MENOMONEE FALLS On Friday, ZBB
Energy Corporation announced its intent to enter a supply agreement
with Shanghai-based Solar Power, Inc., a vertically-integrated
photovoltaic developer, for energy storage systems.
Based in Menomonee Falls, ZBB
Energy Corporation is a developer of innovative energy management
systems solutions serving the utility, commercial and industrial
building markets. The intent of the partnership is to create energy
storage systems with total combined power output of 40 megawatts
during a period of four years. The value of the initial supply
agreement is estimated at $80 million to $120 million, depending on
the mix of storage applications and installation requirements,
according to the announcement.
According to ZBB, with the
infusion of this capital, it will have in excess of $45 million of
cash on its balance sheet.
In a short period of time, SPI
has become a major global player in providing PV systems solutions
and innovative renewable energy financing models. SPI has a strong,
worldwide presence in the highest growth markets for our products.
This agreement gives us immediate access to regions and countries
where we lack a presence today, providing a major opportunity for
ZBB to become a global leader in energy storage and energy
management systems, said Paul Koeppe, chairman of ZBB Energy, in a
statement. In addition, we expect this partnership to completely
change the paradigm at ZBB from development stage to a high growth