Axion Power International, a developer of advanced lead-carbon batteries, has secured a strategic marketing, sales and reselling agreement with Pacific Energy Ventures, a technology and project development firm specialising in the renewable energy and energy storage sectors.
Under the agreement, Pacific Energy Ventures will represent Axion Power and its PbC-based products nationally on a non-exclusive basis, initially focused in the area that comprises the power grid of PJM Interconnection, a regional transmission organisation serving all or parts of 13 states in the Northeast and the District of Columbia.
PEV will promote the sale of PbC and PowerCube products for use with renewable energy and energy storage projects.
Phil Baker, the chief operating officer, of Axion Power says: “This important agreement with Pacific Energy Ventures, a company with significant experience in the renewable energy sector across the US and in certain markets abroad, aligns us with innovative and successful sales and distribution experts in order to both market and sell Axion’s PbC technology.
“This is not an agreement that will lead to a new layer of testing before something happens. We believe PEV will hit the ground running right away.”
Steven Kopf, senior partner at Pacific Energy Ventures, says PbC technology has proven itself in frequency regulation on a daily basis for more than two years.
“At Pacific Energy Ventures, we concentrate on bringing new technologies to the energy market. The capabilities we see in PbC and Axion PowerCube products are unique and fit with the growing demand for market-based regulation services.
“I do not believe there are other similarly situated companies with Axion Power’s PbC product in the highly profitable area of frequency regulation. Frequency regulation may not be a household term, but it is the art and science that keeps the grid in balance on either the demand or supply side.
“We believe PbC can be an important enabling technology in the renewable energy world.”