Axion Power International has issued market data relating to its tie-up with Fengfan Co Ltd to introduce its patented PbC technology into China.
On July 15, Axion Power’s Chief Executive, Richard Bogan announced that Axion will work towards reaching an agreement with Fengfan to be the sole strategic partner to commercialize the patented PbC technology in China.
“Axion recently shipped a number of PbC batteries to Fengfan’s facility in Baoding, China for validation testing and evaluation for potential commercial applications in China,” said Bogan.
“Axion Power will also ship a number of its proprietary PbC Negative Carbon Electrodes to Fengfan for PbC Battery prototype design and development study. An Axion Power senior engineer will assist on site in China. Periodically, it will provide progress updates on this collaboration.”
KPMG’s 2016 Global Automotive Executive Summary found that China and Germany are the two most attractive countries for new automotive investment leading to higher production.
This is likely to mean bigger demand for automotive batteries in China, a key reason for Axion’s partnership with Fengfan.
“We believe that our technology may have significant applications in the motive sector, specifically including the automobile industry,” added Bogan.
“So our ongoing efforts to commercialize in China are timely and appear to be our shortest path to commercialization.”