Hybrids, Plug-Ins and All-Electric Vehicles
The award proceeds will be used to demonstrate the advantages the Axion proprietary PbC(TM) battery technology provides in a variety of electric vehicle types including: hybrids (HEVs), such as the popular Toyota Prius; "plug-ins" (PHEVs) used in commuter, delivery and other vehicles; and in EV's and converted (from combustion engine operation) EV's. The PbC battery technology, which replaces simple lead-based negative electrodes used by other manufacturers with its more sophisticated activated carbon electrode assemblies, has significantly enhanced performance characteristics when compared with other advanced lead-acid batteries. Those enhancements include deeper cycling, longer life, elimination of sulfation and shedding on the negative plate, lighter weight, and easier more rapid recharging capabilities.
"This grant acknowledges that our PbC technology has a significant role to play in the development of electric vehicles and in the rapidly expanding global market for these non-carbon-generating, energy-efficient vehicles," said Axion Power's CEO
The goals of the Alternative Fuels Incentive Grant program, as announced by Governor Rendell, are to "expand markets for emerging technologies and ultimately make them more affordable for families and businesses." The program also aims to "create jobs, clean the environment and save consumers tens of millions of dollars a year in energy costs."
About Axion Power International, Inc.
Axion has developed and patented a next generation energy storage device that won the prestigious Frost & Sullivan Technology Award for
Axion Power International Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. Axion believes this new battery technology is 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 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. For more information, visit www.axionpower.com.
Contacts Axion Power International Kelly Gubish firstname.lastname@example.org (724) 654 9300 Allen & Caron Inc Rudy Barrio (Investors) email@example.com (212) 691-8087 Brian Kennedy (Media) firstname.lastname@example.org (212) 691-8087
SOURCE Axion Power International, Inc.