Axion Power International CEO Releases Letter to Shareholders Highlighting Positive Developments for Company Growth

LETTER TO SHAREHOLDERS OF AXION POWER INTERNATIONAL, INC.

Axion Power is rapidly transitioning to an energy storage royalty/licensing technology company. To that end, we are actively in discussions with several organizations around the world and I would expect the second half of 2016 to be very exciting.

Working with our team, and that of Global Vision, I have increased communication efforts with the goal of keeping shareholders better and more timely informed. This effort began with the announcement of a partnership with Advanced Battery Concepts, LLC. to test the impact of Axion’s proprietary PbC(R) negative electrode technology within Advanced Battery Concepts’ GreenSeal(R) bipolar battery. Since February, Axion Power has released seven update commentaries and appeared in the news regularly as a result of this ongoing communications effort, including a recent story in the Pittsburgh Post-Gazette.

We initiated Axion Power’s entry into the commercial U.S. market with the launch of our first consumer focused product. The Do-It-Yourself Off-Grid Light Kit was made available online in May, allowing consumers to purchase a solar powered lighting system and install it without an expert technician. The light kit is ideal for use in parking lots, farms, college campuses, outbuildings, parks or residential spaces in need of additional outdoor lighting. As we grow our footprint in the commercial market, we look forward to the coming release of a PbC(R) Battery powered residential energy storage unit.

As I look back on my first 100 days as CEO, I see the highlights as notes of success and encouragement of what is to come. As a Shareholder, I hope you also share in my excitement. With potential new partners in the U.S. and around the world, we have several opportunities. With a redesigned brand, consistent messaging and commercial products, we have taken Axion to a new level. PbC(R) Technology continues to perform in the applications where it is being used, and we look forward to seeing those applications expand. Please stay tuned for continued announcements about partnerships and products.

Sincerely,

SOURCE Axion Power International, Inc.