HONOLULU, Nov. 12, 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, today announced the sale of a
20-year power purchase agreement (PPA) with Hawai'i Pacific University (HPU) to build a solar energy
system for its affiliate not-for-profit, the Oceanic Institute, in
Oahu.
The agreement will finance a 211-kilowatt (kW) photovoltaic (PV)
system on four buildings. With construction underway, the company
expects operations to begin early next year.
The Oceanic Institute is an applied aquaculture research
facility that supports the development of more efficient and
productive farming methods in controlled underwater habitats. The
Institute was in search of low-cost, reliable electricity to meet
its mission-critical energy needs for functions such as constant
water pumping.
HPU and EnSync Energy's other collaboration — a 660-kW 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 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 274 of the Securities Act of 1933, as
amended, and Section 2lE 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 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 operational 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 discussed 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 l0-K and our subsequently
filed Quarterly Report(s) on Form l0-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
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.
