MILWAUKEE, June 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 announced it will work
with Schneider Electric to explore
technology and opportunities in the DER market.
After reviewing EnSync's Matrix™ Energy
System, the two companies identified areas of mutual
interest for collaboration. Starting in June
2017, Schneider Electric and EnSync Energy Systems will
jointly explore market opportunities and technology advancements
required to best serve markets utilizing distributed energy
resources.
"The grid landscape is changing rapidly and DER
deployments are challenging incumbent grid operating models," said
EnSync Energy executive vice president, Dan
Nordloh. "Both companies feel that we are in the early
stages of transformational grid edge market opportunities. We look
forward to strengthening our relationship with Schneider Electric
to explore these areas of collaboration."
The growth in distributed solar generation enables
decentralization of the grid and bi-directional power flows from
all DERs. This provides an opportunity to integrate DER control and
use it to the benefit of the overall electrical network.
Nordloh continued, "We are transitioning from simple
distributed generation into an era of integrated distributed energy
resources, where renewables, storage, energy management systems and
IoE control capabilities replace solar-only installations. These
distributed energy resources are an efficient and economical way to
solve the shortcomings of the antiquated grid network and benefit
the asset owner, enabling them to participate in the capacity and
energy markets, as well as provide ancillary services. Distributed
energy resources are effectively virtual power plants for the grid
network. We are excited to be exploring this market with a globally
recognized leader in power systems."
Navigant Research forecasts the annual market
for solar plus energy storage DERs to grow to nearly $50 billion by 2026, with a 2017 to 2026 compound
annual growth rate (CAGR) of more than 40 percent.
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 in Hawaii.
For more information, visit www.ensync.com.
About Schneider Electric
Schneider Electric is the global specialist in energy management
and automation. With revenues of $26
billion US dollars (25 billion
euros) in FY2016, our 144,000+ employees serve customers in
over 100 countries, helping them to manage their energy and process
in ways that are safe, reliable, efficient and sustainable. From
the simplest of switches to complex operational systems, our
technology, software and services improve the way our customers
manage and automate their operations. Our connected technologies
reshape industries, transform cities and enrich lives. At Schneider
Electric, we call this Life Is On.
www.schneider-electric.us
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.
Media Relations Contact:
Antenna
Shreema Mehta
ensync@antennagroup.com
(646) 416-9853
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe
Dorame
(602) 889-9700
EnSync Energy Company Contact:
Michelle Montague
mmontague@ensync.com
(262) 735-5676
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SOURCE EnSync Energy Systems