MILWAUKEE, Sept. 6, 2017 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, a leading developer of innovative distributed energy resources (DERs), today announced the launch of a collaborative utility vertical initiative, targeting investor-owned utilities, independent system operators (ISOs) and third-party generators. EnSync Energy's Matrix Energy Management and DER Flex technologies will provide the initial market entry products and services to accomplish automated visibility and control of distributed electric generation resources on both sides of the conventional utility meter.
EnSync Energy contracted Deborah Galimba, president and chief executive officer of XUTILITY and a former electric generation interconnection senior consultant at PG&E, to lead the utility vertical initiative. She will be responsible for optimizing utility-scale power source deployment, empowering system operators and tapping into new financial opportunities in third-party private markets.
"Utilities are struggling to maintain relevancy during a time of increasing third-party generation contributions," said Galimba. "DER Flex offers safe distribution solutions that enable utilities to advance into the 21st century with resource planning models that move seamlessly between third-party and utility-controlled energy resources. The grid evolution tools provide remote visibility to system operators and encourage third-party energy generation, while allowing utilities to maintain and extend their roles as the vital service provider. By modernizing utility infrastructure with the DER Flex and Matrix technologies, teams can reduce outage risk, increase grid stability and streamline safe remote power deployment, which ultimately benefits electricity consumers everywhere."
EnSync Energy has created a fully integrated product ecosystem that converts behind-the-meter DERs into dispatchable energy fleets. EnSync Energy's DER Flex and Matrix Energy Management products communicate over NERC/CIP secure control remote platforms so that utilities and ISOs can access and control multi-metered assets and provide additional revenue benefits for the generator owner.
EnSync Energy's proven technology is currently deployed in an industrial application with the Canadian utility ENMAX. ENMAX's site uses the Matrix hardware as a physical power plant aggregator connecting multiple generation resources. The DER Flex software — the brains behind the energy — communicates, manages and remotely dispatches DER assets across the meter for ENMAX's grid stability needs and revenue opportunities.
Hawaiian Electric Company (HECO) is an early adopter of the Matrix and DER Flex technologies and has selected EnSync Energy as a DER aggregator in the Department of Energy (DOE)-funded SEAMS for SHINES initiative. The HECO program intends to leverage EnSync Energy's commercially available products to create market advantages for bidirectional meter control that enhance utility-controlled grid services.
"We're very pleased to have Deb Galimba join our efforts, as she shares our vision of how EnSync Energy technologies are uniquely positioned, as the next generation grid becomes reality," said Dan Nordloh, EnSync Energy's executive vice president. "Deb's passion for communicating our distinct advantage is proving to be instrumental in furthering existing relationships and opening new conversations with utility industry leaders. It is rewarding to see the progress of our technology strategy, and our utility vertical initiative is the next logical step that offers the opportunity for generating new revenue growth for EnSync Energy."
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
EnSync Energy will be at Booth #6731 at Solar Power International, Las Vegas September 11-13.
About XUTILITY
XUTILITY is a WBE certified consulting services firm based in Fresno, California. The firm is comprised of former utility renewable interconnection experts that have pioneered over 1.4 gigawatts of safe and reliable utility grid tie wind, solar and energy storage generation resources. The team specializes in oversight of utility and third party critical scope, schedule and budget execution activities. Their focus is to streamline the third-party interconnection process and develop partnership amongst team members to maintain project progress and achieve a safe, reliable and compliant project delivery. The team works worldwide, and target markets include: utility grid tie interconnection, renewable resource deployment, demand response, grid services integration, electrical vehicles, energy efficiency and sustainability. For more information, visit www.xutility.com
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.
Media Relations Contact:
Antenna
Shreema Mehta
ensync@antennagroup.com
(646) 416-9853
EnSync Energy Company Contact:
Michelle Montague
mmontague@ensync.com
(262) 735-5676
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame
(602) 889-9700
SOURCE EnSync Energy Systems