Axion Power International announced meetings with LCB International to renew negotiations towards a refined and simplified technology licensing agreement to take Axion Power's patented PbC Technology to China.

LCB International extended an invitation to Axion Power CEO Richard H. Bogan to attend a series of meetings and site visits in China the week of May 15.

Bogan said: "The meetings renew previous discussion about the joint effort to commercialize the PbC Technology and to meet with other potential joint venture partners in China.

LCB International principal Dr. WJ Gesang said: "We are very pleased to welcome Mr. Bogan to China and to continue negotiations towards a mutually beneficial business partnership.

"China is the largest producer and market of lead acid batteries in the world. LCB remains confident in the long term potential of the PbC Technology."

Axion Power’s patented PbC Battery brings unique features to the market, including faster recharge, longer cycle life and a wide operating voltage window.

The battery offers the added benefit of being nearly 100 percent recyclable, allowing for a smaller environmental footprint than traditional lead acid batteries.

As reported in various Axion Power public filings in 2015, the company had been working with LCB International to consummate a multi part comprehensive agreement regarding a relationship between the two entities surrounding Axion Power’s PbC Technology and other related matters.

Axion Power will report further developments as they are confirmed.