MILWAUKEE, Dec. 18, 2018 /PRNewswire/ -- EnSync, Inc.
(NYSE American: ESNC), dba EnSync Energy Systems, which is creating
the future of electricity with innovative residential and
commercial distributed energy resource (DER) systems and Internet
of Energy (IOE) control platforms, announces today the signing of a
power purchase agreement (PPA) with Koa'e Workforce Housing, L.P.
to include EnSync Smart Home Energy Systems ("EnSync Smart Home")
in a new 134-unit housing development. The systems will utilize
peer-to-peer energy exchange and smart water heaters to optimize
energy efficiency and utilization of solar across the
community.
The Koa'e housing development will include 516 kilowatts of
rooftop solar, 603 kilowatt-hours of energy storage and EnSync
Smart Home's energy communications, command and control platform
across the property's 23 buildings. Each residential unit will have
photovoltaics (PV), an EnSync Smart Home system and connection to a
DC-Link™ that networks the home with all of the
other residences in the property. The system will integrate energy
supply from the PV power generation and energy storage with water
heater load management to maximize energy independence of each home
and throughout the overall networked community.
"The Koa'e community is the first announced deployment of our
load control capability and the second for our True
Peer-to-PeerTM energy exchange," said Brad Hansen, CEO of EnSync Energy. "Both
capabilities are key differentiators for our product in the
high-growth residential energy systems market. We are expanding
into the residential energy storage systems market at the perfect
time. There is a tremendous amount of excitement for our product,
as validated by an order backlog of approximately $11 million only six months after entering the
market. We look forward to being one of the leaders in this
accelerating market segment and providing a degree of energy
independence to our customers that is unparalleled," Hansen added.
This is EnSync Energy's second multi-family residential property
to use the EnSync Smart Home system as its technology foundation,
following a 320-unit project announced in the summer of 2018. For
additional efficiency, the EnSync Smart Home and DC-Link systems
connecting each unit enable peer-to-peer energy exchange. When the
unit-level PV system generates more solar energy than the storage
or home can utilize, the excess is exported to any unit on the
property where demand exceeds supply.
This peer-to-peer energy exchange capability helps manage the
impact of vacancy rates, time of day absences and unit level
micro-loading effects in multi-unit properties or communities,
facilitating energy efficiency across the network as a whole. For
building owners who pay utilities on behalf of tenants and charge
tenants a flat rate, the EnSync Smart Home system offers a direct
incentive to realize potential savings.
The new Koa'e housing development will be located on the island
of Kauai and is EnSync Energy's
first project on the island. Kauai, like the rest of the state of
Hawaii, is working through a
severe housing shortage, and the Koa'e housing project is an
element of the response aimed at addressing that challenge. EnSync
Energy is collaborating with its local subsidiary and developer
Holu Energy to engineer and design the project and Mark
Development, Inc. to construct and install the system.
"The Koa'e project demonstrates how advanced technology can be
used to improve the economics for tenants of affordable housing,"
said Craig Watase, president of Mark
Development, Inc. "We are pleased to include the EnSync Smart Home
in our project and bring the benefits of solar directly to
affordable communities."
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 Smart 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:
Lisa Nash
Antenna Group
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
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ensync-energy-to-install-residential-energy-systems-at-134-unit-koae-workforce-housing-development-300767879.html
SOURCE EnSync, Inc.