MILWAUKEE, Aug. 7, 2018 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), dba EnSync Energy Systems ("EnSync Energy"),
the leading provider of innovative distributed energy resources
(DERs) and business models for residential, commercial and utility
installations, announced today the sale of a project under a
20-year power purchase agreement (PPA) with the California
Department of Forestry and Fire Protection (CAL FIRE) to Standard
Solar, a leading solar energy company specializing in the
development and financing of solar electric systems nationwide. The
project marks EnSync Energy's entry into the California marketplace.
EnSync Energy is building a 600-kilowatt solar installation at
the CAL FIRE training facility in Ione,
California, under the agreement. The installation will
consist of a solar system on the classroom roof and solar canopy
built over the parking lot of the new dormitory in the training
facility. The canopy will keep parked cars cool and reduce the heat
island effect while generating clean energy for the facility, which
achieves Governor Brown's 2012 executive order (B-18-12) mandating
green building practices at State buildings.
"The CAL FIRE solar PPA marks an important milestone for EnSync
Energy as our first large project sale in the state," said
Brad Hansen, the company's chief
executive officer and president. "We are proud to build on our
record of deploying holistic DER and financing solutions in this
key market, while also supporting an agency that fights wildfires
in California."
"As a company dedicated to removing financing barriers for
commercial solar projects, we appreciate the opportunity to provide
the financing to help support CAL FIRE's mission to protect the
public safety of Californians," said Standard Solar president and
CEO Scott Wiater. "Costs often
remain a barrier to adopting solar, and this PPA offers a win-win
solution that facilitates deployment of renewable energy."
Construction of the installation is expected to be completed in
2018.
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.
About Standard Solar
Standard Solar, Inc. is a leading solar energy company
specializing in the development and financing of solar electric
systems nationwide. Dedicated to making Distributed Generation (DG)
solar more accessible to businesses, institutions, governments and
utilities, the company is forging the path for clean, renewable
energy development through turnkey solutions. With more than 100
megawatts installed, financed and maintained, Standard Solar is one
of the most trusted and respected solar companies in the US. Owned
by Énergir, a leading energy provider with more than $5.8 billion US in assets, Standard Solar
operates nationally and is headquartered in Rockville, Md. For more information, please
visit www.standardsolar.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
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:
Lisa Nash
Antenna Group
ensync@antennagroup.com
646-883-4296
Michelle Montague
mmontague@ensync.com
(262) 735-5676
Standard Solar Media Contact:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
leah@wilkinson.associates
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame
(602) 889-9700
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SOURCE EnSync Energy Systems