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Axion Confirms 2011 Annual Meeting Of Stockholders

Stocks in this article: AXPW

NEW CASTLE, Pa., July 14, 2011 /PRNewswire/ -- Axion Power International, Inc. (OTCBB: AXPW) today confirmed that its 2011 Annual Meeting of Stockholders will convene at 10:00 am on Wednesday, July 20, 2011 at the New Castle Country Club, 511 Club Drive.  Following the meeting, beginning at approximately 1:00 pm, the Company will provide tours of the nearby Clover Lane plant facility.  In addition, a cocktail reception beginning at 5:00 pm will be held at the New Castle Country Club.

Mr. Thomas Granville, Chief Executive Officer, will provide a general business update to the Stockholders.  

During the meeting, stockholders will be asked to consider and vote on proposals to:

  • Elect two directors, Michael Kishinevsky and Howard K. Schmidt, Ph.D. to serve until the expiration of their three-year terms and thereafter until their successors have been duly elected and qualified;
  • Ratify the selection of EFP Rotenberg, LLP, as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2011;
  • Amend the Company's Certificate of Incorporation to increase the number of authorized shares of Common Stock from 125 million to 200 million.

Holders of record of the Company's common stock at the close of business on Wednesday, May 25, 2011 are entitled to vote at the Annual Meeting.  A copy of the Proxy Statement for the Annual Meeting has been mailed to stockholders.  An electronic version of the Proxy Statement is available on the Company's website at www.axionpower.com.

If you are a holder of record, you may also vote electronically over the Internet.  To do so, please go to http://www.cstproxyvote.com, and follow the instructions on the webpage which appears, which will give you access to an electronic version of the proxy card, allow you to electronically complete the proxy card, and transmit electronically to record your vote.

About Axion Power International, Inc.

Axion 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 is not well suited to the requirements of important new applications like hybrid electric vehicles and renewable power."

Axion Power International, Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. Axion believes this new battery technology is the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world utilizing Axion's proprietary carbon electrodes. Axion's future goal, after filling their plant's lead-carbon battery production capacity, is to become the leading supplier of carbon electrode assemblies for the global lead-acid battery industry.

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