SALT LAKE CITY, June 8 /PRNewswire-FirstCall/ -- Axial Vector Energy Corporation - "AVEC" - (Pink Sheets: AXVC) (Frankfurt: BAE1) and Broadcast International – BI - (OTC Bulletin Board: BCST) jointly announced today that AVEC has entered in a software license agreement with BI. AVEC will implement a BI Security Encryption Software Module which is a sub-component of its flagship software platform. Terms of the license agreement were not disclosed.
AVEC is leading the way in providing advanced, next generation alternative energy solutions. In particular, the company has developed an innovative rich-data management platform that optimizes "Smart Grid" technology to dramatically improve power consumption rates and dramatically reduce the costs of delivering power over traditional electrical grids.
By implementing remote access technology to monitor effective power consumption, electrical companies can monitor and throttle the optimal energy rate per consumer based on sophisticated data management communications between the network and the home.
Because of the sensitive nature of both the access to the network and the information flowing over it, it is imperative that communications be compressed, encrypted, and secure. Thus, the drive to partner with Broadcast International. AVEC will embed BI's Security Encryption Software Module, which is a sub-component of the CodecSys™ Software Framework. This autonomous module enables a secure "algorithmic" methodology to encrypt both data and video. AVEC will enjoy the highest level of national security data and rich-media transmission.
"We are dealing with some of the most sensitive, real-time information in the world. It is imperative that our communications are protected and secure. We've analyzed software from around the world and have determined that the approach created by Broadcast International to compress and encrypt video brings tremendous value in our data-centric world. Bi will set our solution apart from any other vendor in the world" said Sam Higgins, Chairman, AVEC.
"This license agreement further validates the power of our software platform. We are able to respond to AVEC's requirements by de-coupling our advanced algorithms for video compression and encryption and apply them to this unique application of data communication. This is the exact flexibility that our customers and partners require for the dynamic nature of a software-based encoding platform" said Rod Tiede, CEO Broadcast International.
About Broadcast International
Broadcast International is a leading provider of video-powered broadcast solutions, including IP, and digital satellite, Internet streaming and other types of wired/wireless network distribution. BI's patented CodecSys software is a breakthrough, multi-codec video compression technology that cuts video bandwidth requirements over satellite, cable, IP and wireless networks. By slashing bandwidth needs, CodecSys enables a new generation of applications such as streaming video to cell phones, and offers unprecedented price/ performance benefits for existing applications such as HD video.
Broadcast International is a public company (OTC BB: BCST) headquartered in Salt Lake City, UT. For more information, visit: www.brin.com.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops and licenses revolutionary 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. The company also owns 40% of Petro Avec.
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Axial Vector Energy Corporation info@axialvectorenergy.
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption "Additional Factors That May Affect Our Business" in the Company's most recent Form 10-K and 10-Q filings, and amendments thereto. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.
SOURCE Broadcast International