MILWAUKEE, Jan. 31, 2017 /CNW/ -- EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, a leading developer of innovative distributed energy resource systems (DERs) and internet of energy (IOE) control platforms for the utility, commercial, industrial and multi-tenant building markets, announces Mr. David Eisenbud as the Managing Director of Sales for the Eastern United States and Canada, and reporting to Rick Whisman, EnSync Energy's Vice President of Sales.
"David's expertise within the renewable energy and energy storage markets will be critical to supporting the company's expansion in North America," said Brad Hansen. "His deep knowledge of each step in the DERs value chain directly aligns with EnSync Energy's market strategy, and will support the company's further success in the North American market."
Mr. Eisenbud is directly responsible for developing solutions for commercial, industrial, government and selective utility clients seeking fully-integrated products and services associated with DERs and advanced IOE grid-interactive communications and controls. In addition, he will work with policy makers and stakeholders to promote the benefits of smart grid architectures, including integration of direct current (DC) electrical loads with distributed DC power sources, such as solar PV, energy storage and fuel cells.
With more than 20 years of experience in sustainable energy businesses, Mr. Eisenbud's work spans senior management positions in commercial and utility energy development, as well as project financing at companies such as SunEdison, Solar Grid Storage, and TSMC Solar across the Americas. In 2007, he launched and was general manager of SunPower Canada, a subsidiary of SunPower Corporation dedicated to utility-scale solar power plant development, project acquisition and commercial PV system sales, as well as held various development positions within PowerLight Corporation, a widely recognized pioneer in solar power.
Mr. Eisenbud holds a MBA in Marketing from Fordham University and a BS in Economics (Finance) from Lehigh University.
As an inducement to join the Company, and as part of his compensation package Mr. Eisenbud was issued inducement stock options to purchase a total of 90,000 shares of Company common stock with an exercise price of $0.67 per share, which was the closing price of the Company's common stock on the NYSE MKT on January 17, 2017. The options will vest and become exercisable in three equal annual installments.
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.
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.
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SOURCE EnSync, Inc.
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