HONOLULU, Aug. 2, 2018 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, the leading provider of innovative distributed energy resources (DERs) and business models for residential, commercial and utility installations, and its subsidiary Holu Energy, a developer of DER projects in Hawaii, today announced a 20-year power purchase agreement (PPA) with Kona Brewing Company to build a solar-plus-battery storage system at the beer company's new brewery, under construction in Kailua Kona.
The installation will consist of a 336-kilowatt (kW) roof-mounted photovoltaic (PV) system and an EnSync DER SuperModule™ that contains a 122 kW-hour battery system to capture and store excess solar generation. The project also includes the Matrix™ Energy Management system, which uses DER FlexTM Internet of Energy technology to interact with the main grid to find and deliver the lowest-cost, most reliable electricity from multiple sources. The resulting solar power is projected to meet one-quarter of the brewery's electricity needs and will allow the company to produce a peak output of 6,875 cans of sun-powered beer per hour.
"This installation offers Kona Brewing a fully integrated resource to meet its dual goals of using clean energy and reducing energy costs, which in Hawaii are the highest in the nation," said Ted Peck, president of Holu Energy. "Integrating energy storage with PV will help the brewery reduce expensive peak demand charges, add resiliency and provide grid services, which benefits both the local utility and Kona Brewing."
Energy storage will also enable Kona Brewing to participate in utility Hawaiian Electric's demand response programs, which incentivize energy efficiency and stabilize the grid.
"Since it formed over 20 years ago, Kona Brewing has been committed to making locally brewed beers in an environmentally responsible way," said Julia Person, sustainability manager of Kona Brewing. "By partnering with Holu, we are working with another Hawaiian business to reduce our imported fossil fuel use and create on-site solar energy that helps the state meet its renewable energy goals. This partnership demonstrates how we embrace innovation to maintain our commitment to the 'Aloha spirit' and the larger Hawaiian community."
"We are thrilled to deliver cost-effective clean energy to Kona Brewing, a prominent Hawaiian company with customers around the country," said Brad Hansen, CEO of EnSync Energy. "As Hawaii is a hotspot for deploying innovative solar and storage systems, this project is an exciting milestone in both our and Holu's ongoing mission to lead in the state's robust market."
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 26 commercial projects in Hawaii, which will account for more than $40 million in electricity sales over the terms of the agreements.
Construction of the brewery is underway, with installation of the solar-plus-battery storage system expected to be complete in early 2019.
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 MatrixTMEnergy 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 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.
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:
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame
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SOURCE EnSync, Inc.