The joint venture’s products will also be available on a non-exclusive basis in Hong Kong and Taiwan.
The partnership, currently known as “China JV Company” pending the registration of another name, also includes ZBB-Energy Corporation, ZBB-PowerSav Holdings, AnHui XinLong Electrical Company, and WuHu Huarui Power Transmission and Transformation Engineering Company.
The partnership enables PowerSav to enter the high growth Chinese energy storage market.
“The China market for energy storage and power management solutions is truly immense,” said Brad Hansen, PowerSav’s CEO and managing partner. “Energy generation and distribution challenges that China faces are significant and present an outstanding opportunity for the products that will be produced and sold by the JV company.
“The partners provide the leading technology, supply chain, manufacturing capability and market channels to enable the company to secure a significant share of the China market,” he said.
ZBB and PowerSav have been working together since November 2010 to identify an optimal path and partnerships to enter the China market. During that time, more than 75 potential joint venture partners and 25 cities and governments were screened and evaluated.
“China is making major investments in wind and solar power and the markets for energy storage systems for back-up power and for supplemental power during peak system loads exist now and will experience heavy growth for at least the remainder of the decade,” Hansen said.
“Additionally existing and future municipal and commercial building micro-grid and Smart Grid policies in China will create tremendous opportunity in the coming years,” he added.
For additional information:
