Axion Power International, Inc. Announces Commencement of Production and First Shipment of Product.NEW CASTLE, Pa. -- Axion ax·i·on n. A hypothetical boson having no charge or spin and small mass, proposed to explain the existence of certain symmetries of the strong nuclear force. [axi(al) + -on1.] Power International, Inc, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AXPW) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Axion Battery Products, Inc., has begun the battery production process in their recently acquired New Castle facility. In addition, initial product has been shipped as part of a lead acid battery sale for a wind and solar energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. storage application. Thomas Granville, Axion's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "These are very significant events for Axion and represent a major milestone in the development of our business. We have begun the first phase of production leading up to the full manufacture and shipment of our Turbostart(TM) branded batteries, which will take place in the next few weeks. Since the official opening of our production facility, our New Castle sales team has obtained more than 1,000 orders for the Company's Turbostart(TM) Racing Batteries. Simultaneously, we are laying the groundwork for the production of our e3 Supercells. We expect to be making these e3 Supercells early in the 2nd quarter of 2006. We are very pleased with the progress of our facility and sales staff and have great expectations as we move towards production and commercialization of our e3 Supercell technology." Granville continued, "We are also pleased to unveil our unique 'Battery Management System' (BMS BMS abbr. Bachelor of Marine Science ). Combining our BMS with the delivery of 324 batteries will complete our first sales contract Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. obligation and provide us with a $56,000 revenue event. While this initial sale is modest, we believe our future revenues will ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale rapidly." Axion's new Battery Management Technology is designed to extend the life of both conventional lead acid batteries, and the new e3 Supercell technology, and can be utilized in multiple energy storage applications. Axion Power International, Inc., has developed and is preparing to introduce a new generation of rechargeable batteries that are part lead-acid battery and part super capacitor. Axion calls these batteries "e3 Supercells." Where conventional lead-acid batteries use lead-based electrodes for both the positive and negative poles, e3 Supercells use lead-based positive electrodes and activated carbon-based negative electrodes. e3 Supercell batteries use up to 70% less lead; offer longer cycle life; higher power; significantly faster recharge rates; and are maintenance free. In addition, e3 Supercell batteries are less likely to fail prematurely or be damaged by overcharging or other improper use. Axion believes its e3 Supercell technology represents the first major advance in lead-acid battery technology in 30 years. Axion is implementing a platform technology business model, where it will eventually manufacture electrode assemblies for sale to established battery manufacturers that want to offer a high-performance co-branded product. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. These statements include, without limitation, statements concerning Axion's future business prospects and its ability to successfully complete the commercialization of the e3 Supercell technology. These forward-looking statements are based on 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 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 described in Axion's periodic filings with the Securities and Exchange Commission, all of which are available at www.sec.gov. Axion disclaims 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. For further information, please visit www.axionpower.com or contact: Axion Power International, Inc., Katya Sergejeva, 905-264-1991, katyas@axionpower.com |
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