AXION POWER INTERNATIONAL, INC. (OTCMKTS:AXPW) Files An 8-K Other Events
Item 8.01 Other Information
As of June 15, 2017, Axion Power International, Inc. (the
Company) received the long awaited $250,000 deposit from its
Chinese joint venture partner. The delay in receipt of which was
as a result of bureaucratic procedures within the Chinese
taxation authorities which needed to clear the transaction before
the funds could be wired from the Peoples Republic of China to
the United States. Throughout the process, the Company worked
closely with its Chinese counterparts, and the Company believes
the parties will continue these strong collaborative efforts to
move quickly toward a definitive agreement with regard to the
relationship and utilization of Axions PbCR technology
in applications in China and surrounding areas.
About AXION POWER INTERNATIONAL, INC. (OTCMKTS:AXPW)
Axion Power International, Inc. is an energy solutions company. The Company has developed carbon/lead batteries, and integrates its batteries into energy storage systems, renewable energy systems, off-grid applications, automotive and other applications. The Company sells batteries, energy storage systems and engineering services as part of its product offerings, and can assist battery end users to adapt its batteries to various applications. The Company’s lead carbon (PbC) batteries and battery components have application in a range of energy storage systems. It focuses on various areas, such as power grid stabilization, micro-hybrid vehicles, hybrid commercial trucks, automated guided vehicles, and off-grid and renewable energy storage. Its PbC battery technology is a hybrid asymmetric energy storage device. The Company manufactures lead-acid batteries for sale under the Axion brand name at its Clover Lane facility in New Castle, Pennsylvania. The Company also offers the PoweCube.