MILWAUKEE, June 12, 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
120-unit apartment complex in Oahu,
Hawaii. Previously, EnSync Energy announced the sale of a
PPA for a 116-unit apartment complex in Oahu, as part of a multi-development program
providing residents of the island with stable electricity for the
next two decades.
"We believe we are making strong progress on the Island of
Oahu. This installation of a
300-kilowatt system, backed by EnSync Energy's innovative DER
systems and platform, provides residents of this complex with
stable electricity pricing for 20 years," said Brad Hansen, CEO and President of EnSync Energy
Systems. "We believe this subsequent sale of the PPA agreement
continues to demonstrate our overall business model, as we look to
rapidly increase adoption of our technologies to the residential,
commercial and utility markets."
The 300-kilowatt EnSync Energy system will provide electricity
to the complex at a contracted price for the 20-year term of the
power purchase agreement. Revenue will be recognized in the coming
quarters based upon completion of project milestones.
EnSync Energy continues to successfully develop, engineer and
commission projects in the Hawaii
market, and is a pioneer in the Hawaiian market for
solar-plus-storage DERs, with projects operating on a number of
islands comprising the state of Hawaii.
Through its innovative DER Flex™ IOE platform, EnSync Energy's
DER installations are available to participate in a myriad of
utility and ISO grid services, including applications such as
supply response on demand.
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
(602) 889-9700
EnSync Energy Media Contact:
Michelle
Montague
mmontague@ensync.com
(262) 735-5676
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SOURCE EnSync Energy Systems