By: Matt Rego
Axion Power International Inc. (OTCQB: AXPW) is engaged in the development of energy storage systems and carbon/lead-based batteries. The company’s batteries uses unique negative electrodes in order to substitute lead acid negative electrodes. Shares of the energy storage company are rallying 33% during early trading on Thursday, August 25, 2016. Over the past month, Axion Power International Inc. has seen average daily volume of around 517,695 shares. However, nearly 1.7 million shares or dollar volume of $68,000 have already exchanged hands during early trading Thursday.
Axion Power International is rallying today after the company released a press release detailing of the company’s plan to conduct independent testing of its lead/carbon batteries for automotive use. The independent testing will be conducted at the Vrije Universiteit Brussel (Free University of Brussels) and will determine how Axion’s batteries perform in real driving conditions. The testing came at the request of a multinational automotive supplier, which suggests that Axion could see a boost in orders, if the independent testing yields positive results. Here is the press release detailing of the battery testing:
Axion Power International Inc Press Release:
NEW CASTLE, Pa., Aug. 25, 2016 /PRNewswire/ — Axion Power International, Inc. (AXPW) today announced it has shipped PbC® Batteries to the Vrije Universiteit Brussel (Free University of Brussels) and their Battery Innovation Centre of MOBI Research Group. The PbC Batteries will be evaluated for automotive applications based on real world driving conditions and vehicle types available in the EU.
Professor Noshin Omar, Head of the Battery Innovation Center at Vrijie Universiteit Brussel, will be running independent third party validation of the PbC Battery performance for a multinational automotive supplier. The testing, which is slated to begin in September, will benchmark PbC Battery performance and its robust capabilities against several battery chemistries for vehicle applications.
“Our team is looking forward to evaluating the PbC® Technology and its application in multiple vehicle architectures,” said Omar. “We also welcome the collaborative work with Axion Power, and look forward to Jack Shindle, Vice President of Engineering, visiting in September to assist with the test protocols being used.”
The Battery Innovation Centre of MOBI Research Group is the main Belgian expertise center for research and development of energy storage systems for traction and stationary applications. It offers state-of-the-art testing facilities and modeling for rechargeable energy storage systems. The center regularly partners with other companies and organization for the purposes of testing, simulation, prototype development and proof-of-concept.
On Aug. 13, The Economist published an article, “Upping the volts will make hybrid cars much cheaper,” (http://econ.st/2bx7ipL). The article discusses stop-start technology, commonly used in hybrid vehicles. Specifically, the author points out the faster charge and discharge available from a lead-carbon battery. This is the technology space where Axion Power’s PbC Batteries reside.
“We are pleased to partner with the Vrijie Universiteit Brussel on this project in the advancement of hybrid vehicle development,” said Richard Bogan, CEO, Axion Power. “This work effort is one of many projects currently underway around the world to establish the unique features and robust capability of Axion’s proprietary PbC Technology.”
About Axion Power International, Inc.
Axion Power is a technology leader in lead-carbon energy storage. Axion’s patented lead carbon battery is the only advanced battery technology with an all carbon negative electrode. Axion’s negative electrodes are designed to be directly substituted for lead acid negative electrodes producing the unique benefits of the Axion carbon technology. Axion Power’s primary goal is to become the leading supplier of carbon electrode assemblies for lead-acid battery companies around the world. For more information, visit www.axionpower.com.