Axion Power International, Inc. AXPW -1.56% 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."
For our complete article on AXPW please go here: http://tinyurl.com/otcmagic-axpw
Yes this was a positive development, but just to correct your post it indicates the stock is down 1.56% while in actuality the stock is down 97% since February 6, 2006 when this positive news developed.
Yes, but past performance is not an indicator of future performance. I was focused more on the paragraph that stated, " BMW Cars will be moving to 48 volts as cars are being increasingly electrified. When BMW moves to 48 volts it will likely be with Axion batteries. Axion has stated that BMW and Axion have meetings twice a month and this is an on-going project. "
Has Frost & Sullivan issued any such awards to Axion recently? Because the award you cited was touted in a press release from Axion dated Feb. 6, 2006.
Here's the first paragraph from that press release:
"Frost & Sullivan has selected Axion Power International (OTC Pink Sheets: AXPW - News) as the recipient of the 2006 Frost & Sullivan Technology Innovation Award for North America in the field of lead acid batteries for developing an innovative lead-acid-carbon battery- supercapacitor hybrid that could cause disruptive changes in the market."