PALO ALTO, Calif., Feb. 6 /PRNewswire/ -- Frost & Sullivan has selected Axion Power International (OTC Pink Sheets: AXPW - News) as the recipient of the 2006 Frost & Sullivan Technology Innovation Award for North America in the field of lead acid batteries for developing an innovative lead-acid-carbon battery- supercapacitor hybrid that could cause disruptive changes in the market.
Frost & Sullivan monitors innovation in the lead acid battery industry and presents this Award to companies like Axion that introduce new technologies that have made or are expected to make major contributions to the industry in terms of adoption, change and competitive posture. The award recognizes the quality and depth of Axion's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.
The lead acid battery, a technology introduced in the 1850s, is ubiquitous, reliable, safe and inexpensive. It can be manufactured almost anywhere in the world with modest investments for facilities, equipment and employee training. Lead-acid batteries have earned a dominant position in the $30 billion battery industry for three reasons: simplicity, performance and price. Despite their proven strengths, lead-acid batteries require hours to charge, can only deliver a small percentage of their stored energy and have relatively short cycle-lives because each charge/discharge cycle results in irreversible internal chemical changes. Axion uses carbon electrode assemblies to replace the lead-based negative electrodes found in conventional lead-acid batteries. The result is the e3 Supercell; a low cost battery-supercapacitor hybrid that uses the same cases, materials, internal components and manufacturing equipment as conventional lead-acid batteries; offers faster recharge rates, higher power output and longer cycle-life; and can be manufactured in thousands of existing plants around the world. The e3 Supercell has the potential to revitalize the lead-acid battery industry by breathing new life into an established technology that was not well-suited to the requirements of important new applications like hybrid electric vehicles and renewable power.
"In addition to demonstrating its innovative spirit by developing an important technology, Axion is implementing a platform technology business model that will leverage the manufacturing and distribution capacities of current industry leaders while giving those manufacturers the ability to quickly introduce new products for use in emerging markets," says Frost & Sullivan Research Analyst, Vijay Shankar Murthy. "By manufacturing carbon electrode assemblies that can be used as plug and play replacements for the lead based negative electrodes used by other battery manufacturers, Axion can also rapidly expand its production capacity at minimal cost." Frost & Sullivan Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Frost & Sullivan recognizes Axion's development of the e3 Supercell, a new class of battery-supercapacitor hybrid that represents a potentially disruptive development in the lead-acid battery market.
About Axion Power International, Inc.
Axion Power International, Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. Axion is producing prototype e3 Supercells in small quantities at its plant in New Castle, Pennsylvania and believes e3 Supercells are the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world without significant changes to production equipment and fabrication processes. It also believes it will be able to manufacture carbon electrode assemblies in volume at low cost using standard automated production methods that are commonly used in other industries. If and when its electrode manufacturing methods are fully developed, Axion believes it will be able to sell carbon electrode assemblies as virtual plug and play replacements for the lead based negative electrodes used by all other battery manufacturers.Axion's goal is to become the leading supplier of carbon electrode assemblies for the lead-acid battery industry.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.awards.frost.com .