ZBB Energy Corp., a Menomonee Falls-based developer of renewable energy power platforms and hybrid vehicle control systems, announced today that Export-Import Bank of the United States will guarantee working capital loans to be made by InvestorsBank of Waukesha to finance the export of ZBB’s energy power control and storage systems.
The loan process is applied to individual foreign customers having entered into valid sales contracts with ZBB. Ex-Im Bank and InvestorsBank approved ZBB’s initial request for working capital of $1.14 million.
“We are looking forward to working with InvestorsBank and the Ex-Im Bank for current and future export financing. We have a growing pipeline of projects around the world, and the Ex-Im guarantee provides attractive financing to support a corresponding growth in working capital,” said Eric Apfelbach, chief executive officer and president of ZBB Energy. “Combined with our recently announced $10 million equity agreement with Aspire Capital, we have significantly improved our financial flexibility to support the growth of our business.”
The transaction is being made possible by utilizing Ex-Im Bank’s working capital financing that is available to exports of products manufactured in the United States.
“We are pleased to have secured this Ex-Im Bank guaranteed financing program for our valued customer, ZBB Energy, and we look forward to our continued banking relationship,” said David Mohorich, vice president of commercial banking at InvestorsBank.
