SHANGHAI | SOLAR POWER INC —
SPI announced the closing of a Securities Purchase Agreement (“SPA”) with ZBB Energy Corporation (NYSE MKT: ZBB), a leading developer of innovative energy management systems solutions serving the utility, commercial and industrial building markets. Along with the closing of the SPA, SPI entered into a Supply Agreement and a Governance Agreement with ZBB.
The execution of the SPA was previously announced on April 17, 2015.
“The application of cutting-edge energy storage technology to solar energy solutions will be a key driver of PV system expansion worldwide in the coming years,” said Xiaofeng Peng, Chairman of SPI. “This strategic partnership with energy storage systems leader ZBB positions SPI to address a range of next generation PV system requirements from energy storage solutions to power efficiency management.”
About Solar Power, Inc. (OTCBB: SOPW)
Solar Power, Inc. (“SPI” or the “Company”) is a global leader in enabling photovoltaic (“PV”) solutions for business, residential, government and utility customers and investors. SPI focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company also operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products. The Company has its operating headquarters in Shanghai and global operations in Asia, Europe, North America and Australia.
About ZBB Energy Corporation
ZBB Energy Corporation (“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.