From a group of companies originally founded in Toronto in the late 1990s, a team of Russian scientists began developing a new energy storage technology that combined the energy storage properties of the commonly used lead-acid batteries with the power and greater usefulness of carbon-based supercapacitors. Founded in 2003, Axion Power was formed from these companies and set out to further advance the potential of energy storage solutions through improving this hybrid battery technology.
As Axion searched for production equipment to move their PbC® technology to a full battery prototype, they came across a Pennsylvania lead acid battery manufacturing firm called New Castle Battery that was foreclosed and auctioning off their entire plant. Through some fast actions and good timing, Axion was able to procure the plant in late 2005 and move the entire operation to the facility. The new facility offered the ability to produce PbC® Battery prototypes up to production batteries along with specialty lead acid products.
With a clear understanding of the original ground-breaking technology, the team of engineers and researchers at Axion Power successfully developed the first complete carbon negative electrode lead acid battery. In (2002), Axion Power achieved a patent for their PbCⓇ Technology, and today holds 15 patents for it.
Among other accolades, Axion Power was presented the 2006 Frost and Sullivan Award for innovation in the field of lead acid batteries. Frost and Sullivan recognized the technology as having 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 application like hybrid electric vehicles and renewable power.”
With the nearly 100% recyclable PbCⓇ Battery, Axion Power delivers an array of energy storage capabilities that can be applied to a variety of applications. Axion Power International, Inc. is a publicly traded company (OTCQB: AXPW).