The Kauai, Hawaii, community will be the second deployment of the EnSync True Peer-to-Peer energy exchange
Milwaukee, WI /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.
SOURCE: EnSync, Inc.Copyright 2018 PR Newswire. All Rights Reserved