Axion Power's PowerCube™ Powered By PbC® Batteries a Potential Provider In California's Energy Storage Mandate
Company Seeking Partners to Assist in Joining California's Energy Storage Initiative
NEW CASTLE, Pa., Sept. 10, 2013 /PRNewswire/ -- Axion Power International, Inc., (OTC QB: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, announced today that it believes its PowerCube™ battery energy storage system will qualify as a potential provider in California's new proposed state mandate calling for the creation of 1.3 gigawatts of energy storage to support the state's power grid by 2020 (and beginning in 2014). Axion has initiated discussions and will be entertaining proposals from potential strategic partners to assist them in joining the California energy storage initiative.
On September 3, the California Public Utilities Commission (CPUC) called for the establishment of a new regulatory regime that enables utilities, third-party storage providers like Axion and others to integrate their assets and technologies to create and operate an energy storage system connected to the state's power grid. The CPUC's proposal is a response to a 2010 California law that mandated the creation of an energy storage system that integrates solar and wind energy into the state power grid while managing peak power needs.
Axion's PowerCube, based on the Company's patented PbC battery technology, has proven its effectiveness and reliability through its participation in the PJM grid utility network. The PowerCube has provided daily frequency regulation and demand response services to PJM since the initial FERC ruling of November 2011 allowed its participation. PJM is the nation's largest power transmission organization serving more than 58 million people in all or parts of 13 states in the East and Midwest and the District of Columbia. Viridity Energy, a service provider in PJM, is managing the signal link between Axion's PowerCube and the PJM network on a daily basis. The PowerCube has achieved an average daily score above 94 (out of 100) on the complex PJM scoring methodology due in part to the asset's 55 millisecond response time. Axion's experience with PJM, and their proven track record of 94 plus scores, would seem to place the PowerCube in an excellent position to take advantage of the California initiative.
The PowerCube, utilizing Axion's patented PbC® batteries, is a highly mobile energy storage system that has been designed to capture and store the intermittent power generated by renewable energy producers like solar and wind, and to recover rapidly after a discharge event, especially in partial state of charge applications. The batteries long cycle life and voltage self regulation, especially in large string applications, make it an excellent fit for applications like the 'California initiative.'
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
Axion Power International, Inc.
Thomas Granville, CEO
(724) 654 9300
Len Hall (Media)
SOURCE Axion Power International, Inc.
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