In today’s news, Axial Vector Energy announced that it has selected Mr. Sanjai Chhaunker as its new President and CEO effective today. Mr. Chhaunker will be in charge of all AVEC corporate functions, including finance, administration, international operations, product development, customer services, sales and marketing.

“Sanjai has tremendous operational and product development experience that covers the range of corporate functions,” commented Mr. Ahmed Khalifa, Chairman of AVEC. Mr. Khalifa further said, “The Board has given its full endorsement of his plan to use the financial resources of EICA to seek acquisitions of companies and technology for AVEC that compliment AVEC engine, generator and electric motor technologies.”

“Sanjai Chhaunker’s depth of experience and leadership skills will allow us to accelerate our growth and take the company to the next level,” stated Mr. Arash Masom, Senior Managing Director of Emirates Capital. “We are excited to work with Sanjai, both because he is an amazing executive and because we share the vision that AVEC technology will be essential for so many areas in an energy starved world. Sanjai will build an organization that will keep up with our accelerating business.”

“The chance to lead the AVEC team is truly exceptional,” stated Mr. Chhaunker. “AVEC is well on its way to changing the way green energy technology is developed and deployed around the world. We have identified two potential acquisition targets, and I will meet in New York with our new auditors and attorneys concerning our progress on becoming fully reporting and request listing our stock on a higher market.” Mr. Chhaunker continued, “My extensive knowledge of the Indian automotive and generator market will bring value added to AVEC in our negotiations with top Indian manufacturers in the near future.”

Previously, Mr. Chhaunker served as finance manager for a $500 million business conglomerate based in Hyderabad, India. In his position, he was responsible for implementing various stages of a $125 million textile spinning project and was instrumental in syndicating project & equity funding. His Masters Degree in Business Administration (MBA) from Southeastern University, Washington D.C. and previous experiences make him an ideal leader for this emerging company.

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