NEW CASTLE, Pa., Aug. 29, 2013 /PRNewswire/ -- Axion Power™ International, Inc. (OTC QB: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, announced today that they will utilize an Indiana venue to display their PbC battery, and its use in an electric hybrid Class 8 truck developed by ePower Engines. The truck will be powered by a 56 battery array and will be available to a wide variety of drivers and truck fleet owners through a 'Ride and/ Drive' program set up at the Indiana Green Fleet Conference on September 23-25 in Elizabeth, IN. Vani Dantam, Axion's Senior Vice President of Business Development, Sales and Marketing will explain the application to the Conference and detail how the hybrid system, incorporating Axion PbC batteries, dramatically increases obtainable 'miles per gallon' in normal heavy duty truck operating environments. Mr. Dantam will also serve as moderator for the Transportation section of the Conference.
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The electric hybrid 18-wheelers have been retrofitted, from standard internal combustion engines, to series diesel electric hybrid drive train systems that include a string of 56 PbC batteries by privately held, Florence, KY-based ePower Engine Systems. The PbC batteries have been selected for the 18-wheel Class 8 truck conversions because of their high cycle life; their unique high charge acceptance capability; their ability to discharge and recharge quickly and their inherent self-equalization characteristic that is particularly advantageous to large string applications.
Diesel fuel is the largest variable cost in trucking, with Class 8 trucks alone consuming more than 19 billion gallons of diesel fuel annually, noted Axion Power Chairman and CEO Tom Granville. It is estimated that the ePower hybrid system, utilizing PbC batteries, will be able to reduce fuel consumption by some 35% going forward.
"There is considerable enthusiasm being generated for this hybrid heavy-duty truck because of the fuel savings and emission improvements it is demonstrating during test drives," said Granville. "The entire trucking industry is looking for new ways to save on fuel costs as well as control harmful emissions and we believe we have the system and the unique battery technology to assist them on both fronts. We look forward to meeting the drivers and owners of truck fleets and putting them behind the wheel of the ePower hybrid truck employing our PbC batteries. The 'system' continues to perform well in road test drives of both short and long duration."
In addition to the ePower hybrid truck, Axion will also display their PbC battery at The Indiana Green Fleet Conference on September 23-25.
The ePower hybrid truck with PbC batteries will also be available at the TMCSuperTech2013 Expo. The "Truck Maintenance Council" event will be held from September 9-12 at the David L. Lawrence Convention Center in Pittsburgh.
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
Forward-looking Statements
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.
Contacts:
Axion Power International, Inc.
Thomas Granville, CEO
(724) 654 9300
Allen & Caron, Inc.
Rudy Barrio (Investors)
r.barrio@allencaron.com
(212) 691-8087
Len Hall (Media)
len@allencaron.com
(949) 474-4300
SOURCE Axion Power International, Inc.