MAUI, Hawaii, Dec. 14, 2017 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), dba EnSync Energy Systems, a leading
developer of innovative distributed energy resources (DERs), signed
a 20-year power purchase agreement (PPA) with J. Walter Cameron
Center (JWCC), a nonprofit incubator space for service agencies in
the Maui community. The PPA will
bring JWCC nearly half a million dollars in savings during the
terms of the agreement.
The solar plus storage project encompasses a 148-kW photovoltaic
(PV) installation and EnSync Energy's DER SuperModule™—244 kWh of
energy storage supported by EnSync Energy's Matrix™ Energy
Management System and DER Flex™ technologies. The solar energy
system incorporates two subsystems: a 62-kW alternating current,
PV-only system to directly serve the buildings' loads and an 86-kW
direct current system connected to the SuperModule to store energy
for off-peak solar hours and for demand charge mitigation. The
batteries will be charged using 100 percent solar energy.
"This project has been tailored to both our functional site
needs and our mission of improving the Maui community," said Cesar Gaxiola, executive director of J. Walter
Cameron Center. "As we continue to expand our presence, this
sustainable energy infrastructure model can be scaled up with a
backup supply and a sophisticated financial package that brings
significant cost savings for no money down."
JWCC provides over 43,000 square feet of office space across six
individual buildings to 16 resident agencies, including The
American Cancer Society – Hawaii
Pacific, The American Red Cross and The Maui Chamber of Commerce. The center also
provides program space and support resources to over 250 community
groups that together serve 30,000 Maui residents.
Beyond cost reductions from the lower PPA rate, JWCC will
benefit from demand charge mitigation services, which will decrease
the center's utility bills by relying on energy storage to manage
high demand charges. While the project will not export electricity
to the grid, the system infrastructure has the ability to export,
providing the center an opportunity to participate in potential
grid services offered by the utility in the future.
The center consulted with EnSync Energy's project engineers to
size the system to meet the center's operational needs. The
project's SuperModule houses EnSync Energy's smart energy
software-hardware solutions—the DER Flex software and the Matrix
Energy Management hardware—and four 61 kWh lithium ion batteries.
With EnSync Energy's scalable technology, the energy capacity of
the SuperModule can easily be expanded as JWCC's energy
requirements grow.
EnSync Energy's CEO Brad Hansen
said, "Our customized, modular approach to distributed energy
resource system design enables an optimized solution for any
individual site. This project's focus on adaptability,
affordability and interconnectivity also reflects the center's core
goals of scalable growth and community support."
DER Flex and Matrix technologies respond to situational
parameters and will be used by the JWCC for time-of-use shifting
and demand charge mitigation. DER Flex assesses numerous external
variables, such as weather forecasting, served load requirements
and market price signals, to model when energy will be most
expensive. This real-time analysis enables the system to
automatically prioritize and synchronize the physical sourcing and
delivery of electrons to create the best return.
Construction will commence in the coming months.
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 J. Walter Cameron Center
The J. Walter
Cameron Center is a 501c nonprofit organization that provides over
43,000 square feet of office space across six individual buildings
to 16 resident agencies that offer health and human services to
over 30,000 Maui community clients
annually. In addition, more than 250 community groups, ethnic
clubs, government agencies, nonprofit organizations and private
businesses use the center's meeting rooms throughout the year,
attracting over 30,000 attendees. For more information please visit
www.jwcameroncenter.org.
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 Energy Systems