LAIE, Hawaii, Jan. 16, 2018 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), dba EnSync Energy Systems ("EnSync Energy"),
a leading developer of innovative distributed energy resources
(DERs), announced today that it signed a 20-year power purchase
agreement (PPA) with the Polynesian Cultural Center (PCC) for a
396-kilowatt photovoltaic and inverter system.The PPA will reduce
the facility's kilowatt-hour rate, bringing an estimated savings of
$43,000 in the first year alone to
the Oahu tourism property in
Laie, Hawaii.
The PCC, a nonprofit 501(c)(3) organization, was established to
preserve and portray the cultures, arts and crafts of Polynesia,
while providing employment opportunities for the thousands of
students attending the adjacent Brigham Young University – Hawaii.
The island villages, commercial kitchen, dining areas and theaters
generate significant energy demand on the grid, and tie into even
larger energy loads as part of a network of organizations sharing a
campus. To meet this high energy demand, EnSync Energy will install
solar arrays on three different building roofs on the PCC
grounds.
"We are delighted to be associated with the world-renowned
Polynesian Culture Center, an impact-conscious organization well
known for educating nearly 700,000 visitors per year on the
cultures of the Polynesian nations," said Brad Hansen, CEO and president of EnSync Energy
Systems. "This solar project is just one example of the customized
advanced energy systems we develop for our customers. EnSync
Energy's strategy for this project is to upgrade the existing
infrastructure and deliver the highest value of energy today with a
strong foundation for future electrical options. We are excited to
be partnering with PCC on their energy needs through this
installation and by the prospect of exploring opportunities for
future projects together."
The onsite solar project enables PCC to generate energy to meet
the organization's needs. PCC's solar project positions the
nonprofit as a leader, bringing localized energy infrastructure
services that will support the area's energy resiliency and
connected infrastructure.
Following EnSync Energy's recent announcement of signing PPAs
that will save more than $33 million
in electricity over the term of the agreements, the PCC solar
project builds on EnSync Energy's momentum in Hawaii as a leading DER provider.
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 Polynesian Cultural Center
Located on Oahu's beautiful
North Shore, the Polynesian Cultural Center (PCC) is the only
cultural tourist attraction of its kind in the world and a favorite
of all visitors to Hawaii. An
engaging, interactive celebration showcasing the people, culture,
arts and crafts of Polynesia, the PCC has entertained millions of
visitors from around the world since opening in 1963. A non-profit
organization, 100 percent of PCC's revenue goes to daily operations
and to support the education of its student-employees from
neighboring Brigham Young
University-Hawaii. For more information, visit
www.Polynesia.com.
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