SOURCE: ZBB Energy Corporation


September 13, 2010 08:25 ET

ZBB Energy Announces Changes in Board of Directors' Roles

Mundell to Not Stand for Reelection, Koeppe Named Chairman

MILWAUKEE, WI--(Marketwire - September 13, 2010) - ZBB Energy Corporation (NYSE Amex: ZBB), a leading developer of intelligent, renewable energy power platforms, today announced a reorganization of its Board of Directors.

William Mundell has decided to not stand for reelection to the Board of Directors. "My current political commitments in my home state of California are making it increasingly difficult for me to devote the time and energy necessary to continue to serve," said Mr. Mundell, whose term expires in November. "I've enjoyed my involvement with ZBB over the years and wish the company well in its future endeavors." Manfred Birnbaum a director said, "Mundell navigated the company through two critical financings, rebuilt the board to enhance its technical and management expertise, and managed the transition from the company's founder to a new CEO. These steps have positioned the company for future success". 

Paul Koeppe, who was named Chairman of the Board, said, "We want to thank Bill for his service over the past few years. His leadership and positive involvement in the company have been a key asset in making difficult decisions during his tenure." Mr. Mundell was named chairman of ZBB's Board of Directors in 2008. He joined the board in 2007.

Mr. Koeppe was appointed a member of ZBB Energy's Board of Directors in August of 2009. In November of 2009, he was named Interim CEO, beginning a process of restructuring the company. Eric Apfelbach replaced Mr. Koeppe as the permanent CEO in January of this year. In February 2010, Mr. Koeppe was named Chairman of the Audit Committee. 

Richard A. Abdoo, Chairman of the Nominating and Governance Committee, said, "Besides providing leadership this past year, Paul has also invested substantial time and capital in helping ZBB overcome a number of obstacles. We are very pleased that Paul has accepted the position of Chairman of the Board."

Mr. Koeppe serves as a Director at InContact, a publicly traded contact center software development company. Previously, Mr. Koeppe was CEO, President and Founder of Superconductivity, Inc, a manufacturer of superconducting magnetic energy storage devices which was acquired by American Superconductor Corporation. He was also CEO and Chairman of the Executive Committee at Best Power, Inc. at the time it was acquired by General Signal Corporation. Mr. Koeppe has served on the boards of other public and private energy related start-up companies and has extensive utility experience.

Regarding ZBB Energy, Mr. Koeppe said, "I've spent most of my professional career in the energy industry. I'm very pleased to be involved at ZBB Energy, a company that I believe is on the threshold of becoming a key contributor in the renewable and energy storage market and well positioned to provide a substantial increase in shareholder value."

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