MILWAUKEE, WI--(Marketwired - May 20, 2014) - ZBB Energy Corporation (NYSE MKT: ZBB), the leading developer of intelligent, renewable energy power platforms, announced today that Brad Hansen has been named ZBB's President and Chief Operating Officer and was also appointed to the Board of Directors of ZBB Energy Corp. effective immediately. Mr. Hansen replaces Charles Stankiewicz who previously served as Chief Operating Officer and as a director of the Company. Mr. Stankiewicz will assist in the transition of his COO duties to Mr. Hansen.
Since December 2011, Mr. Hansen has served as the Chief Executive Officer of Anhui Meineng Energy, our Chinese joint venture company, where he has led Meineng's organization and development. In 2010, Mr. Hansen founded and continues to serve as Managing Partner of PowerSav Inc., a boutique private equity fund targeting China government policy supported markets. Mr. Hansen has extensive expertise in the international renewable energy industry, having held various executive positions with Applied Materials, Inc. from 1989 to 2010. While at AMAT, Mr. Hansen led global sales and site operation organizations for its solar product line, an important growth driver of AMAT. Prior to this role, as Corporate Vice President New Business and New Products Group Mr. Hansen directed the acquisition and integration activities for AMAT's strategic Applied Films Corporation acquisition. Mr. Hansen also held a number of key product development and operations roles at AMAT, including Vice President and General Manager of the Chemical Mechanical Planarization Product Business Group. Mr. Hansen worked as an Engineer and Program Manager for the Boeing Electronics Company Division of The Boeing Company. He holds a Bachelor of Science degree in Manufacturing Engineering from Brigham Young University and an MBA from Seattle University.
As an inducement to join the Company, Mr. Hansen was issued inducement stock options to purchase a total of 360,000 shares of Company common stock with an exercise price of $1.72 per share, which was the closing price of the Company's common stock on the NYSE MKT on May 19, 2014. The options will vest and become exercisable in three equal annual installments. Mr. Hansen also will be issued an award of inducement restricted stock units covering 360,000 shares of Company common stock that will vest upon the achievement of certain performance vesting conditions.
Mr. Hansen will report to Eric Apfelbach, CEO of ZBB. Mr. Hansen's responsibilities include all Manufacturing, R&D, Engineering, Human Resources and Sales and Marketing. Finance and Business Development will report to Mr. Apfelbach. In addition, Mr. Hansen's responsibilities also include the continued management of Meineng. This will bring the two companies closer together making more efficient use of resources at both companies.
Said Brad Hansen, President and COO of ZBB, "I'm excited to be joining ZBB and having the opportunity to help grow ZBB and Meineng together. The synergies align perfectly and will help to accelerate the development of the next generation electronics and battery systems."
Said Eric Apfelbach, CEO of ZBB, "We are very pleased that Brad is joining our team at ZBB. His intimate knowledge of our products, operational expertise, extensive customer knowledge in the renewable space, as well as his proven leadership capability means he can provide immediate value to ZBB. I look forward to working with Brad to accelerate the growth of both ZBB and Meineng and expand the synergies that exist between the two companies."
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, engineering and development, and production facilities are located in Menomonee Falls, WI, USA with a research facility also located in Perth, Western Australia. ZBB has a joint venture with Meineng Energy, a provider of leading-edge energy storage systems and solutions to the greater China market. For more information, visit: www.zbbenergy.com.
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