Date: Jan 11, 2016 Source: PR Newswire (
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NEW CASTLE, Pa., Jan. 11, 2016 /PRNewswire/ -- Axion Power International, Inc. (Nasdaq: AXPW) is pleased to announce that it has filed an interconnection application with PJM Interconnection, LLC for a site in Sharon, PA. Axion currently has a lease option agreement on the property and is seeking regulatory approval to deploy a 12.5 MW battery energy storage system to engage in the business of frequency regulation.
The proposed project site is a former steel fabrication facility in Sharon, PA which is about 60 miles north of Pittsburgh and twenty minutes from the Axion technical center in New Castle, PA. The successful issuance of the interconnection agreement would allow Axion to participate in the PJM regulation market. The application is currently moving through the PJM interconnection review process, and Axion is evaluating project financing options for this major commercial project.
As the application is reviewed, Axion will also apply for site permits, complete preliminary engineering and establish the project rollout plan. Jack Shindle, Axion Engineering VP, notes that "the project can be installed and operated with 1.25 MW modules engineered with similar technology and components used in our successfully demonstrated PowerCube battery storage system, which has been part of the PJM system for over two years." Each module will be powered by the Axion advanced carbon-lead (PbC) batteries. Shindle further notes "PbC® batteries are particularly well-suited to frequency regulation due to their high efficiency at partial state of charge, symmetric charge/discharge profile and long cycle life." Construction and battery manufacture could commence in the latter part of 2016 and startup scheduled in mid-2017, pending timely regulatory approval.
