HONOLULU, Nov. 30, 2017 /PRNewswire/ -- Holu Energy
LLC, a full-service solar energy company serving Hawaii and the Pacific region, launched a
250-kilowatt photovoltaic system for Kahumana, a nonprofit farm and
community organization that services homeless families, people with
disabilities and youth in the Oahu
region. Through a 20-year power purchase agreement (PPA), the
savings will allow Kahumana to provide 40 additional beds in
transitional housing for the homeless.
"Sustainability is at the heart of our mission at Kahumana; our
goal is to build community by connecting our residents and
participants to the land," said Tom
McDonald, executive director of the organization, which
houses an organic farm and offers vocational training and
transitional housing for vulnerable populations. "This power
purchase agreement furthers our mission by allowing us to run on
clean energy and redirect funds to expand our offerings and
services."
The installation could not have been completed without the
Hawaii Electric Company's (HECO's) work to upgrade area
infrastructure to accommodate the growing number of distributed
energy resources (DERs) and connect them to the utility's grid.
"HECO is to be commended for its leadership," said Ted Peck, CEO of Holu. "Kahumana is one of many
organizations and businesses that will enjoy the benefits of
switching to clean energy. HECO's upgrades to their circuit enabled
many in this area to add behind-the-meter photovoltaic renewables
connected to the HECO grid. Kahumana is an example of the custom
solutions that we develop for our customers in Hawaii, and we're happy to help them deliver
on their essential mission of taking care of the needy families in
our community."
The system was installed by Kamaaina Solar Systems and is owned
by local area developer Norman
Gentry.
"We're honored to bring this win-win solution to Kahumana,"
Gentry said. "Our partners Holu and EnSync Energy are leaders in
delivering diverse, customized energy projects to Hawaii. The result is significant savings in
energy costs for an organization dedicated to helping the people of
the island."
The Kahumana solar project builds on EnSync Energy's momentum in
Hawaii as a leading DER provider.
Earlier this year, EnSync Energy announced that it has contracted
20 commercial projects in the state, which will account for more
than $20 million in electricity sales
over the terms of the agreements.
Kahumana is hosting a blessing ceremony today at 10:30 a.m. Hawaiian-Aleutian Time to mark the
launch of its new solar energy system, which consists of a mix of
photovoltaic rooftop panels and canopy systems.
About Holu Energy
Holu Energy LLC is a Honolulu-based energy systems project
development company that provides Hawaii and the Pacific Islands with reliable
and sustainable energy solutions. Established in 2015, Holu
services feature integrated, cost-effective and resilient energy
options for commercial, industrial, utility and nonprofit entities.
Holu is a partner of EnSync Energy Systems (NYSE MKT: ESNC), an
advanced energy management systems company.
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 Kahumana
Founded in 1974, Kahumana is a community of five campuses over 50
acres in Oahu, whose mission is to
co-create a healthy, inclusive and productive farm-based community
with homeless families, people with disabilities and youth.
Kahumana aspires to celebrate the bounty of Hawaii's natural and cultural
environment while also helping to address some of
her most pressing needs.
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 Matrix TM
Energy Management, DER Flex TM, DER Supermodule TM, 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) 416-9853
EnSync Energy Media 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.