Ozop Energy (OZSC) Announces the Supplying of Equipment for First Near Net Zero Microgrid

Rhea-AI Summary

Ozop Energy Solutions (OTCMKTS: OZSC) announced that its subsidiary, Ozop Energy Systems, received an initial order for a microgrid generator system for a near Net Zero Microgrid project in Hanover, Maryland. The project includes a 700kWh Eos Energy battery, a 350kW natural gas generator, and solar power systems aimed at saving over $4 million over 20 years while reducing carbon emissions. Funded by Counterpointe Sustainable Real Estate with a $3.7 million loan and complemented by state grants and tax credits, this initiative marks a strategic step for Ozop in distributed generation.

Positive

• Initial order for near Net Zero Microgrid project valued at $3.7 million announced.
• Expected savings of over $4 million and annual energy reduction of 1,279,290 kWh.
• Partnership with Counterpointe Sustainable Real Estate enhances funding opportunities.

Negative

• None.

WARWICK, N.Y., April 22, 2021 /PRNewswire/ -- Ozop Energy Solutions, Inc. (OTCMKTS: OZSC), ("Ozop" or the "Company"), has announced that its wholly owned subsidiary Ozop Energy Systems (OES) has received its initial order for a microgrid generator system for a first-of-its-kind near Net Zero Microgrid building solution. These near Net Zero Microgrids provide the three key benefits driving the paradigm shift to distributed generation: cost savings, carbon reduction and resiliency.

This is an exciting step in Ozop's core strategy to be a leading equipment supplier to the distributed generation space.

The near Net Zero Microgrid is for a commercial office building located at 7250 Parkway Drive, Hanover Maryland. This innovative microgrid project involves a 700kwh Eos Energy battery storage solution, a 350kw PSI natural gas generator, a 65kW AC solar photovoltaic system, two EV Charging stations from ChargePoint a deep retrofit of the interior lighting and plug loads, high efficiency motor replacements and new variable frequency drives. When fully operational the combined energy efficiency improvements of the microgrid will save more than $4,000,000 over the 20+ year life of the project as well as 1,279,290 kWh annually, dramatically reducing the building's overall carbon footprint. The near Net Zero Microgrid project will enable the building to remain fully operational in the event of an electricity grid failure as well as to participate in Demand Response programs.

The funding for the $3.7 million near Net Zero Microgrid project was provided by Counterpointe Sustainable Real Estate, an affiliated company of Hannon Armstrong (NYSE: HASI), and a leader in Commercial Property Assessed Clean Energy (C-PACE) financing. The C-PACE loan term from Counterpointe Sustainable Real Estate is for twenty years and the first payment will be made via the special property tax assessment in September 2021. The project is also a beneficiary from a Maryland Energy Administration grant as well as federal Investment Tax Credits.

OES will be providing approximately $600,000 of energy generation, storage and switchgear for this near Net Zero Microgrid project, which is to be the first of several near Net Zero Microgrid projects it will be supplying equipment to in the near future. Grid Energy and Masterplanning, LLC ("GEMM"), with whom OES has a strategic alliance, is the Construction Manager on the 7250 Parkway near Net Zero Microgrid project. With nearly 30 salespeople throughout the United States, GEMM anticipates construction managing more than $10 million of similar microgrid projects in 2021, and it will be using OES as its Equipment Purchasing Agent for this work.

Office space is a prime candidate for efficiency improvements and C-PACE. Offices require large amounts of electricity and water for lighting, climate control, and powering appliances necessary for business operations. According to the U.S. Energy Information Administration (EIA), office space was the second highest commercial user of electricity of which lighting was the largest single contribution. The potential for energy savings is clear and C-PACE helps to realize energy efficiency retrofits through providing funding for capital intensive projects immediately and with a deferred payback period that can mirror the estimated useful life of the installed improvements. The 7250 Parkway near Net Zero Microgrid project is a prime example of how C-PACE funding can be used for both cost savings, resiliency and significant carbon reduction.

"This is an exciting step in Ozop's core strategy to be a leading equipment supplier to the distributed generation space. The 7250 Parkway near Net Zero Microgrid project uses state-of-the-art equipment and controls and as such is one of the 'bleeding edge' solutions that is providing sustainability to the built environment", said Brian Conway CEO of Ozop Energy Systems. "We are proud to be part of a microgrid team that includes such leading companies as CounterpointeSRE/Hannon Armstrong, Eos Energy Storage and ChargePoint. Ozop looks forward to continued growth in its Equipment Distribution business and in particular rapidly expanding its product offerings to the dynamic microgrid sector."

For more information on OZSC please follow on the link, www.OzopEnergy.com.

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About Ozop Energy Solutions.
Ozop Energy Solutions (http://ozopenergy.com/) invents, designs, develops, manufactures, and distributes ultra-high-power chargers, inverters, and power supplies for a wide variety of applications in the defense, heavy industrial, aircraft ground support, maritime and other sectors. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.

About Power Conversion Technologies, Inc.
Power Conversion Technologies, Inc. (www.pcti.com) invents, designs, develops, manufactures, and distributes standard and custom power electronic solutions. Founded in 1991 and located in East Butler, Pennsylvania, the Company's mission is to be the global leader for high power electronics with a standard of continued innovation.

About Ozop Energy Systems, Inc.
Ozop Energy Systems is a leading Manufacturer and distributor of Renewable Energy products in the Energy Storage, Solar, Microgrids, and EV charging Station space. We are always among the first to receive the newest technology, products, and application techniques. We offer a broad portfolio of Renewable Energy products at competitive prices with a commitment to customer satisfaction from selection, to ordering, shipping, and delivery.

Safe Harbor Statement
"This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company's control). The company undertakes no obligation to publicly update any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law."

CONTACT:  Brian Hyland, (212) 805-3055, bhyland@rubensteinpr.com

SOURCE Ozop Energy Solutions, Inc.

FAQ

What is the recent development at Ozop Energy Solutions regarding microgrid projects?

Ozop Energy Solutions' subsidiary received an initial order for a microgrid generator system aimed at a near Net Zero Microgrid building in Hanover, Maryland.

What financial implications does the Hanover microgrid project have for Ozop Energy Solutions?

The project is funded by a $3.7 million loan from Counterpointe Sustainable Real Estate and is projected to save over $4 million over its 20-year life.

How does the Hanover microgrid project contribute to energy efficiency?

The project integrates advanced energy systems expected to save 1,279,290 kWh annually and significantly reduce the carbon footprint of the building.

What role does Hannon Armstrong (NYSE: HASI) play in the Ozop Energy Solutions project?

Hannon Armstrong is affiliated with Counterpointe Sustainable Real Estate, which is financing the $3.7 million near Net Zero Microgrid project.