HONOLULU, Dec. 12, 2017 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), a leading developer of innovative
distributed energy resources (DERs), today announced that its
Hawaiian-based subsidiary, Holu Energy LLC, signed a 20-year power
purchase agreement (PPA) for a photovoltaic system for Nuuanu
Terrace, an apartment building in Honolulu containing three dozen units.
"Much like the rest of the state, we see the benefits of
shifting more of our energy consumption to renewables," said
Delaine Sylvester, president of the
Board of Nuuanu Terrace. "Installing solar and other renewable
energy infrastructure can sometimes be prohibitively expensive, but
this affordable PPA enables us to go green, which pleases both
current and potential residents," she added.
Along with the photovoltaic system, Holu and Nuuanu Terrace plan
to finalize by the end of 2017 a PPA to install a 24-panel solar
water heater. The heater will replace the previous gas-powered
electric heat pump system. Water heating is highly energy
intensive, making up the second largest use of electricity in the
residential sector. Solar water heating provides a
cost-competitive, clean energy alternative.
"Our partnership with Nuuanu showcases the variety of tailored
clean energy technologies that Holu Energy can integrate and deploy
both in residential and commercial contexts," said Ted Peck, CEO of Holu. "It's the latest example
of the custom solutions that we deliver to our customers in
Hawaii."
The Nuuanu solar project builds on Holu and EnSync Energy's
momentum in Hawaii as a leading
distributed energy resources provider. EnSync Energy has announced
22 contracted commercial projects in the state, which will account
for more than $20 million in
electricity sales over the terms of the agreements.
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
American: 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 Nuuanu Terrace
Nuuanu Terrace is a 36-unit
condominium in Honolulu.
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
SOURCE EnSync, Inc.