ZBB Energy (ZBB) Signs Development, License Agreement; to Get $700M Investment
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ZBB Energy Corporation (AMEX: ZBB), has signed a joint development and license agreement and a stock purchase agreement with a major global technology company to jointly develop flow batteries. The objective of the project is to develop low cost, high energy density grid scale flow battery stacks and systems that could lead to a significant cost reduction for grid level storage.
The strategic partner is investing $800,000 to fund the first phases of the joint development project and purchasing $700,000 of ZBB common stock at market price. This equity investment is part of a $1.8 million financing round involving additional investors.
The strategic partner is investing $800,000 to fund the first phases of the joint development project and purchasing $700,000 of ZBB common stock at market price. This equity investment is part of a $1.8 million financing round involving additional investors.
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