Axion Power International Inc. announced that it has signed a memorandum of understanding (MOU) for a multi-year, global supply relationship with Exide Technologies for the purchase of Axion PbC batteries and other Axion technologies.
Axion is a developer of batteries and energy storage products that incorporate lead carbon battery PbC Technology. Exide Technologies is a global battery supplier for the automotive and other markets. Axion plans three consecutive phased purchase and test periods this month, with Axion supplying "an escalating number of batteries" to Exide on a monthly basis.
Two initial phases of the deal will take place over 18 months and, if successful, the parties will move to the final two phases of the agreement, according to Axion.
The agreement will make Exide Axion Power’s principal battery original equipment manufacturer customer. Axion said it will still retain the limited ability to market its PbC battery to one other lead-acid battery manufacturer under an existing agreement. Axion said it will also be able to sell all its products to current customers, and into certain large potential markets on which the company has chosen to concentrate.
The company added that the agreement anticipates fields of use for the Axion Technologies to include batteries for automobiles and light trucks, hybrid electric vehicles, plug-in hybrid electric vehicles, electric vehicles, fuel-cell vehicles, marine, military, and heavy-duty transport applications.
They will also be used for off-road machines, power-sport vehicles and lawn and agricultural vehicles, according to Axion. The deal also foresees applications for battery back-up, power quality, load leveling and peak shaving, storage for wind and solar and storage for network grid applications.
