MILWAUKEE, Feb. 7, 2018 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, a leading developer of innovative distributed energy resources (DERs), announces its entry into the rapidly growing African microgrid market through the sale of a project that will deliver electricity to an East African village. With no utility or supporting infrastructure in the area, this microgrid will independently provide energy for a community that currently has no electricity.
The planned microgrid consists of a 180-kW photovoltaic (PV) system, a 112-kWh energy storage system, power electronics to integrate and optimize energy sources to meet demand and energy management software. The non-PV components of the system are all housed in an EnSync Energy DER SuperModule™, a fully integrated and self-contained DER system. The project was sold to a buyer who will sell electricity to village residents via the microgrid, essentially serving as the area micro-utility.
EnSync Energy's modular technologies and analytic capabilities meet the complexities of the burgeoning microgrid market in African countries, where energy demand is growing rapidly, but traditional electricity infrastructure is often lacking. The continent as a whole is projected to contain 35,000 microgrids by 2021 that will serve as key electricity providers to millions of people who currently lack access.
"The DER SuperModule enables rapid commissioning of an advanced microgrid, significantly reducing project construction schedule and cost," said Dan Nordloh, executive vice president of EnSync Energy. "The system offers simplicity, while also mitigating the risks associated with integrating multiple distributed energy resources. Our customer was looking for a way to serve as the utility, selling affordable and reliable electricity to remote villages on a mobile phone-based payment platform," Nordloh said. "We are proud that our integrated system was chosen to meet these high demands."
EnSync Energy's project engineers modeled the village's initial expected energy load to appropriately size the microgrid's solar and storage components. The resulting micro-utility configuration will remain flexible through the SuperModule's supporting technologies – the Matrix™ Energy Management System and DER Flex™ software – EnSync's Internet of Energy platform that connects all power resources and optimizes performance based on variables such as demand and weather conditions.
"Our ability to deliver micro-utility systems to Africa and other electricity-challenged regions demonstrates our transformational leadership in the utility market, which is shifting towards distributed energy resource-based generation and distribution," said Brad Hansen, chief executive officer of EnSync Energy. "With our integrated DER SuperModule systems and project design and execution expertise, we look forward to further expansion in additional markets in the years to come."
The new system in East Africa, to be commissioned this spring, will initially use less than the entire capacity of the DER SuperModule, allowing for more load from other local customers and nearby villages to be added as the customer base expands.
About EnSync Energy Systems
EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems (EnSync Energy), 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, and DCfusion LLC, a power system engineering and design, consultancy and policy firm. 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 Matrix TM Energy Management, DER Flex TM, DER SuperModule TM, 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.
Media Relations Contact:
EnSync Energy Media Contact:
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame
SOURCE EnSync, Inc.