NEW CASTLE, Pa., Sept. 23 /PRNewswire-FirstCall/ -- Axion Power International Inc (OTC Bulletin Board: AXPW), a leading developer of advanced lead-carbon PbC(R) batteries, today announced that Chairman and CEO Tom Granville will participate in a panel discussion hosted by Larry Schweiger, President and CEO of the National Wildlife Federation. The panel, which includes U.S. Representative Mike Doyle, 14th District, Pennsylvania; Kathleen McGinty, principal in Peregrine Technology Partners and former Secretary of the Department of Environmental Protection in Pennsylvania and Michael Peck, president of Gamesa, will discuss, how Pittsburgh has become, and can continue to be, a national leader in renewable energy. The event will begin at 8:00 AM on Thursday, Sept. 24 at the G20 Media Center, August Wilson Center located at 980 Liberty Avenue in Pittsburgh.
"Pennsylvania in general, and Western Pennsylvania in particular, have been stalwart in their emphasis and development of a green energy sector. The Commonwealth, through governor Rendell's administrative team, has been a great partner to our development," Granville said. "Axion Power purchased the assets and re-commissioned a mothballed lead-acid battery plant in New Castle and we transitioned our entire operation down from Canada. We found a willing work force and a supportive government, so we are extremely happy we are now operating in Pennsylvania. This year, we signed a four-year global supply agreement with Exide Technologies (NASDAQ: XIDE) for the purchase of our PbC(R) proprietary batteries and other Axion Technology(TM). With that contract, and an emerging European hybrid electric vehicle market that our product is perfectly suited for in terms of both performance and economics, we are poised to dramatically expand our work force here in Western Pennsylvania. There will be challenges of course, but with the continued assistance and cooperation of our partners in and out of government, Axion can serve as a prime example of how the Pittsburgh economy can benefit from what we refer to as the "circle of green."
Mr. Granville will speak about the continued need for reducing CO2 emissions; how the European automotive OEMs will provide a solution for that reduction and how that solution can/will be brought to the U.S. in part because Axion Power has the disruptive technology to make this happen. Axion's proprietary PbC batteries provide higher power and more efficient delivery of that power. The batteries last longer, (3 to 4 times longer in some applications), recharge faster (more than 10 times faster in some applications) and have a much higher charge acceptance rate, when compared to other advanced lead acid batteries. On a cost per cycle basis, the PbC battery has no peer. This particularly applies to the more highly publicized lithium ion and nickel metal hydride technologies. And the Axion product, like its lead-acid cousin, is recycled 99.2% of the time (back into lead for new lead acid batteries), the highest recycle rate for any product on the planet. So how much greener can you possibly be? On the other hand, recycling for lithium and nickel metal hydride batteries is still a challenge and comes with a cost to recycle. The PbC battery also has application for storage for the traditional grid market and the renewable markets of wind and solar.
The greater Pittsburgh area has been a hub of heavy industry - coal, oil and natural gas production, steel manufacturing and metals processing - for more than two centuries. The area is now positioned to be an epicenter of renewable energy innovation as it helps traditional industries make the transition to a low carbon future. Axion Power will be a participant in that journey to a green economy.
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 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 is not well suited to the requirements of important new applications like hybrid electric vehicles and renewable power."
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 future goal, after filling their plant's lead-carbon battery production, 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 Thomas Granville, CEO (724) 654 9300 Allen & Caron Inc Rudy Barrio (Investors) firstname.lastname@example.org (212) 691-8087 Brian Kennedy (Media) email@example.com (212) 691-8087
SOURCE Axion Power International, Inc.