MILWAUKEE, May 10, 2018 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, the leading developer of innovative distributed energy resources (DERs) and business models for commercial and industrial (C&I) buildings and microgrid installations, today launched the company's leapfrog EnSync Home Energy System for property developers and residential customers looking for a completely integrated system with solar, energy storage, power electronics and an Internet of Energy control platform that delivers state-of-the-art functionality and modularity, with industry benchmark economics, safety and system efficiency.
EnSync Energy has built a reputation for deploying high-value DERs in the C&I building market segment, with modular and bankable solar plus energy storage solutions that have been deployed in commercial installations and sold to a multitude of buyers and investors. EnSync now brings the same innovation and expertise that enabled its leadership in the C&I market to solve the significant market challenges and product shortcomings for residential properties, delivering breakthroughs in performance, functionality, economic benefit and future-enabling capabilities.
"The current state of solar plus energy storage systems for the home is in the dark ages," said Brad Hansen, president and CEO of EnSync Energy Systems. "Most are significantly underpowered and cannot support the entire home if the grid electricity is out, or they have issues disconnecting and reconnecting to the grid during an outage. If the home is off-grid, many cannot reliably perform if high inrush currents are created by the start-up of appliances like refrigerators or air conditioners. Safety is also questionable because many systems use lithium-ion batteries that are repackaged EV car batteries. Some of these battery chemistries raise thermal stability concerns when utilized in a home energy storage application. Systems on the market today are typically characterized by a mix and match of components that may or may not integrate well together and lack the modularity required to customize the optimum system for each individual home. The EnSync Home Energy System addresses these weaknesses and includes a residential-scale version of our modular MatrixTM Energy Management system, safe and thermally resilient lithium-ion batteries and our DER FlexTM Internet of Energy solution — all of which were designed to optimally work together from the beginning.
"Additionally, we're bringing a phenomenal differentiator to the market with our True Peer-to-PeerTM energy exchange technology. True Peer-to-Peer enables individual residential units in a property to be linked into a network behind the utility meter to provide highly efficient, direct energy exchange between units. This is a major advantage for property developers, property managers and homeowners' associations, providing the benefit of highly efficient and economical transfer of excess energy from any given residence on the DC-LinkTM to any other residence in the network with excess demand. With True Peer-to-Peer, the entire property experiences a dramatic increase in the efficiency of the deployed renewable generation across the community. The payoff is a reduced consumption of grid electricity and significantly improved solar energy economics for everyone in the network."
The sharing of electricity between interconnected residences on a True Peer-to-Peer energy exchange network prioritizes the use of solar generated or stored electricity ahead of that from the utility grid for any residence in the network. The network can also be configured as "non-export," meaning no excess generation for any unit goes back to the utility grid. This capability is becoming more critical as several states and jurisdictions prohibit or economically penalize energy export. Additionally, many utilities are in the early stages of implementing time-of-day electricity rates and are already levying increasing demand charges on customers. The evolving rate structures and impact of resident vacancy rates, vacation schedules and time-of-day load profiles frequently make deploying solar generation uneconomical for large portions of a property development. Virtual net-metering and virtual peer-to-peer programs are fraught with excessive complexity and administrative overhead. True Peer-to-Peer changes the game by incorporating each residence in the network onto a simple DC-Link, where the excess generation or generation deficit impacts of any given unit can be aggregated across a larger population of units in the network.
"The future of the electricity market will be individual homes and building owners operating in a 'spot market' for the buying and selling of electricity across a network. At EnSync, we have enabled this future to exist today with our innovative products and services," said Hansen. "Our mission for the company is simple: the democratization of energy through innovative and economic energy systems. Homeowners and property owners that install our products today do so with the confidence that as the market for energy continues to be radically changed, they are not only prepared for it, but can capitalize on it and profit from it."
EnSync will initially target the multi-residential property market for its solution, then broaden its market presence. At the time of announcement, the company has already built a sizable order backlog for the EnSync Home Energy System, including the approximately 150-unit Keahumoa Place property in Oahu, Hawaii, announced on May 9, which will utilize True Peer-to-Peer energy exchange. The EnSync Home Energy System includes high-efficiency "LFP" lithium-ion batteries, a Matrix Energy Management system with 9-kilowatt alternating current (AC) output capacity, modular energy storage capacity of 9-kilowatt hour increments, modular direct current (DC)-DC converters for photovoltaic and energy storage and the DER Flex Internet of Energy control platform, which enables a home to access the same DER Flex cloud-based computing platform utilized by EnSync for connectivity between the asset owner, grid network and real-time market data for its C&I customers.
The EnSync Home Energy System has completed certification according to all relevant UL, California and Hawaii state requirements and specifications.
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, 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 EnSync 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.
EnSync Energy Media Contact:
Shreema Mehta
Antenna Group
ensync@antennagroup.com
(646) 957-3608
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.
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