MILWAUKEE, May 4, 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 solar-plus-storage power purchase agreement (PPA) project to a leading U.S. infrastructure investor.
The system will be comprised of a suite of EnSync Energy's DER technologies, including two EnSync SuperModule™ systems with Matrix™ Energy Management and EnSync lithium-ion batteries, as well as the DER Flex™ internet of energy (IOE) control platform. The project also includes approximately 400kW of carport-mounted photovoltaics, and will provide electricity to dedicated loads at the Oceanic Time Warner head-end operations center in Kailua-Kona, HI.
"We have a great business model and proven installations demonstrating that solar-plus-storage PPAs are a very effective way to achieve lower electricity prices, sustainable power generation, resiliency and a good return on investment," said Brad Hansen, CEO and President of EnSync Energy Systems. "We're delighted to have another significant success in Hawaii. Our long term commitment and leadership in the state continues to yield great results for the Company."
The EnSync Supermodule™ is a Distributed Energy Resource "in-a-box", with all critical modules in place that enable integration and control of the renewable energy generation, energy storage and grid, such that the most economic electricity available can be used by the load at any given time. Additionally, the DER Flex™ IOE enables complete integration to the grid network, allowing future participation in utility and ISO grid services, including applications such as supply response on demand.
The EnSync Distributed Energy Resource (DER) system will serve Oceanic Time Warner's head-end facility on the Island of Hawaii, which is the critical operating facility that receives television signals for processing and distribution over the island's cable television system.
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
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
EnSync Energy Media Contact:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ensync-energy-sells-power-purchase-agreement-project-to-leading-us-infrastructure-investor-300451268.html
SOURCE EnSync, Inc.