ZBB Energy announces partnership with Chinese company

Freeman Staff

April 17, 2015

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 manufacturing company.”