EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, today announced they are working with ENMAX Energy Corporation at the District Energy Centre site in Calgary, Alberta, to integrate Solar and Energy Storage with a combined heat and power (CHP) system. EnSync is a leading developer of innovative distributed energy resource (DER) systems and internet of energy (IOE) control platforms for the utility, commercial, industrial and multi-tenant building markets. ENMAX, which is a member of the International District Energy Association (IDEA), will utilize EnSync’s Matrix Supply Response on Demand capability as part of the system integration and test several operating scenarios for optimal system performance and efficiency.
ENMAX will provide the combined heat and power and purchase the energy storage from EnSync. EnSync will provide the Matrix technology in combination with EnSync’s new proprietary control platform for complete system integration and testing at the District Energy Centre.
“ENMAX strives to offer innovative energy solutions to help its customers lower both their operating cost and environmental footprint,” said Ray McKay, VP of Energy Solutions, ENMAX Energy. “Participating in this pilot project will help us better understand the integration of renewables, storage, heat and electricity in this continuously evolving energy market.”
EnSync’s Matrix Energy Management platform is a differentiated technology for easily integrating and controlling distributed energy resources, such as solar and storage, with great potential value in leveraging those assets as a controllable on-demand energy source. Integration with existing energy systems, such as combined heat and power, demonstrates the flexibility Matrix provides and the ability to seamlessly add distributed energy resources to existing commercial and industrial assets. In addition, Matrix enables future proofing capabilities should the constraints change on system operation over the lifetime of the project.
EnSync and ENMAX will configure existing distributed energy resources at District Energy Centre to enable grid support services and demonstrate Supply Response on Demand from behind-the-meter energy resources can create a path to future revenue streams for owners of distributed energy assets.
“We’re very pleased to be working with ENMAX on a project that has the potential to significantly enhance the value for the integration of combined heat and power systems, with solar power, and energy storage,” said Brad Hansen, President and CEO of EnSync Energy Systems. “The Matrix Energy Management System maximizes the value of distributed energy resources to the asset owner and to the utility. Matrix allows optimum simultaneous management of multiple sources of electricity, while also providing the seamless communication and control required for the utility to enable real-time supply response from the distributed energy resources. We look forward to a very successful collaboration with ENMAX.”
About EnSync Energy Systems
EnSync, Inc. (NYSE MKT: 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 in Hawaii. For more information, visit www.ensync.com
About ENMAX Corporation
Through its subsidiaries, ENMAX Power Corporation makes, moves and sells electricity to residential, small business and large commercial customers and is headquartered in Calgary, Alberta, with offices in Edmonton. ENMAX Power Corporation owns and operates transmission and distribution infrastructure in Calgary and ENMAX Energy Corporation owns diverse electricity generation facilities throughout the province. Since 2007, ENMAX has been named one of Alberta’s Top Employers. ENMAX Energy is currently the retailer of choice for both The City of Calgary and The City of Edmonton.
Safe Harbor Statement
Certain statements made in this press release contain 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,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: 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 involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those 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 Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame