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Thursday, March 31, 2011

AXPW.ob reports

The PR sums up Axion Power very very well.  Here is what must be read, if you are an AXPW.ob investor: (Its about 90% of the PR :)

...this Spring we will be turning out negative electrodes of consistent quality sufficient to begin the production of PbC batteries in quantities that will satisfy our customers."

The Company's vision for 2011 is to launch commercial quantities of PbC batteries through its growing network of strategic development partnerships.  That includes the Company's work with Norfolk Southern (NS), a Tier One US railroad with a leadership position in clean operations. Granville continued, "The third major achievement of 2010 was solidifying our relationship with NS.  We have been working with them for more than a year but have made real progress in the last several months. We have been told that we will receive an order from NS, in early April, for the purchase of PbC batteries for large 'string testing' which will result in profitable revenue when the anticipated transaction occurs in the second quarter of 2011. The string testing will be used by NS to duplicate the results that we have achieved here at Axion and the specific testing regimen will focus on how the PbC battery's longer cycle life and high rate of charge acceptance can best be utilized in the NS locomotive's use profile."

Additionally, the Company has continued to pursue and build relationships with numerous worldwide vehicle manufacturing leaders such as BMW.  The Company believes that micro and mild hybrid vehicles will help auto makers around the world meet their carbon emissions requirements, and will also enable the automakers to provide increased miles per gallon to the consumer. The Company believes the low-cost, high-charge acceptance PbC battery will be a contending preferred battery choice for this emerging "vehicle hybridization" market. 

Granville continued, "The recent events in Japan have brought home in a forceful way the need to integrate renewable and sustainable energy into our lives. If we want to increase the share of solar, wind, tidal and other forms of renewable energy, we will need a distributed power grid that can supply and accept power from a wide variety of sources.  One of the enabling technologies for such a grid will be affordable energy storage that allows one to hold energy generated when grid demand is low and utilize it in times of need or when demand is high. We believe PbC batteries will be an important part of the solution for bringing renewables to their proper place in our energy mix. We feel our proprietary PowerCube™ product, complete with batteries, with a battery management system, with remote monitoring and balancing capabilities, with all necessary integrated electronics, etc., is well suited to respond to on grid, and off grid, power demands such as UPS-back up; power smoothing; and power quality – to name a few. Our new onsite PowerCube project, which will be commissioned in early summer, will demonstrate some of these capabilities."

Axion Power has continued its work with various governmental groups and agencies in developing its PowerCube line of products for distributed energy storage under a grant from the Commonwealth of Pennsylvania; and a grant from the DOD through the Office of Naval Research for the development of standby power for the Navy and Marine Corps Silent Watch Program and their Assault Vehicle Program. It is the Company's objective to complete these projects in 2011.

In closing Granville said, "we have strengthened our team considerably with numerous important appointments in 2010.  We believe we now have a team that can take us where we need to go, and take us there effectively. We have spent considerable investment in updating our battery manufacturing plant at the Clover Lane facility to mesh with our new robotic electrode manufacturing equipment being installed at our Greenridge Road facility. There's still work to be done, there's always work to be done, but most of the important pieces are in place. We're ready, we're so ready." 

2011 is shaping up to be a very interesting year.

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