Order To Supply Class 8 Truck Battery Strings For ePower
Axion Power Receives Order To Supply Class 8 Truck Battery Strings For ePower
Re-order Spurred by Fuel-Saving Confirmation on 1400-mile Endurance Drive
NEW CASTLE, Pa., June 13, 2013 /PRNewswire/ -- Axion Power International, Inc. (OTC QB: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, today announced its receipt of a second order for PbC batteries designed to operate in string formation to increase fuel efficiency and decrease emissions in Class 8 trucks retrofitted by privately held Florence, KY-based ePower Engine Systems. The proprietary batteries and design for the ePower Class 8 application were featured recently in FLEETS AND FUELS.
Axion Power International Chairman & CEO Tom Granville commented, "Although this order is not material from a revenue point of view because it is for a single truck, it is an important step forward for the Class 8 truck fuel-saving program. ePower founder Jay Bowman and crew took the initial Class 8 truck, outfitted with PbC batteries and electronics, for a 1400-mile test drive designed, in his words, 'to try and break it.' They drove it hard, at times with a trailer and at times without one. They were happy with the test run, and have been pleased with the results of all the joint testing we have been engaged in, and after this test, decided to move forward and convert the second truck with our PbC batteries. While we will continue to try and improve the fuel savings achieved with the ePower system combined with our batteries, I think this re-order is evidence of ePower's satisfaction with our PbC product. It also speaks to their commitment to our combined technologies going forward as we progress to the next step – validation in small-fleet application."
MOre on the Axion website.
No material effect on revenue, although it is nice to see that the "letters of intent" actually resulted in an order. This PR proves my point about what a bunch of BS the "Letters of Intent" press release was.