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ZBB Energy Highlights Strategic Plan; Expresses Confidence in Its Future

^{Published on 2010-05-21 07:40:13 - Market Wire}
 

MILWAUKEE, WI--(Marketwire - May 21, 2010) - ZBB Energy Corporation (NYSE Amex: [ ZBB ]), a leading developer of intelligent power platforms, today outlined its strategic plan for achieving commercial success. The plan, which was presented at the Rodman and Renshaw Global Investment Conference in London, UK, builds on recent company successes, including increasing its order backlog and demonstrating an ability to raise capital to securing State of Wisconsin loan commitments and federal energy tax credits.

"I want to encourage investors, customers and other interested parties to look at our strategic plan and gain a broad appreciation for our path to success," said Eric Apfelbach, ZBB Energy's Chief Executive Officer. "The pieces of information that were highlighted in press headlines this week presented an incomplete and inaccurate picture of ZBB Energy and what it's trying to achieve. The press has since corrected the inaccuracies and added some important clarifying information, but the complete picture is still lacking, and that's what we are trying to address in highlighting our strategic plan."

Mr. Apfelbach pointed to a number of accomplishments described in detail in ZBB Energy's recent third quarter news release, third quarter 10-Q and recent S-1 filing with the SEC, based on the hard work and commitment of ZBB Energy employees. They include:

• Increased order backlog -- current customer orders are detailed in the S-1.
• Accelerated Product Development -- manufacturing has been retooled for the next generation battery module (V2) launch, with version 3 (V3) development ahead of schedule.
• A solid team of professionals is on board to execute the strategic plan.
• The company's demonstrated ability to raise equity capital.
• A State of Wisconsin $1.3 million loan commitment and subsequent $1.5 million bank commitment.
• A U.S. Department of Energy award of $14.6 million in tax credits adding to ZBB Energy's enterprise value. Intellectual Property and net operating loss (NOL) discussions are in the S-1 filing.
• Improved financial accounting and disclosure processes.

"ZBB Energy is confident in its future prospects resulting from the plan outlined in the referenced documents," Mr, Apfelbach added. "We look forward to announcing results as we execute the plan."

A Power Point version of ZBB Energy's strategic plan is available with Mr. Apfelbach's voiceover at [ http://www.wsw.com/webcast/rrshq17/zbb/ ].

Registration Statement

ZBB Energy also filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the sec for more complete information about the issuer and this offering. You may get these documents for free by visiting Edgar on the sec web site at [ www.sec.gov ]. The issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling (262) 253-9800.

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.