Menomonee Falls-based ZBB Energy Corp. recently announced that Bradley Hansen has been appointed to the position of chief executive officer and president. Former CEO Eric Apfelbach, who had served in the role since 2010, will become the vice chairman of the board.
Hansen joined ZBB Energy in May 2014 as president and chief operating officer. In a news release, the company said Hansen’s “broad operating background in both the U.S. and China fits perfectly with ZBB Energy’s global strategic plan.”
“After a year of working closely with Brad and seeing his leadership abilities firsthand, the board is very confident about the future of the company under Brad’s leadership,” said Paul Koeppe, chairman of the board. “His technical and organizational competency are essential as we build a global systems business.”
In the position of vice chairman, Apfelbach’s role will be to assist in investor relations, global business development, financial planning, and additional tasks that the board deems appropriate.
“The board is very pleased that Eric is stepping up to the vice chairman’s position where he can apply his broad experience and expertise,” Koeppe said. “With Brad and Eric in their new positions, the company is well-organized to capitalize on the emerging global markets it is targeting.”
The company also announced that Hoong Khoeng Cheong has been appointed to ZBB Energy’s board of directors. Cheong is currently the chief operating officer of Solar Power Inc., the China-based company that recently formed a strategic partnership with ZBB. ZBB shareholders approved that partnership on July 9.
ZBB Energy, which also announced July 9 that it is changing its name to EnSync Inc., closed the Securities Purchase Agreement and Supply Agreement with Solar Power today. The Supply Agreement requires ZBB Energy to deliver energy storage systems with total combined power output of 40 megawatts over a period of four years. The value of this initial supply agreement is estimated at $80 million to $120 million, depending on the mix of storage applications and installation requirements.
