MILWAUKEE, April 13, 2017
/PRNewswire/ -- EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy
Systems, a leading developer of innovative distributed energy
resource (DER) systems and internet of energy (IOE) control
platforms for the utility, commercial, industrial and multi-tenant
building markets, today announces that it has entered into a Power
Purchase Agreement (PPA) with a Hawaii-based food processing company. The DER
system is designed to provide sustainability and electrical
resiliency by adding solar plus storage at the processor's site,
while also supporting expansion of grid service capabilities with
the local utility.
Based on Oahu, the food
processing company selected EnSync Energy's DER platform
technologies to expand upon the processing company's sustainability
and energy resiliency goals. This project will triple the capacity
of the food processor's onsite solar PV array, as well as add
energy storage and upgrade their energy management system
with new IOE DER Flex™ software to prepare them for electricity
program changes in late 2017.
When the project is complete the company will have more than 600
kilowatts of solar PV onsite and 850 kilowatt-hours of hybrid
energy storage to provide for both power and energy
requirements. The power controls and energy storage will
reside in two EnSync Energy SuperModule™, 20' containers that can
quickly be placed and connected at the site.
"We're looking forward to helping a company with such deep
Hawaiian roots and commitment to sustainability goals further
enhance their operations with electricity cost management and
renewable energy resilience," said Brad
Hansen, CEO of EnSync Energy. "This opportunity,
developed by EnSync's project development subsidiary Holu Energy in
Honolulu, will meet the
processor's desire for uninterruptible power and long term
energy resilience, ensuring reliable operation of their
refrigeration assets, as well as other critical operations at the
food processing and distribution facility."
The system will meet immediate needs by allowing the facility to
enroll in HECO's upcoming grid services programs in return for
compensation from the utility for operating energy storage in a
manner that concurrently supports the grid. When needed, the
energy stored in the batteries will help maintain the company's
critical operations, such as processing and refrigeration at full
operation for several hours.
To prepare the company for energy program changes scheduled
later in 2017, and to add more value to their overall system,
EnSync Energy's DER Flex™ IOE technology will be deployed.
Specifically, DER Flex makes it possible for the company
to participate in upcoming grid programs and in return receive
compensation. Enrollment in programs like fast frequency
response and non-spinning auto reserves would require the batteries
to discharge energy when called upon by a local utility during a
grid disturbance.
About EnSync Energy Systems
EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, is
creating the future of electricity with innovative distributed
energy resource (DER) systems and internet of energy (IOE) control
platforms. EnSync Energy ensures the most cost-effective and
resilient electricity, delivered from an electrical infrastructure
that prioritizes the use of all available resources, such as
renewables, energy storage and the utility grid. As project
developer, EnSync Energy's distinctive engagement methodology
encompasses load analysis, system design consulting, and technical
and financial modeling to ensure energy systems are sized and
optimized to meet our customers' objectives for value and
performance. Proprietary direct current (DC) power control
hardware, energy management software, and extensive experience with
numerous energy storage technologies uniquely positions EnSync
Energy to deliver fully integrated systems that provide for
efficient design, procurement, commissioning, and ongoing
operation. EnSync Energy's IOE control platform adapts easily
to ever-changing generation and load variables, as well as changes
in utility prices and programs, ensuring the means to make or save
money behind-the-meter, while concurrently providing utilities the
opportunity to use DERs for an array of grid enhancing services. In
addition to direct system sales, EnSync Energy includes power
purchase agreements (PPAs) in its portfolio of offerings, which
enables electricity savings for customers and provides a stable
financial yield for investors. EnSync Energy is a global
corporation, with joint venture Meineng Energy in
AnHui, China, and energy project
development subsidiary Holu Energy LLC in Hawaii, and DCfusion LLC, a power
system engineering and design, consultancy and policy firm. For
more information, visit www.ensync.com
Safe Harbor Statement
Certain statements made in this press release contain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended that are intended to be
covered by the "safe harbor" created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe our future plans, strategies and expectations, can
generally be identified by the use of forward-looking terms such as
"believe," "expect," "may," "will," "should," "could," "seek,"
"intend," "plan," "estimate," "anticipate" or other comparable
terms. Forward-looking statements in this press release may address
the following subjects among others: our ability to monetize our
PPA assets, statements regarding the sufficiency of our capital
resources, expected operating losses, expected revenues, expected
expenses and our expectations concerning our business strategy.
Forward-looking statements involve inherent risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements, as a result of various factors
including those risks and uncertainties described in the Risk
Factors and in Management's Discussion and Analysis of Financial
Condition and Results of Operations sections of our most recently
filed Annual Report on Form 10-K and our subsequently filed
Quarterly Reports on Form 10-Q. We urge you to consider those risks
and uncertainties in evaluating our forward-looking statements. We
caution readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
Except as otherwise required by the federal securities laws, we
disclaim any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in our expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe
Dorame
(602) 889-9700
EnSync Media Contact:
Michelle Montague
(262) 735-5676
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ensync-energy-enters-into-power-purchase-agreement-with-food-processing-company-in-hawaii-300439125.html
SOURCE EnSync Energy Systems