Axion Power International Inc. announced that it has signed a project specific Letter of Intent with Rosewater Energy Group, based in Fort Lauderdale, Florida. The LOI memorializes a strategy to create and market a variety of energy storage and conversion products for the high-end residential market. The project calls for the incorporation of Axion Power's PbC batteries, and technology know how, into a product package that offers distortion-free secure home power; an ability to store energy from renewable sources and from the electric grid; an ability to sell energy back to the electric grid; an opportunity to protect some, or all, of the residential circuitry and to prioritize these circuits. The companies, which are also working together to market PowerCubes(TM) for other applications, will preview the new array of products for the residential market at the CEDIA EXPO in Indianapolis during the first week of September. Under the detailed Letter of Intent signed on June 21, 2012, Axion would appoint Rosewater Energy Group as its exclusive distribution agent for a period of three years, subject to defined sales minimums and other conditions. Specific details of the strategic relationship with Rosewater Energy will be disclosed after a definitive agreement is signed in the near future. Meanwhile, product marketing will begin immediately.