ZBB Energy's China Joint Venture Company Anhui Meineng Store Energy Co., Ltd. Receives Official Business License Registration
Contracts Secured for Strategic Placement of Technologies at Test Center and Government Building Demonstration Center
(firmenpresse) - MILWAUKEE, WI -- (Marketwire) -- 01/05/12 -- ZBB Energy Corporation (NYSE Amex: ZBB), the leading developer of intelligent, renewable energy power platforms, announced today that its China joint venture company, Anhui Meineng Store Energy Co., Ltd., (d.b.a. Meineng Energy), has received its formal business license registration and the joint venture partners have all made their initial capital contributions, thereby completing the formation process.
As a direct result of the joint venture, ZBB Energy has secured contracts to provide its ZBB EnerStore™ advanced energy storage and ZBB EnerSection™ power and energy control technologies for installation at an energy storage technology test center and a government building demonstration site. These strategic contracts are significant in that the test center serves as a leading authority for advanced energy storage technologies in China, and the government building project will showcase the benefits of ZBB technologies in ensuring consistent power to buildings from an inconsistent grid supply (grid conversion).
Meineng Energy will initially assemble and ultimately manufacture ZBB products for sale in the power management industry on an exclusive basis in mainland China and on a non-exclusive basis in Hong Kong and Taiwan. Meineng Energy is nearing completion of constructing a new state-of-the-art manufacturing center in WuHu City, Anhui Province, and is scheduled to begin initial operations in the first quarter of 2012.
The joint venture partners comprising Meineng Energy include, ZBB PowerSav Holdings Limited, and Anhui Xinrui Investment Co., Ltd., represented by AnHui Xinlong Electrical Company (Xinlong Electrical) and WuHu Huarui Power Transmission & Transformation Engineering Company (WuHu Huarui).
This joint venture enables ZBB to take its products into China's high growth market with exceptionally strong partners, and represents a core component of ZBB's global partnership strategy to offer the lowest cost, intelligent power management storage products available in emerging markets that offer significant growth opportunities.
Said Eric Apfelbach, CEO of ZBB Energy, "The opportunity and demand for our products in China is tremendous. Our joint venture is expected to enable the penetration of both our flow battery and power electronics products by giving us local manufacturing capability and channel access to China's grid companies."
ZBB Energy Corporation (NYSE Amex: ZBB) designs, develops, and manufactures advanced energy storage, power electronic systems, and engineered custom and semi-custom products targeted at the growing global need for distributed renewable energy, energy efficiency, power quality, and grid modernization. ZBB and its power electronics subsidiary, Tier Electronics, LLC have developed a portfolio of integrated power management platforms that combine advanced power and energy controls plus energy storage to optimize renewable energy sources and conventional power inputs whether connected to the grid or not. Tier Electronics participates in the energy efficiency markets through their hybrid vehicle control systems, and power quality markets with their line of regulation solutions. Together, these platforms solve a wide range of electrical system challenges in global markets for utility, governmental, commercial, industrial and residential end customers. Founded in 1998, ZBB's platforms ensure optimal efficiencies today, while offering the flexibility to adapt and scale to future requirements. ZBB's corporate offices and production facilities are located in Menomonee Falls, WI, USA with offices also located in Perth, Western Australia. For more information, visit: .
Xinlong Electrical manufactures a wide range of power transmission and transformer equipment, including high and low-voltage power electronics, automation and control systems and power quality and conditioning systems. Xinlong Electrical is publicly traded on the Shenzhen Stock Exchange, with Registered Capital of RMB165 million. From 22 locations throughout China, Xinlong Electrical has more than 450 sales resources, as well as aftermarket field support and project integration teams serving key market segments such as State Grid and South Grid electricity and power projects, transportation, telecommunications, industrial and commercial building and manufacturing. For more information, visit .
Wuhu Huarui is a distinct leader in the design, engineering and deployment of UHV transmission systems, major business locate in more than 20 provinces throughout China. With 2010 revenue of $100 Million, WuHu Huarui specializes in electric power transmission and substation project construction, and has strong and long established relationships with both State Grid and South Grid companies. Wuhu Huarui has municipal engineering projects, covering power electricity, roads, railways, metro transport, shipbuilding and other segments. For more information, visit .
PowerSav Incorporated provides vital "new energy" solutions to the China market, enabling the country to alter the energy mix to high-efficiency renewable sources and away from coal and oil. With breakthrough products in LED lighting, advanced energy storage and energy management systems, and "Smart Grid" infrastructure, PowerSav Inc. addresses many of the highest growth markets in China. The PowerSav products and services are critical to supporting the needs of China's rapidly growing population. For more information, visit .
Certain statements made in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Dilek Wagner
Investor Relations
ZBB Energy Corporation
T: 262.253.9800
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Datum: 05.01.2012 - 11:10 Uhr
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