HONOLULU, Oct. 4, 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 Kona Brewing Company to
an undisclosed investor. The agreement will finance a
solar-plus-energy storage system at the beer company's new brewery
in Kailua Kona, Hawaii.
Construction will be completed early next year.
Projected to meet one-quarter of the brewery's electricity
needs, the installation will consist of a 336-kilowatt (kW)
roof-mounted photovoltaic system and an EnSync DER SuperModule™
that contains a 122 kW-hour battery system to capture and store
excess solar energy generation. The project also includes the
Matrix™ Energy Management system, which uses DER FlexTM
IoE technology to find and deliver the lowest-cost, most reliable
electricity from multiple sources. Kona Brewing expects to produce
a peak output of 6,875 cans of sun-powered beer per hour with the
new system.
EnSync Energy's tailored project development and financing
support enables investors and local energy consumers to commit to
clean energy cost savings while furthering Hawaii's state goal to achieve 100 percent
renewable energy by 2045. 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 Kona Brewing Co.
Kona Brewing Company was started in Kailua-Kona on the Island of Hawaii in the spring of 1994 by father and son
team Cameron Healy and Spoon Khalsa,
who had a dream to create fresh, local island brews made with
spirit, passion and quality. Today, Kona is Hawaii's largest and favorite craft brewery,
known for top-selling flagship beers Longboard Island Lager and Big
Wave Golden Ale and award-winning innovative small-batch beers
available across the Islands. The Hawaii born and Hawaii-based craft brewery prides itself on
brewing the freshest beer of exceptional quality closest to market.
This helps to minimize its carbon footprint by reducing shipping of
raw materials, finished beer and packaging materials.
Kona Brewing Co. has become one of the top craft beer brands in
the world, while remaining steadfastly committed to its home market
through a strong focus on innovation, sustainability and community
outreach. For more information call 808-334-BREW (2739) or visit
www.KonaBrewingCo.com. Talk with us via Twitter and Instagram:
@KonaBrewingCo
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.