SOURCE: ZBB Energy Corporation
MILWAUKEE, WI--(Marketwire - Apr 1, 2013) - ZBB Energy Corporation (NYSE MKT: ZBB), a leading developer of intelligent, renewable energy power platforms and hybrid vehicle control systems, announced today that its wholly owned Australian subsidiary, ZBB Energy Pty, has received approval from the Australian Taxation Office for a $180,000 tax credit refund under the Australian government's R&D tax credits program for fiscal year 2012. The tax credit refund is a cash payment and is expected to be received in the fourth fiscal quarter of 2013.
The Australian R&D tax credits offset program was created by the Australian government to provide Australian businesses with a reward for research and development innovation. ZBB Energy Pty conducts the core research for the company's flow battery technology development, and also conducts several key research activities in collaboration with the Lotte Group.
"We appreciate the continued support of the Australian government for our research activities in Australia," said Eric Apfelbach, CEO and President of ZBB Energy. "Our R&D efforts on new product designs, cost reduction, and performance improvements on our flow battery technology are very promising, and will help keep us in the leadership position we currently hold."
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 and production facilities are located in Menomonee Falls, Wisconsin, USA with offices also located in Perth, Western Australia. For more information, visit: www.zbbenergy.com.
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