MILWAUKEE, May 10, 2018 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), dba EnSync Energy Systems, the leading
developer of innovative distributed energy resources (DERs) and
business models for commercial and industrial (C&I) buildings
and microgrid installations, today launched the company's leapfrog
EnSync Home Energy System for property developers and residential
customers looking for a completely integrated system with solar,
energy storage, power electronics and an Internet of Energy control
platform that delivers state-of-the-art functionality and
modularity, with industry benchmark economics, safety and system
efficiency.
EnSync Energy has built a reputation for deploying high-value
DERs in the C&I building market segment, with modular and
bankable solar plus energy storage solutions that have been
deployed in commercial installations and sold to a multitude of
buyers and investors. EnSync now brings the same innovation and
expertise that enabled its leadership in the C&I market to
solve the significant market challenges and product shortcomings
for residential properties, delivering breakthroughs in
performance, functionality, economic benefit and future-enabling
capabilities.
"The current state of solar plus energy storage systems for the
home is in the dark ages," said Brad
Hansen, president and CEO of EnSync Energy Systems. "Most
are significantly underpowered and cannot support the entire home
if the grid electricity is out, or they have issues disconnecting
and reconnecting to the grid during an outage. If the home is
off-grid, many cannot reliably perform if high inrush currents are
created by the start-up of appliances like refrigerators or air
conditioners. Safety is also questionable because many systems use
lithium-ion batteries that are repackaged EV car batteries. Some of
these battery chemistries raise thermal stability concerns when
utilized in a home energy storage application. Systems on the
market today are typically characterized by a mix and match of
components that may or may not integrate well together and lack the
modularity required to customize the optimum system for each
individual home. The EnSync Home Energy System addresses these
weaknesses and includes a residential-scale version of our modular
MatrixTM Energy Management system, safe and thermally
resilient lithium-ion batteries and our DER FlexTM
Internet of Energy solution — all of which were designed to
optimally work together from the beginning.
"Additionally, we're bringing a phenomenal differentiator to the
market with our True Peer-to-PeerTM energy exchange
technology. True Peer-to-Peer enables individual residential units
in a property to be linked into a network behind the utility meter
to provide highly efficient, direct energy exchange between units.
This is a major advantage for property developers, property
managers and homeowners' associations, providing the benefit of
highly efficient and economical transfer of excess energy from any
given residence on the DC-LinkTM to any other residence
in the network with excess demand. With True Peer-to-Peer, the
entire property experiences a dramatic increase in the efficiency
of the deployed renewable generation across the community. The
payoff is a reduced consumption of grid electricity and
significantly improved solar energy economics for everyone in the
network."
The sharing of electricity between interconnected residences on
a True Peer-to-Peer energy exchange network prioritizes the use of
solar generated or stored electricity ahead of that from the
utility grid for any residence in the network. The network can also
be configured as "non-export," meaning no excess generation for any
unit goes back to the utility grid. This capability is becoming
more critical as several states and jurisdictions prohibit or
economically penalize energy export. Additionally, many utilities
are in the early stages of implementing time-of-day electricity
rates and are already levying increasing demand charges on
customers. The evolving rate structures and impact of resident
vacancy rates, vacation schedules and time-of-day load profiles
frequently make deploying solar generation uneconomical for large
portions of a property development. Virtual net-metering and
virtual peer-to-peer programs are fraught with excessive complexity
and administrative overhead. True Peer-to-Peer changes the game by
incorporating each residence in the network onto a simple DC-Link,
where the excess generation or generation deficit impacts of any
given unit can be aggregated across a larger population of units in
the network.
"The future of the electricity market will be individual homes
and building owners operating in a 'spot market' for the buying and
selling of electricity across a network. At EnSync, we have enabled
this future to exist today with our innovative products and
services," said Hansen. "Our mission for the company is simple: the
democratization of energy through innovative and economic energy
systems. Homeowners and property owners that install our products
today do so with the confidence that as the market for energy
continues to be radically changed, they are not only prepared for
it, but can capitalize on it and profit from it."
EnSync will initially target the multi-residential property
market for its solution, then broaden its market presence. At the
time of announcement, the company has already built a sizable order
backlog for the EnSync Home Energy System, including the
approximately 150-unit Keahumoa Place property in Oahu, Hawaii, announced on May 9, which will utilize True Peer-to-Peer
energy exchange. The EnSync Home Energy System includes
high-efficiency "LFP" lithium-ion batteries, a Matrix Energy
Management system with 9-kilowatt alternating current (AC) output
capacity, modular energy storage capacity of 9-kilowatt hour
increments, modular direct current (DC)-DC converters for
photovoltaic and energy storage and the DER Flex Internet of Energy
control platform, which enables a home to access the same DER Flex
cloud-based computing platform utilized by EnSync for connectivity
between the asset owner, grid network and real-time market data for
its C&I customers.
The EnSync Home Energy System has completed certification
according to all relevant UL, California and Hawaii state requirements and
specifications.
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, and DCfusion LLC, a power
system engineering and design, consultancy and policy firm. 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 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.
EnSync Energy Media Contact:
Shreema Mehta
Antenna Group
ensync@antennagroup.com
(646) 957-3608
Michelle Montague
mmontague@ensync.com
(262) 735-5676
Investor Relations Contact:
Lytham Partners,
LLC
Robert Blum, Joseph Diaz, or Joe Dorame
(602) 889-9700
View original content with
multimedia:http://www.prnewswire.com/news-releases/residential-solar-plus-storage-market-disrupted-by-the-revolutionary-ensync-home-energy-system-300646078.html
SOURCE EnSync, Inc.