Advanced lead-carbon PbC® batteries developer Axion Power International has signed a Letter of Intent with LCB International.
LCB, whose principal business office is in China, will now manufacture and sell Axion’s products on an exclusive basis in China, Taiwan, Macao and Hong Kong.
The privately owned British Virgin Islands company and Axion have 60 days to execute the final agreements of the LOI.
Final approval is now needed from Axion’s shareholders on the details of the deal, which will be sought while Axion and LCB negotiate the final detailed agreements required by the LOI.