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New Age Energy, Inc ("NAE"), a technology sales and engineering company, provides affordable, renewable energy sources for industry and government facilities. ZBB Energy Corporation is a developer and manufacturer of distributed energy storage solutions known as Zinc Energy Storage Systems (ZESS).
ZBB Energy Corporation CEO Rob Parry said the partnership was a natural for both companies.
"We're very excited to be working with New Age," Parry said. "New Age has a firm understanding of the need for energy storage and for opening key market channels for ZESS products into their zero net energy building systems. New Age also understands the ZESS applications for utility, commercial and institutional integrations and will be focusing on these key market areas."
In order to achieve zero net energy, which means the facility generates and utilizes its own power, the Rutgers visitors center will use multiple ZESS 50(TM) energy storage systems in order to store energy at the time of generation for later use when those generating sources, such as solar, are not available. Based on ZBB's proprietary 50 kWh energy storage module the ZESS 50(TM) is a standard product and may also be configured and packaged as a fully customized energy storage system, according to Parry.
"Efficient, effective energy storage is the 'Holy Grail' of the electrical industry," said Michael Betsch, New Age Energy's CEO. "No matter what kinds of alternative renewable energy sources are developed, they cannot be fully utilized if there's no way to store the energy they generate for use during peak-demand hours. ZBB's electrical fuel cell is the answer." Rutgers University, in its ongoing quest to construct a Green building that uses net zero energy, has hired NAE to incorporate ZBB's fuel cell as the electrical storage system for its new Visitors Center. "The compact, environmentally friendly, efficient storage of electricity is the future of green renewable technologies and energy security," says Mike Kornitas, Energy Conservation Manager of Rutgers.
Erwin Bogner, President of New Age predicted that Rutgers University's visitors center will be a model for future green net-zero buildings. However, he plans to target the bulk of NAE's marketing efforts towards utility companies and renewable generators, promoting the storage cell either as a stand-alone product or in combination with concentrated solar systems. "I believe that's the true market for this product going forward," Bogner said.
About ZBB Energy Corporation
ZBB Energy Corporation develops and manufactures distributed energy storage solutions based on the Company's proprietary environmentally friendly, zinc rechargeable electrical energy storage technology. The unique modular construction of the Company's core 50 kWh product enables ZBB's fuel cell type energy storage system to be sized and packaged as products (ZESS 50(TM), ZESS 500(TM)) as well as a fully customized, large format, energy storage system. This scalable, mobile system is ideally suited for large market applications.
About New Age Energy, Inc.
New Age Energy Inc. is an innovative technology sales and engineering company that provides affordable, renewable energy solutions for industry and government facilities. By integrating renewable energy sources with a high-capacity energy storage system and a customizable energy management system, New Age Energy has the potential to provide its clients with up to 100 percent of their renewable energy needs.
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offering, 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 risk and uncertainties that may cause actual results to differ materially, including historical volatility and low trading volume of our stock, the risk 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.
About SMH Market & Liquidity Services
SMH Market & Liquidity Services is an unregulated affiliate of SMH Capital Inc., a registered broker-dealer and a member of FINRA and SIPC, and a subsidiary of Sanders Morris Harris Group. SMH Market & Liquidity Services helps small cap companies seeking to expand their investor exposure and market depth and breadth through a broad spectrum of services that include comprehensive perspective reports, strategic shareholder communications, and trading analysis. SMH Market & Liquidity Services receives compensation from its company clients for all communications and publications prepared on its behalf (http://www.smhmls.com). In addition, SMH Capital may provide, or may have provided, any of its services to the subject company, including market making, specialized and other proprietary trading, fund management, investment services and investment banking. This is not a solicitation to buy or offer to sell or the subject company's securities.
SOURCE ZBB Energy Corporation
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