MILWAUKEE, WI–(Marketwired – Oct 13, 2015) – EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, a leading developer of innovative energy management systems serving the commercial, industrial and multi-tenant building markets, broke ground on the state’s first distributed generation system in a multi-tenant building that incorporates solar energy and energy storage with a power purchase agreement (PPA).
The Century West Association of Apartment Owners’ building will utilize solar energy combined with EnSync’s Agile Hybrid storage and Matrix Energy Management System to reduce the condominium association’s electricity costs and provide resiliency to the building by ensuring electricity during grid outages.
EnSync’s on site technology ensures real-time delivery of the least expensive and most reliable electricity, while also enabling a comprehensive portfolio of electrical applications that save money and future-proof the building, providing a clear pathway to incorporating additional value streams for the customer in the future. It does so via the Matrix Energy Management System which can accommodate nearly any configuration or rate program forecast over the next 20 years.
The State of Hawaii is a leader in driving the transition to renewable energy sources, particularly with commercial and industrial businesses for which EnSync has designed a highly intelligent energy storage and energy management system. EnSync has taken an early lead in the state by closing multiple power purchase agreements, and works in close cooperation with Honolulu-based Holu Energy, LLC to secure its technology placement.
“Our innovative systems are creating a major opportunity for building owners to save a significant amount on their energy bills,” said Brad Hansen, CEO and President of EnSync Energy Systems. “The Matrix is uniquely capable of increasing the value of the installed distributed generation over time, based upon its modularity, expandability and unmatched economics. It has been designed to be the most efficient, cost effective system for synchronizing distributed generation, energy storage, grid interconnection, and the building load.”
Greentech Media estimates that by 2018, the market for combined energy storage and distributed solar generation systems will be more than $600 million in the United States alone for commercial and industrial buildings. Century West is an ideal example of how these type of installations will be constructed.
“EnSync’s product differentiation is at the core of our success as an advanced energy management company, and will allow us to continue securing these high-value, PPA-based agreements,” said Dan Nordloh, Executive Vice President of EnSync Energy Systems. “It’s through our next generation technology, like the Matrix, that EnSync can deliver real savings which can improve over the 20-year life of the PPA for our business partners.”
The ground breaking begins phase one of the project install at the Century West high rise residential building. EnSync partner Holu Energy, based in Hawaii, is an energy development firm that has been responsible for the development and execution of the Century West project, while PhotonWorks Engineering, another Hawaii-based company, is providing the engineering, design and installation work, and partnering with Holu Energy and EnSync Energy Systems.
About EnSync Energy Systems
EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, is enabling the future of electricity with intelligent energy management systems critical to a global economy becoming increasingly reliant upon the expansion of renewable energy. Whether part of the grid power transmission and distribution network, or behind the meter in commercial, industrial and multi-tenant buildings, EnSync technology brings differentiated power control and energy storage solutions to electricity-challenged environments. Our technologies also serve as the system level intelligence in microgrid applications, by seamlessly integrating multiple generation and storage assets to deliver power in remote and community level environments not served by the grid, or areas electing to use the grid secondary to microgrid assets. In 2015, EnSync incorporated power purchase agreements (PPA’s) into its portfolio of offerings, enabling electricity savings for customers and providing a stable financial yield for investors. EnSync is a global corporation, with a joint venture in AnHui, China at Meineng Energy, as well as a strategic partnership with Lotte Chemical in South Korea. For more information, visit: www.ensync.com.