NEW CASTLE, Pa., Feb. 14, 2011 /PRNewswire/ -- Axion Power International, Inc. (OTC Bulletin Board: AXPW), the developer of advanced lead-carbon PbC® batteries, announced today that is has received notification from the United States Patent and Trademark Office that it has been granted an additional patent, its seventh, protecting aspects of its core supercapacitor technology. The new patent can be extended for up to a 20 year term.
CEO Thomas Granville commented, "The core of our technology is our ability to combine the best of traditional lead-acid technology with the enhanced performance provided by our proprietary activated carbon negative electrodes. Our activated carbon technology sets us apart from the marketplace and we are very pleased to add a 7th patent to our portfolio protecting the PbC® technology. As we have said in the past, we believe the PbC technology will be recognized as the low-cost high-performance leader in a variety of applications, that will include the millions of new 'micro and mild hybrid' vehicles that the automotive OEM's say will be on the roads in the US and Europe over the next few years."
Axion Power is working with several automotive companies, as well as with Norfolk Southern, the US military and other developers of renewable/sustainable technologies, as they look to obtain broad acceptance of their PbC technology.
The Company will be presenting on February 24th at the Jefferies 11th Global Clean Technology Conference. Those interested should contact [email protected].
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 utilizing Axion's proprietary 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.
SOURCE Axion Power International, Inc.