Brief: Axion Power signs letter of intent with LCB International Inc for technology licensing and exclusive marketing rights for people's republic of China, Taiwan, Macao and Hong Kong

Axion Power International

15/06/2015 12:31

June 15 (Reuters) - Axion Power International Inc  AXPW.O : 
 * Signs letter of intent with lcb international, inc. for technology licensing 
   and exclusive marketing rights for people's republic of China, Taiwan, Macao 
   and Hong Kong 
 * Says Axion would receive an aggregate of up to $10 million over a period of 
   two years 
 * Will receive non-refundable payment of $250,000 immediately, and further 
   staged payments after final agreements are signed 
 * Deal grant lcb right to manufacture,sell pbc batteries,other products on 
   exclusive basis in China, Taiwan, Macao, Hong Kong 
 * Says would also be paid royalties for the longer of the last to expire patent 
   licensed or up to 15 years 
 
 * Source text for Eikon  ID:nPn6pdmsB  
 
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