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Axion Confirms 2012 Annual Meeting Of Stockholders

NEW CASTLE, Pa., June 5, 2012 /PRNewswire/ --  Axion Power International, Inc. (OTCBB: AXPW) today confirmed that its 2012 Annual Meeting of Stockholders will convene at 10:00 am on Thursday, June 21, 2012 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 a director, D. Walker Wainwright to serve until the expiration of his three-year term and thereafter until his successor has 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, 2012;
  • Transact such other business as may be properly brought before the Annual Meeting and any adjournment or postponement thereof.

Holders of record of the Company's common stock at the close of business on Monday, April 23, 2012 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.

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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