Northern, WI - April 26, 2012 (Investorideas.com Newswire) - The Street Beat commentary - Axion Power International Inc. (OTCBB: AXPW), the developer of advanced leadcarbon PbC® batteries and energy storage systems, announced that it has received an order from Norfolk Southern Corp. for PbC batteries for use in a battery-powered locomotive. Axion said this first $400,000 purchase order is part of a $475,000 total purchase order to be shipped and deployed over the next three to four months that will be used in the commissioning of Norfolk Southern's NS-999. To date, this is the largest single PbC battery order that Axion has received. No further details were disclosed.
"We have been working with Norfolk Southern for two and a half years, and we are very pleased that this first hybrid 'switcher' yard locomotive, to be run completely on PbC batteries, will soon be in service,” said Axion Power Chairman & CEO Thomas Granville.
A yard switcher locomotive is used in a train yard to assemble and disassemble long trip over-the-road trains as well as for general movement of railroad cars around the rail yard.
According to the Axion chief, the companies are working together to deploy the first "over the road” locomotive powered by Axion batteries. The larger unit will require approximately twice the number of 100-percent recyclable batteries as the yard switcher.
"High-performance PbC batteries are ideally suited for hybrid locomotive applications due to their high charge acceptance, fast charge and discharge capabilities (important in regenerative braking), and their inherent ability to equalize voltage when utilized in large string configurations," explained Granville.
Shares of AXPW are holding an uptrend in 2012; closing 2011 at 27 cents before surging to 64 cents late in January. Shares cooled from the highs, but are still holding support above a 37 cent support level with yesterday's close at 43 cents.
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