MILWAUKEE, March 7, 2018 /PRNewswire/ -- EnSync, Inc. (NYSE
American: ESNC), dba EnSync Energy Systems, a leading developer of
innovative distributed energy resources (DERs), today announced an
expansion of the photovoltaic system it is installing on the
rooftops of the Aloha Tower Marketplace, which is operated by
Hawai'i Pacific University (HPU) under
a lease with the State of Hawai'i Aloha Tower Development
Corporation. The latest expansion more than doubles the capacity of
the photovoltaic (PV) system to 660 kilowatts (kw), making it the
largest solar installation in downtown Honolulu upon completion.
EnSync Energy will add 350 kw in PV capacity to the system under
a 20-year power purchase agreement (PPA) it signed with HPU and an
undisclosed investor. The solar energy will power HPU's revitalized
Aloha Tower Marketplace, a mixed-use space featuring university
student residences, community spaces, restaurants and shops.
"It's fitting that the largest PV installation in downtown
Honolulu is now located at the
landmark Aloha Tower Marketplace," said Dan
Nordloh, executive vice president of EnSync Energy. "EnSync
Energy has an active presence in Hawai'i, so we are particularly
proud to deliver even more clean, reliable and low-cost energy to
an institution that plays a prominent role in the cultural and
economic life of the state."
EnSync Energy designed the system based on customized analysis
of Aloha Tower Marketplace's current energy consumption patterns
and anticipated future energy needs. After conducting energy and
price modelling, EnSync Energy found that a grid-ready PV
installation would yield the most savings for the University.
"We look forward to expanding our solar energy system with
EnSync Energy, which offered us a simple way to further contribute
to the state's renewable energy goals while also reducing our
costs," said Bruce Edwards, chief
financial officer for HPU. "The solar panels on Aloha Tower
Marketplace's rooftops showcase our commitment to clean energy, to
our students and to the greater Honolulu community."
Construction of both phases is expected to be completed by early
2019. HPU may consider a third solar installation phase under the
terms of the PPA.
About EnSync Energy Systems
EnSync, Inc. (NYSE American: 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
About Hawai'i Pacific
University
Hawai'i Pacific University (HPU) is
a private, nonprofit university in O'ahu, with urban and tropical
campuses in downtown Honolulu and
at the foot of the Ko'olau Mountains on the windward side of the
island, respectively. Established in 1965, HPU is home to over
5,000 students from Hawai'i, the mainland, and over 70 countries
around the world. Fusing the University's unmatched cultural
diversity with personal support and a deliberately intimate
learning environment, students get up-close and personal with the
subjects they're most passionate about, enabling them to "look
closer, see further, and do more." HPU has been named "Best in the
West" (Princeton Review, 2016), the most diverse private nonprofit
university in the country (The Chronicle of Higher Education,
2016), and one of the top 8% of private colleges for graduates'
income mobility (The New York Times,
2017). HPU students also enjoy the #1 Return on Investment on the
Islands (Payscale.com, 2017).
Safe Harbor Statement
This press release contains 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," "goal,"
"estimate," "anticipate" or other comparable terms. All
statements other than statements of historical facts included in
this press release regarding our strategies, prospects, financial
condition, operations, costs, plans and objectives are
forward-looking statements. Examples of forward-looking statements
include, among others, statements we make regarding 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 are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our
control. Our actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, the
following: our historical and anticipated future operation losses
and our ability to continue as a going concern; our ability to
raise the necessary capital to fund our operations and the risk of
dilution to shareholders from capital raising transactions; our
ability to successfully commercialize new products, including our
MatrixTM Energy Management, DER FlexTM, DER
SuperModule, and Agile TM Hybrid Storage Systems; our
ability to lower our costs and increase our margins; our product,
customer and geographic concentration, and lack of revenue
diversification; the length and variability of our sales cycle; our
dependence on governmental mandates and the availability of
rebates, tax credits and other economic incentives related to
alternative energy resources and the regulatory treatment of
third-party owned solar energy systems; and the other 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 Report(s) on Form
10-Q. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Media Relations Contact:
Antenna
Shreema Mehta
ensync@antennagroup.com
(646) 957-3608
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
HPU Media Relations Contact:
Bennet Group Strategic
Communications
Megan
Tsuchida
megan@bennetgroup.com
(808) 286-3183
HPU Representative Contact:
Lianne Yamamura
lyamamura@hpu.edu
(808) 544-0299
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SOURCE EnSync, Inc.