ZBB Energy (ZBB) Enters V3 Battery Joint Development Agreement with Honam Petrochem
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ZBB Energy Corp. (AMEX: ZBB) has entered into a joint development agreement with Honam Petrochemical, a division of the Lotte Group.
Honam and ZBB will work together to refine the materials and manufacturing process for the V3 battery in module sizes of 50kWh up to 500kWh.
Key terms of the agreement include that Honam will pay ZBB $3 million over a four-quarter period and gain non-exclusive rights to sell the V3 product in Japan, Thailand, Taiwan, Malaysia, Vietnam and Singapore. Honam will have exclusive rights to manufacture and sell the V3 within Korea. Honam will pay a royalty for jointly developed product sold outside of Korea.
Honam and ZBB will work together to refine the materials and manufacturing process for the V3 battery in module sizes of 50kWh up to 500kWh.
Key terms of the agreement include that Honam will pay ZBB $3 million over a four-quarter period and gain non-exclusive rights to sell the V3 product in Japan, Thailand, Taiwan, Malaysia, Vietnam and Singapore. Honam will have exclusive rights to manufacture and sell the V3 within Korea. Honam will pay a royalty for jointly developed product sold outside of Korea.
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