a production version of its technology—the 325 hp (242 kW), 1,140 lb-ft (1,546 Nm) “Workhorse 7.2” engine and 100 kW generator—in 2009. It is also demonstrating a smaller 60 hp (45 kW) application, developed targeted at the growing unmanned aerial vehicle (UAV) market.
The marketing rights of the joint venture company will extend to all South Asian Association for Regional Cooperation (SAARC) countries: India, Sri Lanka, Nepal, Bhutan, Maldives, Bangladesh and Pakistan.
Our association with the company (AVEC) has been for over five years during which we have monitored various stages of development of Axial Vector Engines. We believe this engine is a major breakthrough, which will improve various efficiencies involved in a typical Internal Combustion Engine. We see good potential once it gets successfully developed and will benefit both industry and our company’s shareholders.
—Rahul Kirloskar, Director, Kirloskar Oil Engines Limited
Kirloskar Oil Engines is a member of the Kirloskar Group. Founded in 1888, Kirloskar Group today is a multi-product, multi-location engineering conglomerate with annual sales exceeding US$1.0 billion. KOEL manufactures more than 200,000 diesel engines per year. Kirloskar engines conform to US as well as European Tier II emission norms. Tier-III designs are in progress. These power 80 different applications in nine distinct segments such as: agriculture, power generation, construction, material handling, earth moving, mining, offshore, fluid handling, agro industrial and defense automotive retrofits. It also manufactures more than 35,000 AC generators in the 5 kVA to 300 kVA range.
AVEC Engine Joint Venture (Investor presentation)