Hundreds of Institutional Investors to Attend Conference

NEW CASTLE, Pa., Sept. 12 /PRNewswire-FirstCall/ -- Axion Power International, Inc. (OTC Bulletin Board: AXPW), a leading developer of advanced lead-carbon "PbC"(TM) batteries, today announced that Thomas Granville, CEO and Dr. Edward Buiel, VP and Chief Technology Officer will present at Merriman Curhan Ford's 5th annual Investor Summit on September 15, 2008 at 2:15 pm PDT. This event will be held at the Mark Hopkins InterContinental Hotel in San Francisco.

The presentation will take place in Track 3 - Six Continents Room (Mezzanine Level) and management will be available to participate in one-on-one meetings with conference attendees on September 15 and September 16. Management will discuss the Company's business strategy and Axion's advanced PbC(TM), embossed-grid and carbon additive technologies products. The resulting energy storage products can be manufactured in existing lead-acid battery manufacturing facilities using existing lead-acid battery equipment. The new proprietary PbC energy storage device has unique performance characteristics due to the utilization of an activated carbon negative electrode that replaces the lead negative electrode found in lead-acid batteries.

More information about the conference can be found at: http://www.mcfco.com

About Merriman Curhan Ford

Merriman Curhan Ford (Nasdaq: MERR) is a financial services firm focused on fast-growing companies and the institutions who invest in them. The company offers high-quality investment banking, equity research, institutional services, primary market research, asset management and corporate & venture services, and specializes in four growth industry sectors: CleanTech, Consumer/Internet/Media, Health Care and Tech/Telecom. For more information, please go to http://www.mcfco.com.

About Axion Power International, Inc.

Axion has developed and patented a next generation energy storage device that won the prestigious 2006 Frost & Sullivan Technology Innovation Award for North America in the field of lead-acid batteries. According to Frost & Sullivan, Axion's new PbC batteries have "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."

PbC(TM) batteries use sophisticated carbon electrode assemblies to replace the simple lead-based negative electrodes used by other lead-acid battery manufacturers. The resulting device offers energy storage approaching lead-acid batteries, coupled with far longer cycle life and power output approaching super-capacitors. These low-cost devices recharge rapidly and are environmentally friendly because they use less lead. Axion has been producing prototype PbC batteries at its lead-acid battery plant in New Castle, Pennsylvania for more than a year using the same cases, positive electrodes, separators, electrolytes and manufacturing equipment that it uses in its other lead-acid battery products. The only notable manufacturing difference is the use of Axion's proprietary carbon electrode assemblies instead of lead-based negative electrodes.

Axion believes its PbC technology devices are the only class of advanced battery that can be assembled on existing lead-acid battery production lines 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 production methods that are commonly used in other industries. 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 lead acid battery manufacturers.

Axion's goal is to become the leading supplier of carbon electrode assemblies for the lead-acid battery industry.

    Contact:  Allen & Caron                 Axion Power International, Inc.
www.allencaron.com            www.axionpower.com
Rudy Barrio (investors)       Kelly Gubish
Brian Kennedy (media)         724 654 9300
212 691 8087                  kgubish@axionpower.com
r.barrio@allencaron.com
brian@allencaron.com