HONOLULU, Sept. 25, 2018 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), dba EnSync Energy Systems, the leading
provider of innovative distributed energy resources (DERs) and
business models for residential, commercial and utility
installations, today announced a 20-year power purchase agreement
with Hawai'i Pacific University to
build a 211-kilowatt (kW) photovoltaic (PV) system on four
buildings at its affiliate not-for-profit, the Oceanic Institute,
on Oahu, Hawaii.
Nestled next to the iconic Sea Life Park Hawaii aquarium on the
far eastern point of the island, the Oceanic Institute works as an
applied aquaculture research facility to support the development of
more efficient and productive farming in controlled underwater
habitats. The Oceanic Institute works to improve the systems
managing what the World Wildlife Fund describes as the fastest
growing food production system in the world.
"Working with Hawai'i Pacific
University and the Oceanic Institute of HPU enables us to
champion both responsible coastal resource management and now
sustainable, local energy. Just as its technology leadership has
had ripple effects on the aquaculture industry, we hope the Oceanic
Institute's interest in solar energy technology will spread as
well," said Brad Hansen, CEO of
EnSync Energy.
The Oceanic Institute, like other aquaculture facilities, has a
large energy load to meet its mission-critical energy needs, which
include constant water pumping. To find and deliver the
lowest-cost, most reliable electricity from multiple sources,
EnSync Energy performed detailed modeling of the site, the load
consumption data, available energy assets and technical design
options to optimize the final design and validate financial return
on the photovoltaic system's production numbers.
The 211-kW roof-mounted PV installation will support the Oceanic
Institute's large load by generating local and clean energy to be
used on-site. The solar project will reduce the facility's energy
costs, which in Hawaii are the
highest in the nation, by lowering the aquaculture research
facility's total grid-supplied energy use, reducing expensive peak
demand charges and adding resiliency.
"Our partnership with EnSync Energy furthers HPU's commitment to
innovative energy solutions and sustainable business practices,"
said Bruce Edwards, Senior Vice
President and Chief Financial Officer of HPU. "We're proud
initiatives like this and our PV installation at Aloha Tower
Marketplace are helping Hawai'i meet its clean energy goal."
HPU and EnSync Energy's 660-kilowatt PV system on the rooftop of
the historic Aloha Tower Marketplace is the largest solar
development in downtown Honolulu.
The first phase of that project is operational and supplying energy
to the mixed-use university space, while the second phase is under
construction.
EnSync Energy's tailored project development and financing
support enables investors and local energy consumers to commit to
clean energy cost savings while furthering Hawaii's state goal to achieve 100 percent
renewable energy by 2045. EnSync Energy has contracted 27
commercial projects in Hawaii,
which will account for more than $42.8
million in electricity sales over the terms of the
agreements.
About EnSync Energy Systems
EnSync, Inc. (NYSE American: 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 LLC in Hawaii. For more information, visit
www.ensync.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 EnSync Home
Energy System, MatrixTM Energy Management, DER FlexTM, DER
SuperModule, and AgileTM 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.
About Hawai'i Pacific
University
Founded in 1965, Hawai'i Pacific University has grown to become the state's
leading private, non-profit university, with a student population
of nearly 5,000 undergraduate and graduate students from all 50
states and nearly 65 countries around the world. It has campuses in
downtown Honolulu, Kāne'ohe,
and Makapu'u, and on military bases around O'ahu. The
Chronicle of Higher Education, The Wall Street Journal and
USA Today have named it among the
most diverse private universities in the
nation. www.HPU.edu
EnSync Energy Media Contact:
Lisa Nash
Antenna Group for EnSync Energy
ensync@antennagroup.com
646-883-4296
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.