Axion Power International, Inc. (NASDAQ:AXPW) has inked a strategic partnership with Oregon-based Pacific Energy Ventures. The deal also includes rights to sales and the reselling of technology in the renewable energy industry. PEV will represent Axion along with their PbC line-up of products on a national level. The deal is not exclusive and allows Axion to pursue other forms of revenue acquisition. The deal initially will focus on the company’s PJM Interconnection power grid. PJM serves 13 states in the Northeast region of the US and the District of Columbia.
Axion operates in the clean energy sector and has a strong portfolio of intellectual property. This includes the patented carbon technology that the company uses in its PbC storage and regulation platform. Axion Power International, Inc. (NASDAQ:AXPW) says the agreement is important and provides Axion with much needed exposure domestically and abroad. They expect the deal to hit the ground running and be effective immediately.
Power grids have become a common topic recently as the medical marijuana industry searches for sources of energy to take their growing operations of local and government grids. The amount of power required for these operations is immense and having a self-contained, sustainable and renewable option is attractive. Axion Power International, Inc. (NASDAQ:AXPW) is focused on bringing new technologies to the market and the deal makes sense as they do not have to worry about marketing and sales. Regulations are also a concern and this allows Axion to focus on compliance. Axion is the industry leader in carbon energy storage and its PbC battery utilizes proprietary technology. The company is intent on becoming the leader in providing clean energy using its technologies.
The stock is coming off a bottom and starting to regain some momentum. The issue is oversold and the MACD is turning upwards suggesting a bottom has been established. A move above 86 cents would be confirmation of the base and lead to stronger moves upwards. There could be some sideways r=trading as it builds a base for support.