EnSync Energy and Schneider Electric to Explore Distributed Energy Resource Technology and Market Opportunities
Collaboration to harness the latest energy management technologies to develop reliable, clean energy networks and reduce costs for customers
MILWAUKEE, June 13, 2017 /PRNewswire/ -- EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, 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, today announced it will work with Schneider Electric to explore technology and opportunities in the DER market.
After reviewing EnSync's Matrix™ Energy System, the two companies identified areas of mutual interest for collaboration. Starting in June 2017, Schneider Electric and EnSync Energy Systems will jointly explore market opportunities and technology advancements required to best serve markets utilizing distributed energy resources.
"The grid landscape is changing rapidly and DER deployments are challenging incumbent grid operating models," said EnSync Energy executive vice president, Dan Nordloh. "Both companies feel that we are in the early stages of transformational grid edge market opportunities. We look forward to strengthening our relationship with Schneider Electric to explore these areas of collaboration."
The growth in distributed solar generation enables decentralization of the grid and bi-directional power flows from all DERs. This provides an opportunity to integrate DER control and use it to the benefit of the overall electrical network.
Nordloh continued, "We are transitioning from simple distributed generation into an era of integrated distributed energy resources, where renewables, storage, energy management systems and IoE control capabilities replace solar-only installations. These distributed energy resources are an efficient and economical way to solve the shortcomings of the antiquated grid network and benefit the asset owner, enabling them to participate in the capacity and energy markets, as well as provide ancillary services. Distributed energy resources are effectively virtual power plants for the grid network. We are excited to be exploring this market with a globally recognized leader in power systems."
Navigant Research forecasts the annual market for solar plus energy storage DERs to grow to nearly $50 billion by 2026, with a 2017 to 2026 compound annual growth rate (CAGR) of more than 40 percent.
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 Schneider Electric
Schneider Electric is the global specialist in energy management and automation. With revenues of $26 billion US dollars (25 billion euros) in FY2016, our 144,000+ employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies reshape industries, transform cities and enrich lives. At Schneider Electric, we call this Life Is On.
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
[email protected]
(646) 416-9853
Investor Relations Contact:
Lytham Partners, LLC
Robert Blum, Joseph Diaz, or Joe Dorame
(602) 889-9700
EnSync Energy Company Contact:
Michelle Montague
[email protected]
(262) 735-5676
SOURCE EnSync Energy Systems
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