Axion Power Receives Order To Supply Class 8 Truck Battery Strings For ePower Re-order Spurred by Fuel-Saving Confirmation on 1400-mile Endurance Drive
NEW CASTLE, Pa., June 13, 2013 /PRNewswire/ -- Axion Power International, Inc. (OTC QB: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, today announced its receipt of a second order for PbC batteries designed to operate in string formation to increase fuel efficiency and decrease emissions in Class 8 trucks retrofitted by privately held Florence, KY-based ePower Engine Systems. The proprietary batteries and design for the ePower Class 8 application were featured recently in FLEETS AND FUELS (http://bit.ly/14Wo3zi).
Axion Power International Chairman & CEO Tom Granville commented, "Although this order is not material from a revenue point of view because it is for a single truck, it is an important step forward for the Class 8 truck fuel-saving program. ePower founder Jay Bowman and crew took the initial Class 8 truck, outfitted with PbC batteries and electronics, for a 1400-mile test drive designed, in his words, 'to try and break it.' They drove it hard, at times with a trailer and at times without one. They were happy with the test run, and have been pleased with the results of all the joint testing we have been engaged in, and after this test, decided to move forward and convert the second truck with our PbC batteries. While we will continue to try and improve the fuel savings achieved with the ePower system combined with our batteries, I think this re-order is evidence of ePower's satisfaction with our PbC product. It also speaks to their commitment to our combined technologies going forward as we progress to the next step – validation in small-fleet application."
Granville said that the Axion/ePower design is separate and distinct from other Axion trucking product offerings such as APU anti-idling for long-haul truckers who sleep in their cabs, and the dual battery product for hybrid vehicles equipped with "stop/start" technology.
Granville stated that ePower continued to achieve impressive fuel savings in the endurance drive. "Although this was a private test drive, not conducted in a lab setting that would confirm specific fuel savings," he said, "we are very pleased with the results, and look forward to working with ePower and Jay to commercialize this ultra-green fuel savings and emission reduction product." The batteries and electronics will be shipped from inventory.
Axion announced on March 20, 2013 that it had completed its continuous roll carbon sheeting process, and that the newly manufactured sheets were producing higher performance results than those historically manufactured by a manual process. Granville said that the new sheeting process, and the separate improved electrode manufacturing process, were both utilized in producing the PbC batteries employed in the truck and thus, on the endurance drive. Axion feels the implementation of these production improvements is a major contributor to the consistent strong mileage results now being achieved by the ePower truck.
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 has not been 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-carbon energy storage technologies. Axion believes its new PbC battery technology is the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world utilizing Axion's proprietary activated carbon electrodes. Axion's future goal, after filling their plant's lead-carbon battery production capacity, is to become the leading supplier of carbon electrode assemblies for the global lead-acid battery industry.
For more information, visit www.axionpower.com
Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include the risk for the Company to complete its development work, as well as the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, and other risks and uncertainties affecting the Company), as well as other risks that have been included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov. We disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events, or otherwise.
Axion Power International, Inc.
Thomas Granville, CEO
(724) 654 9300
Len Hall (Media)
SOURCE Axion Power International, Inc.