AXPW News .35 AXION POWER INTERNATIONAL INC Sy
Post# of 144432
AXPW News .35
AXION POWER INTERNATIONAL INC
Symbol U : AXPW
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Axion Power, Rosewater Energy Group Developing A Power Quality And Energy Storage Cube For The Residential Market
2012-06-21 07:30 ET - News Release
NEW CASTLE, Pa., June 21, 2012 /PRNewswire/ -- Axion Power International, Inc. (OTC Bulletin Board: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, announced today that it has signed a project specific Letter of Intent with privately-held Rosewater Energy Group, based in Fort Lauderdale, Florida. The LOI memorializes a strategy to create and market a variety of energy storage and conversion products for the high-end residential market. The project calls for the incorporation of Axion Power's PbC batteries, and technology know how, into a product package that offers distortion-free secure home power; an ability to store energy from renewable sources and from the electric grid; an ability to sell energy back to the electric grid; an opportunity to protect some, or all, of the residential circuitry and to prioritize these circuits. The companies, which are also working together to market PowerCubes™ for other applications, will preview the new array of products for the residential market at the CEDIA EXPO in Indianapolis during the first week of September.
Rosewater Energy Group, Managing Director, Joseph Piccirilli commented, "We have seen the value of PbC technology, as a secure energy storage source, while working with Axion CUBE designs, and other products, over the past two years. We believe this technology has tremendous value for entertainment technologies, and a range of home upgrades that will enable residential owners to have a previously unattainable sense of both power quality and energy security in their homes. We will target upscale residences either in remote locations or in luxury enclaves. At least at the beginning, we do not intend to market these products to developers or builders, as we believe many of the installations will be customized to the specific needs of individual homeowners."
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