MILWAUKEE, Dec. 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 a partnership with WindStax Energy to build a microgrid at a new PITT OHIO trucking terminal in Parma, Ohio.
The microgrid will utilize both solar energy and wind energy generation through a 495-kilowatt (kW) photovoltaic system and eight six-story-tall vertical wind turbines that add 48 kW to the system. These resources will be integrated with EnSync Energy's DER SuperModule,TM which houses 730 kilowatt hours of energy storage, the Matrix EnergyTM Management system and DER FlexTM IOE software platform for system command, communication and control. The system will enable the sustainability-minded trucking company to participate in net metering programs, while also providing backup energy during grid disturbances.
"Our multifaceted microgrid projects benefit from a partner like EnSync Energy, whose all-in-one solution has saved us time and brings consistency to the various components," said WindStax Energy CEO Ronald Gdovic. "Together, we have designed a system that will deliver cost savings and reliable energy to PITT OHIO's trucking operations."
"Our ability to easily integrate and prioritize multiple distributed energy resources is recognized as a distinct advantage in microgrid projects, and our market success in Hawaii is now creating opportunities on the mainland," said EnSync Energy Executive Vice President Dan Nordloh. "We look forward to helping PITT OHIO and WindStax accomplish their objectives of clean, affordable and resilient energy projects for this and other facilities throughout the Midwest."
"Our latest trucking terminal reflects our goal to be sustainability pioneers in the freight transportation industry," said Justine Russo, Director of Sustainability and Business Intelligence at PITT OHIO. "PITT OHIO is excited to partner with innovators like WindStax and EnSync to enable our implementation of renewable energy. The renewable energy microgrid in Parma is a critical part of PITT OHIO's Triple Bottom Line sustainability strategy around People Planet and Purpose."
Construction has commenced and is expected to finish in the spring of 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.
WindStax Energy is a full-service developer of integrated alternative energy solutions. WindStax® makes the largest vertical wind turbines in the United States. Our award winning turbines are a distinctive feature of our hybrid wind and solar microgrids that are changing industry's perspective of energy as a commodity to energy as an opportunity. We create prosumers - energy consumers who generate and consume renewable energy with the option to use utility power as a backup and send excess energy to the grid. WindStax patented technology eliminates most of the constraints of traditional windmills. They are silent, avian and neighbor-friendly, and offer an attractive ROI as a stand-alone system or as a supplement to solar energy. Made in the US. For more information, visit http://windstax.com
About PITT OHIO
In adhering to their "We're Always There For You" signature commitment, PITT OHIO is dedicated to providing their customers with the best value in its SUPPLY CHAIN, GROUND, Less-Than-Truckload (LTL) and TRUCKLOAD services. Headquartered in Pittsburgh, PA, PITT OHIO services the entire Mid-Atlantic and Mid-West regions and the remainder of the United States and Canada with the PITT OHIO Transportation Group and additional North American service providers. To contact PITT OHIO, please visit their website at www.pittohio.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.
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SOURCE EnSync, Inc.