Wisconsin-based energy management, storage company ZBB Energy closes additional US$2M financing

Rachel Carter

MILWAUKEE, Wisconsin , January 31, 2011 (press release) – ZBB Energy Corporation (NYSE Amex: ZBB) (the "Company") today announced that it has closed a $2 million tranche with Socius Capital. In connection with the tranche, Socius (1) purchased for cash $2 million of Series A preferred stock and (2) purchased for a secured promissory note $2.7 million of shares of common stock priced at $1.41 per share.

In addition, the Company reported that it is filing with the Securities and Exchange Commission a universal shelf registration statement on Form S-3 covering the offer and sale from time to time of up to $25 million of securities, which may include additional securities issued pursuant to the Socius agreement as well as other equity, debt and other securities as described in the registration statement. The Company believes that filing a shelf registration statement is an efficient means to access the capital markets and maximize its financial flexibility. While the Company does not have any immediate plans to offer securities under this shelf registration, it is intended to give ZBB the flexibility to take advantage of financing opportunities as needed or deemed desirable in light of market or other conditions.

The terms of any offering under the shelf registration statement will be determined at the time of offering. Proceeds from the sale of any securities will be used for the purposes described in a prospectus supplement filed at the time of an offering.

The registration statement has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the shelf registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of the securities covered under the shelf registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering.

About ZBB Energy

ZBB Energy Corporation (NYSE Amex: ZBB) provides advanced electrical power management platforms targeted at the growing global need for distributed renewable energy, energy efficiency, power quality, and grid modernization. ZBB and its power electronics subsidiary, Tier Electronics, LLC have developed a portfolio of intelligent power management platforms that directly integrate multiple renewable and conventional onsite generation sources with rechargeable zinc bromide flow batteries and other storage technology. The company also offers advanced systems to directly connect wind and solar equipment to the grid and systems that can form various levels of micro-grids. Tier electronics participates in the energy efficiency markets through their hybrid vehicle control systems, and power quality markets with their line of regulation solutions. Together, these platforms solve a wide range of electrical system challenges in global markets for 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, USA with offices also located in Perth, Western Australia.

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