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MarketScreener Homepage  >  Equities  >  Nyse MKT  >  EnSync Inc    

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ZBB Energy : Signs Power Purchase Agreement With Hawaiian University Valued at Approximately $3 Million

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07/07/2015 | 08:30am EDT

MILWAUKEE, WI--(Marketwired - Jul 7, 2015) - ZBB Energy Corporation (NYSE MKT: ZBB), the world's leading developer of energy management systems serving the utility, commercial and industrial building markets, signed a 20-year Power Purchase Agreement (PPA) with University of the Nations on the Island of Hawaii. The installation will feature the industry's most advanced distributed generation system, comprised of 408kW of photovoltaic panels, Agile Hybrid batteries, and accompanying Matrix electronic power controls. In addition to providing resiliency and availability of power during grid outages, the state-of-the-art power plant and partnership with the university is expected to result in more than $2.4 million in energy savings over the lifetime of the PPA.

The University of the Nations installation is an example of how ZBB's innovative products and services are changing the way electricity is generated and managed by saving customers, like schools, commercial, and residential buildings, millions of dollars in electricity spending, while significantly reducing CO2 emissions. ZBB has recently announced and commissioned multiple grid-tied micro grid projects in Hawaii, creating numerous, unique benefits in customer-side-of-the-meter applications. ZBB's energy management system features the recently introduced Agile Hybrid Battery, the only storage system that combines the robust energy characteristics of a zinc bromide flow battery with the highly desirable power characteristics of lithium ion storage batteries in a safe, compact and economical system.

"We entered the commercial and industrial building market segment by developing the best storage and energy management platforms in the market. They are highly innovative and can simultaneously perform many power and energy applications in the most efficient manner. We implemented the PPA model into our portfolio to provide our customers with savings in electricity and our company's investors an instrument that generates a high financial rate of return over a long duration and we will continue to build our portfolio of PPAs," said Brad Hansen, President and COO of ZBB Energy. "There are hundreds of thousands of commercial, industrial and campus locations in our target markets that are paying high electricity rates or have poor power quality. Our products and services solve both problems, and do so more economically than other offerings in the market."

Founded in 1978, University of the Nations is a Christian university with branches in 600 locations in more than 140 countries. Its campus in Kona, Hawaii, is one of its largest. The installation is scheduled for completion in two phases beginning in the fourth calendar quarter of 2015, with operation pending completion of the necessary permits.

About ZBB Energy Corporation
ZBB Energy Corporation (NYSE MKT: ZBB) is an applications solutions company providing advanced energy management systems critical to the transition from a "coal-centric economy" to one reliant on an enormous expansion in renewable energy. Whether part of the grid power transmission and distribution network, or behind the meter in commercial, industrial and multi-tenant buildings, ZBB Energy brings vital power control and energy storage solutions to the most pressing problems caused by the incorporation of increasingly pervasive renewable energy generating assets. ZBB Energy also provides energy management systems for off-grid applications such as island or remote power. In 2015 ZBB incorporated power purchase agreements (PPA's) into its portfolio of offerings, enabling electricity savings for customers and providing a stable financial yield for investors. ZBB is a global corporation, with a joint venture in AnHui, China at Meineng Energy, as well as a strategic partnerships with SPI Inc., a global solar solutions company with headquarters in Shanghai, China and with Lotte Chemical in South Korea. For more information, visit: www.zbbenergy.com.

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.


© Marketwired 2015
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NameTitle
Sandeep Gupta Director, Chief Executive & Restructuring Officer
William Dallapiazza Chief Financial & Accounting Officer
Kevin A. Dennis VP-Engineering & Product Development
Manfred Emanuel Birnbaum Independent Director
Daniel Anthony Nordloh Executive VP-Global Business Development
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