MILWAUKEE, WI -- (Marketwire) -- 07/25/12 -- ZBB Energy Corporation (NYSE MKT: ZBB), a leading developer of intelligent, renewable energy power platforms, today announced the opening of Anhui Meineng Store Energy System Co., Ltd.'s advanced manufacturing center in Wuhu, Anhui Province, China.
The factory is designed to have an annualized nameplate capacity rated at 100MWh of energy storage and control products. The 3,000 square meter production area is configured with state-of-the-art equipment, designed to assemble and test ZBB EnerStore advanced energy storage technology and ZBB EnerSection power and energy control systems. The ZBB EnerStore zinc bromide flow battery and the ZBB EnerSection power electronics represent the 3rd generation intelligent energy storage and control technology from ZBB Energy Corporation.
'Meineng Energy serves the China market, which is expected to be the largest in the world for the advanced energy storage and control systems,' said Brad Hansen, Meineng Energy GM and CEO. 'Our products will drive significant photovoltaic ('PV') and wind energy system productivity increases, in addition to enabling the 3rd wave of energy storage adoption for intelligent micro-grid and smart-grid based distributed energy systems.'
Meineng Energy produces energy storage and control systems ranging from 50kWh to more than 5000kWh, customized to meet the specific needs of each application. Construction of the facility began in December 2011 and was completed by April 2012. Production began in May 2012, five months after completion of company registration.
'Initial production focuses on our energy storage products, based upon the ZBB EnerStore technology from ZBB. We presently have approximately 1000kWh of systems in varying stages of production, putting us well along the path of meeting our calendar year 2012 shipment objective,' said Mr. Hansen. 'We begin production of our power electronics family later this year. We are pleased to be in a position to ship initial ZBB EnerStore systems to multiple customers in the coming weeks.'
'While today marks the celebratory opening of the factory, ZBB Energy and Meineng Energy have been working closely for some time now to ensure the successful factory start-up, and will continue to collaborate as the production ramp continues,' said Dan Nordloh, ZBB Energy Executive Vice President of Global Business Development and member of Meineng Energy Board of Directors. 'China represents one of the fastest growing and most significant market opportunities in the world for energy storage, and we are well positioned to play a significant role in providing for China's energy storage requirements.'
Meineng Energy is a joint venture company formed by ZBB-PowerSav Holdings Ltd. and Anhui XinDong Investment Management Company, Ltd. Meineng Energy is licensed to exclusively produce, sell, service and localize ZBB Energy Corporation products in China, and non-exclusively in Taiwan and Hong Kong.
About ZBB Energy Corporation
ZBB Energy Corporation (NYSE MKT: 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 1986, 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: www.zbbenergy.com.
About Meineng Energy
Anhui Meineng Store Energy System Co., Ltd. is a provider of leading-edge energy storage systems and solutions to the greater China market. The company is a joint venture composed of investors ZBB Energy Corp., Anhui Xinlong Electrical Co., Ltd, PowerSav Inc. and Wuhu Huarui, and is located in Wuhu, Anhui Province. Meineng's products enable improved efficiency of energy distribution, and include 3rd generation Zinc-Bromide flow batteries and power electronics and control systems, for a total storage and management system level solution. The ZBB EnerStore flow battery is easy to transport and service, and operates indoors or outdoors with the widest ambient temperature range of any commercially available flow battery. Meineng customizes the system design proposal to meet specific requirements for applications such as wind and solar renewable energy, distributed storage for commercial and industrial facilities, utility scale peak power support, telecommunications and other applications. For more information, visit: www.meinengenergy.com.
About Xinlong Electrical
Xinlong Electrical manufactures a wide range of electrical equipment, including high and low-voltage power electronics, medium-voltage switches, automation and control systems and power quality and conditioning systems. XinLong Electrical is publicly traded on the Shenzhen Stock Exchange and has 22 locations throughout China. Xinlong Electrical has
sales resources, aftermarket field support personnel, 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: www.ah-xinlong.com.
About WuHu Huarui
WuHu Huarui specializes in electric power transmission and substation project construction, and has strong and long established relationships with the China grid companies. A distinct leader in the design, engineering and deployment of UHV transmission systems throughout China, WuHu Huarui is a turnkey contractor of electric power projects, electrical engineering projects and municipal engineering projects, covering power electricity, roads, railways, metro transport, shipbuilding and other segments. For more information, visit: www.tte.sepcc.com/en.aspx.
PowerSav Inc. is a multinational private equity firm, connecting technology companies from the US, Europe and Taiwan with the China market and Chinese corporate, municipal and private investors. PowerSav's unique business model involves leading of equity investments, and also the completion of all legal registrations and operational entities. This enables new entities in China to rapidly and easily address the market opportunities. PowerSav specializes in China investments in technology segments such as clean energy. For more information, visit: www.powersav.net.
Safe Harbor Statement
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.
Lewis W. Kreps
Three Part Advisors, LLC
Three Part Advisors, LLC