SOURCE: ZBB Energy Corporation

ZBB Energy Corporation

August 19, 2010 08:50 ET

President Obama Praises ZBB Energy

MILWAUKEE, WI--(Marketwire - August 19, 2010) -  President Barack Obama visited ZBB Energy Corporation (NYSE Amex: ZBB) on August 16 to tour the company and learn more about the development of intelligent, renewable energy platforms. The visit to ZBB was part of the President's effort to highlight his clean energy policies. 

Speaking to a group of ZBB employees and guests, the President praised the company for leading the way in clean energy manufacturing and helping the United States economy to grow.

"For years, we've heard about manufacturing jobs disappearing overseas," said President Obama at the event. "Well, companies like this are showing us how manufacturing can come back right here in the United States of America, right back here in Wisconsin."

The President praised ZBB for "pointing the country towards a brighter economic future" and the company's commitment to expanding its manufacturing operations in southeastern Wisconsin. 

During the visit, President Obama toured the facility and saw the large advanced energy storage modules the company manufactures. ZBB's technology transforms intermittent renewable energy into a reliable power source through intelligent power-management systems and advanced storage technologies that make it easier for companies throughout the world to use green energy in their operations. 

"We're honored that the President selected ZBB Energy for a visit. It allowed us to showcase to the world the exciting work we are doing here. His visit also helps drive interest in a greener, more sustainable economy," said Eric Apfelbach, president and CEO of ZBB. 

"Our innovative, environmentally friendly energy storage and power control platforms are designed to ensure cleaner energy, maximum efficiencies and flexibility for future requirements," said Apfelbach. "We were honored to host President Obama, and it's a credit to our incredible team of talented people."

Headquartered in Menomonee Falls, Wisconsin, ZBB Energy is expanding production of advanced zinc bromide flow batteries and intelligent power control platforms for renewable energy storage with the help of a $1.3 million Recovery Act State Energy Program loan. This low interest loan is repaid to taxpayers over a seven year period. To date, the company has drawn less than $500,000 of this loan amount and will contribute over $3 million in additional capital to accelerate job creation in the project. In addition, the company has an authorized $14.68 million Recovery Act 48c Advanced Energy Manufacturing Tax Credit to construct a new manufacturing facility in Wisconsin. This tax credit applies to one third of capital equipment purchases. To utilize this credit, the company will have to spend over $45 million on capital equipment and have profits to apply the tax credits against. To date, the company has not announced plans that would allow it to utilize these credits.

ZBB serves a variety of global markets, including utility, government, commercial, industrial and residential end customers. ZBB also provides its products to the U.S. Department of Defense through its various relationships with major defense contractors. The company has a 75,000 square foot manufacturing facility in Menomonee Falls, as well as research and development offices in Perth, Australia.

About ZBB Energy Corporation
ZBB Energy Corporation (NYSE Amex: ZBB) provides distributed intelligent power management platforms that directly integrate multiple renewable and conventional onsite generation sources with rechargeable zinc bromide flow batteries and other storage technology. This platform solves a wide range of electrical system challenges in global markets for various types of sites with utility, governmental, commercial, industrial and residential end customers. A developer and manufacturer of its modular, scalable and environmentally friendly power systems ("ZESS POWR™"), ZBB Energy was founded in 1998 and is headquartered in Wisconsin with offices also located in Perth, Western Australia.

Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including statements relating to ZBB's growth, are forward-looking statements within the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including historical volatility and low trading volume of our stock, the risks and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

Contact Information

  • Contact Information:
    Helen Brown
    Investor Relations
    ZBB Energy Corporation
    T: 262.253.9800
    Email: Email Contact