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EnSync Energy and Hawai’i Pacific University Partner to Bring Solar Energy to Oceanic Institute Campus

EnSync Energy and Hawai’i Pacific University Partner to Bring Solar Energy to Oceanic Institute Campus


EnSync Energy and Hawai’i Pacific University Partner to Bring Solar Energy to Oceanic Institute Campus

Solar installation at not-for-profit marine center will deliver sustainable, low-cost energy to meet mission-critical energy needs

HONOLULU: 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, today announced a 20-year power purchase agreement with Hawai’i Pacific University to build a 211-kilowatt (kW) photovoltaic (PV) system on four buildings at its affiliate not-for-profit, the Oceanic Institute, on Oahu, Hawaii.

Nestled next to the iconic Sea Life Park Hawaii aquarium on the far eastern point of the island, the Oceanic Institute works as an applied aquaculture research facility to support the development of more efficient and productive farming in controlled underwater habitats. The Oceanic Institute works to improve the systems managing what the World Wildlife Fund describes as the fastest growing food production system in the world.

“Working with Hawai’i Pacific University and the Oceanic Institute of HPU enables us to champion both responsible coastal resource management and now sustainable, local energy. Just as its technology leadership has had ripple effects on the aquaculture industry, we hope the Oceanic Institute’s interest in solar energy technology will spread as well,” said Brad Hansen, CEO of EnSync Energy.

The Oceanic Institute, like other aquaculture facilities, has a large energy load to meet its mission-critical energy needs, which include constant water pumping. To find and deliver the lowest-cost, most reliable electricity from multiple sources, EnSync Energy performed detailed modeling of the site, the load consumption data, available energy assets and technical design options to optimize the final design and validate financial return on the photovoltaic system’s production numbers.

The 211-kW roof-mounted PV installation will support the Oceanic Institute’s large load by generating local and clean energy to be used on-site. The solar project will reduce the facility’s energy costs, which in Hawaii are the highest in the nation, by lowering the aquaculture research facility’s total grid-supplied energy use, reducing expensive peak demand charges and adding resiliency.

“Our partnership with EnSync Energy furthers HPU’s commitment to innovative energy solutions and sustainable business practices,” said Bruce Edwards, Senior Vice President and Chief Financial Officer of HPU. “We’re proud initiatives like this and our PV installation at Aloha Tower Marketplace are helping Hawai’i meet its clean energy goal.”

HPU and EnSync Energy’s 660-kilowatt PV system on the rooftop of the historic Aloha Tower Marketplace is the largest solar development in downtown Honolulu. The first phase of that project is operational and supplying energy to the mixed-use university space, while the second phase is under construction.

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 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 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 Hawai’i Pacific University
Founded in 1965, Hawai’i Pacific University has grown to become the state’s leading private, non-profit university, with a student population of nearly 5,000 undergraduate and graduate students from all 50 states and nearly 65 countries around the world. It has campuses in downtown Honolulu, Kāne’ohe, and Makapu’u, and on military bases around O’ahu. The Chronicle of Higher Education, The Wall Street Journal and USA Today have named it among the most diverse private universities in the nation. www.HPU.edu

Source: EnSync, Inc.
Anand Gupta Editor - EQ Int'l Media Network


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