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Axion Power Licensed to Produce Batteries for
Date: Thursday, August 02 @ 23:35:30 UTC
Topic: Muscle Cars


Axion Power Licensed to Produce Batteries for Vintage Ford Muscle Cars
NEW CASTLE, Pa., Aug. 2 -- Axion Power International Inc (OTC Pink Sheets: AXPW), a supplier of lightweight, quickly rechargeable and lead-reduced lead-acid batteries, said today that it has expanded the brand horizons of its Specialty Battery business, which concentrates on race-car batteries and batteries for vintage or collector cars. The Company said it has signed a licensing agreement with the Ford Motor Company that authorizes it to produce and market replacement batteries for vintage Ford "muscle" cars using the Ford brand name.
 
CEO Tom Granville commented, "Axion Power has a new technology for batteries that will, we believe, improve the functionality and utility of lead-acid batteries for multiple applications. But we also have a high respect for the past, and our specialty battery division makes the finest 'old style' (and sometimes only) replacement batteries for vintage cars. We have the molds and brandings that precisely duplicate the original vintage car equipment. Inside the replicated case is our maintenance- free AGM battery with all the cold cranking power properties of a 21st century battery line product. We are very pleased to have expanded our horizon with this license from Ford Motor Company."
 
Axion Power took over an existing but defunct lead-acid battery plant in New Castle, and has steadily expanded its output and employment, in a reversal of a long-term trend toward offshore suppliers. Its new technology offers a superior approach to rechargeability, deep cycling, and reduces weight and lead content, while extending battery life significantly. Axion looks forward to supplying batteries for wind and solar power storage applications, electric grid buffering, building UPS, telecom, traditional motive power, and new hybrid electric vehicles. It believes other market opportunities will follow.
 


About Axion Power International, Inc.
 
Axion has developed and patented a next generation energy storage device that uses carbon electrode assemblies to replace the lead-based negative electrodes used in lead-acid batteries. This new device offers energy storage capacity approaching lead acid batteries and cycle life and power output characteristics approaching super capacitors in a low-cost device that recharges rapidly and is environmentally friendly because it uses less lead. Axion is currently producing pre-commercial prototype devices in small quantities at its lead-acid battery plant in New Castle, Pennsylvania. These pre-commercial devices use the same cases, positive electrodes, separators, electrolytes and manufacturing equipment that are used in conventional lead- acid batteries. The only notable manufacturing difference is the use of carbon electrode assemblies that replace currently utilized lead-based negative electrodes. Axion believes their planned products will be the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world with little or no change to production equipment and fabrication processes. It also believes it will be able to manufacture carbon electrode assemblies in volume at low cost using standard automated production methods that are commonly used in other industries. If and when its electrode manufacturing methods are fully developed, Axion believes it will be able to sell carbon electrode assemblies as virtual plug and play replacements for the lead based negative electrodes used by all other battery manufacturers. Axion's goal is to become the leading supplier of carbon electrode assemblies for the lead-acid battery industry.
 
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995:
 
Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements include, without limitation, statements concerning the impact of the settlement agreement on our future business prospects and our ability to successfully complete the commercialization of the e3 Supercell. 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 that the settlement agreement will not produce the results we intend and all of the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, as well as other risks and uncertainties affecting the Company, 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.






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