SOURCE: ZBB Energy Corporation

ZBB Energy Corporation

February 07, 2011 08:30 ET

NYSE AMEX Accepts ZBB Energy's Compliance Plan

MILWAUKEE, WI--(Marketwire - February 7, 2011) - ZBB Energy Corporation (NYSE Amex: ZBB) (the "Company"), a leading developer of intelligent, renewable energy power platforms, announced today that the NYSE Amex (the "Exchange") has accepted its compliance plan for continued listing.

As previously reported, on December 2, 2010, the Company received notice from the Exchange staff indicating that the Company was considered to be noncompliant with the requirements of Section 1003(a)(i) of the Exchange's Company Guide with respect to minimum stockholders' equity based on its annual report for the period ended June 30, 2010, and its quarterly report for the period ended September 30, 2010. The notice provided that the Company should submit a plan that would reestablish compliance with the listing requirements. On January 7, 2011, the Company announced that it had submitted a plan designed to reestablish compliance with the Exchange's continued listing standards.

On February 4, 2011, the Exchange staff notified the Company that it had accepted the Company's compliance plan and granted the Company an extension until June 12, 2012, to regain compliance with the continued listing standards. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the applicable extension periods could result in the Company's shares being delisted from the Exchange. The Company will be able to continue its listing during the plan period pursuant to the extension and will be subject to periodic review by the Exchange staff.

Eric C. Apfelbach, the Company's President and Chief Executive Officer, stated, "We are executing on our plan and believe the successful execution of this plan will enable us to regain compliance with the Exchange's listing standards."

About ZBB Energy Corporation
ZBB Energy Corporation (NYSE Amex: ZBB) provides advanced electrical power management platforms 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 intelligent power management platforms that directly integrate multiple renewable and conventional onsite generation sources with rechargeable zinc bromide flow batteries and other storage technology. The company also offers advanced systems to directly connect wind and solar equipment to the grid and systems that can form various levels of micro-grids. 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. 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, USA with offices also located in Perth, Western Australia.

Safe Harbor Statement
Certain statements made in this press 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 of 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.

Contact Information

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