MILWAUKEE, Sept. 28, 2017 /PRNewswire/ -- EnSync, Inc. (NYSE
American: ESNC), dba EnSync Energy Systems ("EnSync Energy"), a
leading developer of innovative distributed energy resources
(DERs), today announced its entry into the California marketplace by signing a 20-year
power purchase agreement (PPA) with the State of California. The project, on which
EnSync Energy has partnered with Solar Energy Fields, will be a
500-kilowatt solar installation at the California Department of
Forestry and Fire Protection (CAL FIRE) training facility in
Ione, California.
Under the multi-party agreement, EnSync Energy will build a
solar canopy over the parking lot of the academy's new dormitory.
The academy is used to train team leaders for California firefighting groups. The canopy
will keep parked cars cool and reduce the heat island effect, while
generating clean energy for the facility. This solar project is the
result of Governor Brown's 2012 executive order (B-18-12) mandating
green building standards, as well as advancements in energy
technologies that continue to make renewable power more accessible.
In California and other states
with rigorous environmental standards, both policy and technology
have facilitated the increased use of distributed energy, which is
often renewable and potentially lowers costs.
"This is an important milestone for EnSync Energy as we expand
the success of our DER model into the State of California. We are delighted to work
with CAL FIRE on our first large project in the state and support
CAL FIRE's mission to protect the public safety of Californians,"
said Brad Hansen, chief executive
officer and president of EnSync Energy. "We appreciate the
opportunity to begin bringing innovative and reliable renewable
energy solutions to California,
where the vast majority of storage and solar deployed has been in
independent, siloed systems with no interaction and very limited
grid network connectivity. EnSync Energy has taken the clear
leadership position in the DER market for commercial customers and
microgrids in other states like Hawaii precisely because we bring the entire
solution. We look to California to
be a major contributor to company growth, and this project marks
the start of an exciting opportunity pipeline there that will help
the state effectively achieve its clean energy goals."
The new CAL FIRE project demonstrates EnSync Energy's successful
expansion into the California
market, which started with the opening of its North America sales office in Petaluma, California, one year ago. Offering
the entire DER solution with PPA financing puts EnSync Energy in a
unique competitive position in California. The CAL FIRE project is one of
many opportunities that has been identified and added to EnSync
Energy's growing project pipeline in California.
EnSync Energy is partnering on the CAL FIRE construction with
Solar Energy Fields through the company's contract with the
California Department of General Services to develop a renewable
energy project at the Ione
facility. "Solar Energy Fields is proud to be part of California's green building strategy and
transition to clean energy," said Ned
Araujo, chief executive officer and president of Solar
Energy Fields. "Working with EnSync Energy, we will build a solar
power system that will bring both environmental and cost benefits
to the state."
To develop a high-value PPA, EnSync Energy evaluated the
anticipated energy needs on the academy campus and found that a
photovoltaic installation consolidated onto a canopy – rather than
decentralized installations on individual building roofs – would
both reduce installation costs and maximize solar energy
output.
The academy's new dorm construction comes as the number of
wildfires handled by the state agency rose by more than 20 percent
in the first half of 2017 compared to 2016. Project construction is
estimated for completion in the spring of 2018.
About EnSync Energy Systems
EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems
(EnSync Energy), 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
About Solar Energy Fields
Solar Energy Fields, Inc., (SEF) is one of seven (7) Solar
Developers qualified under the California State PV Program to
design, build, own, and operate solar-electric generating
facilities on State-owned land and buildings. With its Team,
including EnSync Energy, SEF is pursuing multiple contracts under
the State's PV Program. SEF, a service disabled veteran owned
California Small Business certified by both the State of California and the Federal
Government, specializes in solar and wind power generation design
and construction services as well as comprehensive Construction
Program Management, and Construction Management support services.
With broad-based experience in site development engineering, site
development construction, construction management, and
environmental remediation, SEF brings a broad range of services to
its Clients in both the Public and Private Sectors. SEF's two
Principals have more than 55 years of combined construction
industry experience. As a result, SEF is able to provide
project-specific management support programs structured to meet a
project's goals, objectives, and requirements. SEF blends its
technical and program management expertise with the expertise of
its service providers to create a comprehensive, balanced, and
efficient management program that controls risk and supports
successful project completion.
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: project completion timelines,
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
EnSync Energy Company Contact:
Michelle Montague
mmontague@ensync.com
(262) 735-5676
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame
(602) 889-9700
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SOURCE EnSync, Inc.