MILWAUKEE, June 6, 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 the
sale of a power purchase agreement (PPA) for a Hawaii-based food processing company. Upon
completion, the DER system will provide sustainability and
electrical resiliency by adding solar plus storage at the
processor's site, while also supporting participation and
monetization of grid services with the local utility.
The system will have more than 400 kilowatts of solar PV onsite
supported by two EnSync Energy SuperModule™ systems that includes
850 kilowatt-hours of hybrid energy storage, a Matrix™ Energy
Management system and DER Flex™ IOE technology in 20-foot
containers which can quickly be placed and connected at the
site. Revenue from the sale will be recognized upon
completion of project milestones over the next several
quarters.
"This opportunity, developed by EnSync Energy's project
development subsidiary Holu Energy in Honolulu, is intended to meet the processor's
desire for uninterruptable 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," said Brad
Hansen, CEO of EnSync Energy. "We believe this project
further validates our status as a pioneer developer of solar plus
energy storage DERs in commercial and industrial buildings in
Hawaii, including being the first
there to commercialize the use of power purchase agreements for
these systems."
When needed, the energy stored in the batteries is designed to
support the company's critical operations, such as processing and
refrigeration, at full operation for several hours. The
system will also allow the company to enroll in Hawaiian Electric
Company's upcoming grid services program in return for compensation
from the utility for operating the system in a manner that
concurrently supports the grid. To prepare the facility for
these programs the system will include EnSync Energy's DER Flex IOE
technology which permits fully integrated DER to utility
connectivity. Specifically, DER Flex enables programs like
fast frequency response and non-spinning auto reserves that 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
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SOURCE EnSync Energy Systems