ZBB Energy and Solar Power, Inc. (SPI) Announce Global Strategic Partnership With an Initial Supply Agreement Valued at Between $80 Million and $120 Million - Seite 2

ZBB Energy has recently expanded its product portfolio to include dedicated commercial and industrial building focused solutions, naturally complementing SPI's strength in addressing distributed generation (DG) system solutions. In addition, SPI's significant presence in utility-scale PV projects provides an excellent opportunity for ZBB's next-generation multi-MWh storage products.

"This partnership between SPI and ZBB Energy is all about accelerating global solar penetration through the marriage of solar plus storage," said Xiaofeng Peng, Chairman of SPI. "Energy storage systems are becoming vital to PV system expansion worldwide due to a number of factors, and we believe that ZBB's leading technology will help SPI become an early-mover in capturing this huge global opportunity. In particular, the global shift toward DG solar has magnified the need to develop viable energy storage solutions for the commercial and industrial segments. We look forward to accomplishing great success working together in the years ahead."

In addition to the initial $33.4 million investment into ZBB Energy, the Securities Purchase Agreement also contemplates that ZBB will issue to SPI a warrant to purchase 50,000,000 shares of ZBB common stock for an aggregate purchase price of $36.7 million and a per share exercise price equal to $0.7346.

The closing of the SPA and execution of the Supply Agreement is expected to take place following satisfaction of various closing conditions under the SPA, including obtaining the approval of the Company's shareholders. ZBB has agreed to prepare a proxy statement and convene and hold a special meeting of the Company's shareholders to consider and approve the SPA.

Additional information can be found in the Company's 8-K filing submitted to the SEC today.

Craig-Hallum Capital Group, LLC is acting as exclusive financial advisor to ZBB Energy and provided a fairness opinion to the ZBB Energy Board of Directors.

About ZBB Energy Corporation
ZBB Energy Corporation (NYSE MKT: ZBB) is an applications solutions company providing advanced energy management systems critical to the transition from a "coal-centric economy" to one reliant on an enormous expansion in renewable energy. Whether part of the grid power transmission and distribution network, or behind the meter in commercial, industrial and multi-tenant buildings, ZBB Energy brings vital power control and energy storage solutions to the most pressing problems caused by the incorporation of increasingly pervasive renewable energy generating assets. ZBB Energy also provides energy management systems for off-grid applications such as island or remote power. ZBB is a global corporation, with a joint venture in AnHui, China at Meineng Energy, as well as a strategic partnership with Lotte Chemical in South Korea. For more information, visit: www.zbbenergy.com.