National Technology Enterprises Company (NTEC) of Kuwait Signs Agreement For AVEC Technology in Kuwait

NEW YORK, July 6, 2011 /PRNewswire/ -- AVEC Corporation ("AVEC") (Pinksheets: AVEC) (Frankfurt: BAE1) announced today it has signed an agreement with "National Technology Enterprises Company", (NTEC) http://www.ntec.com.kw of Kuwait City, Kuwait.

The agreement calls for co development and deployment of AVEC "Clean Energy" technology in Kuwait starting with presentations to Government Officials. NTEC joins AVEC and its regional partner GCC International to provide the investment and marketing access needed to deploy large numbers of AVEC products.

About National Technology Enterprises (NTEC)

Mandated by the Kuwait Council of Ministers with a clear strategy and goals, the National Technology Enterprises Company (NTEC) was created to play a vital role in servicing major stakeholders in Kuwait with their technology needs. NTEC's business model is that of a Technology Projects Development company utilizing investment tools such as Private Equity, Venture Capital and Direct Investments to initiate and stimulate Technology Projects in Kuwait and the local region.

About AVEC Corporation

AVEC Corporation (AVEC) is a Nevada Corporation and global solutions provider that owns, develops, invests in and licenses revolutionary technologies including solar, wind and geothermal alternative energy systems. It also owns and licenses multi fuel internal combustion engines 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 green 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 guaranteed 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:

Samuel Higgins, Chairman
AVEC Corporation
[email protected]
www.aveccorporation.com

SOURCE AVEC Corporation