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Power/Alternative Energy??

Low-cost flow battery from zinc-bromide technology

Posted: 18 Apr 2011 ?? ?Print Version ?Bookmark and Share

Keywords:flow battery? zinc-bromide technology? energy? petrochemicals?

ZBB Energy Corp. (ZBB) announced a joint development agreement with Honam Petrochemical Company (Honam), a division of the Lotte Group, headquartered in Seoul, South Korea.

Honam, a producer of petrochemicals and advanced synthetic resins, has identified energy storage as a strategic priority business. Honam determined ZBB the ideal partner with which to align, as Honam ultimately desires to manufacture and sell ZBB's V3 Flow Battery within Korea. ZBB and Honam's partnership is expected to result to better cost and performance achievements to the V3 technology, which has been in development since January 2010 and is due to be released to manufacturing in September of this year.

Specifically, Honam and ZBB will work together to refine the materials and manufacturing process for the V3 battery in module sizes of 50 kWh up to 500 kWh. With Honam's position in the plastics supply chain and its research capability, it is expected that the two companies will quickly reach global scale production. The leading initiative for the joint development agreement calls for prototype systems to be shipped and tested at development labs in South Korea, with a Beta site then to be selected to demonstrate the V3 battery as a critical component of the Korean Smart Grid Project.

"Our collaboration with Honam will enable the global scale production and market penetration of the Zinc-Bromide flow battery by giving us access to critical supply chains, strong R&D, and a powerful channel partner," says Eric Apfelbach, CEO of ZBB. "We look forward to deepening the relationship over the coming years as we grow the flow battery business in Asia. Honam and ZBB share the vision that energy storage is a 'Megatrend' opportunity as solar and wind energy reach grid parity and global scale."

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 and will pay a royalty for jointly developed product sold outside of Korea.





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