Axion Power Announces Results of AGM

NEW CASTLE, Pa., Oct. 2, 2013 /PRNewswire/ -- Axion Power International, Inc., (OTC QB: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, today announced the results of its 2013 Annual General Meeting of Shareholders (the "Meeting").

(Logo: http://photos.prnewswire.com/prnh/20100119/AXIONLOGO)

The following proposals, comprising all of the proposals voted on at the Meeting, were approved by a more than 80% margin and subsequently adopted:

• The re-election of Mr. Thomas Granville and the election of Charles R. Trego to the Company's Board of Directors to serve until the Company's 2016 Annual General Meeting of Shareholders;
• The ratification of the re-appointment of EFP Rotenberg, LLP, as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013; and
• The amendment to our Certificate of Incorporation to increase the authorized shares of our Common Stock from 200 million to 350 million.

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 has not been 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 carbon energy storage technologies. Axion believes its new PbC 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 activated 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.

For more information, visit www.axionpower.com

Contacts

Axion Power International Inc.
Thomas Granville, CEO
(724) 654 9300

Allen & Caron, Inc.
Rudy Barrio (Investors)
r.barrio@allencaron.com
(212) 691-8087

Len Hall (Media)
len@allencaron.com 
(949) 474-4300

SOURCE Axion Power International, Inc.