The energy storage project aims to develop low cost, high energy density grid scale flow battery stacks and systems that could lead to a significant cost reduction for grid level storage.
The strategic partner is investing $800,000 to fund the first phases of the joint development project and purchasing $700,000 of ZBB common stock at market price.
This equity investment is part of a $1.8m financing round involving additional investors.
The majority of the work will be done at ZBB’s headquarters in Menomonee Falls, Wisconsin, and is expected to begin in early January 2012.
ZBB president and CEO Eric Apfelbach said the partnership enables us to expand our product capability in a way that couldn’t be done without such a strong financial partner.
