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Lotus Lotus Building Forms Applications

further particulars of Lotus website regeneration unveiled, together with creation of new jobs | killexams.com Real Questions and Pass4sure dumps

published: 11:45 12 October 2018 | up-to-date: 11:45 12 October 2018

An artists' impression of the new client experience centre deliberate by way of Lotus at its Hethel headquarters. picture: Feilden+Mawson.

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The Hethel-based mostly carmaker unveiled a multi-million pound expansion plan ultimate month, which contains the addition of a heritage museum celebrating the 70-year history of the famous company.

With the planning software now formally submitted, it can also be printed the museum and associated museum will create a 14 new job vacancies at the web site - all full-time positions.

On suitable of this, the introduction of a new consumer base building will also create an additional six positions, also full-time posts.

in the meantime, documents submitted with the utility have revealed additional particulars of just what the investment could imply for the future of the headquarters.

The design and entry statement for the museum states it has been mainly designed to have enormous windows, to permit friends no longer only to soak up the cars on screen interior, however additionally the environment.

It says: “The ratio of glazed to solid has been developed to maximise the connection between internal and out, to be able to view the landscape from inside the building.

“this is critical for the museums as the vehicles should still predominantly be considered with landscape within their context.”

Even the close four,000m/sq building itself has been designed with the company in mind, with the inclusion of a cover designed to create the look of the rear spoiler of a Lotus Evora automobile.

speaking on the unveiling of the plans, community Lotus’ chief govt Feng Quinqfeng mentioned: “Hethel is, and may at all times be, the coronary heart of Lotus and their plans are the subsequent step in readying the web site for the next 50 years.

“Hethel is rightly the centre of the brand and what greater region for customers, aspiring owners and team of workers to event their values?”

A 2,175m/sq ‘consumer journey’ building in the meantime is to encompass a viewing platform overlooking the site’s noted test tune, linked to the restaurant and museum by way of a 7.2m boulevard.

The plans had been submitted to South Norfolk Council in four individual applications, one for the museum and restaurant and an additional for event base, with extra purposes so as to add a roof terrace and restructure on-website parking.


Microsoft declares New application and Messaging Migration equipment for Lotus Notes/Domino purchasers | killexams.com Real Questions and Pass4sure dumps

REDMOND, Wash. — Jan. 17, 2006 — As part of its broader strategy to make it more straightforward for Lotus Notes/Domino agencies to flow to the Microsoft collaboration platform, Microsoft Corp. nowadays introduced a set of new and up to date tools to help companies analyze their Notes/Domino software environment and move vital software records to Microsoft’s collaboration platform. These tools, which should be attainable for free download, include the Microsoft® application Analyzer 2006 for Lotus Domino, Microsoft information Migrator 2006 for Lotus Domino, and new home windows® SharePoint® services application Templates. in addition, Microsoft introduced the immediate availability of updated messaging and calendaring migration and coexistence equipment, purchasable now for gratis down load, that encompass alternate Connector for Lotus Notes/Domino, trade Calendar Connector for Lotus Notes/Domino and Migration Wizard for Lotus Notes/Domino. Microsoft continues to be the collaboration platform of alternative with a whole lot of groups global, akin to Arcelor, First statistics Corp. and Wolters Kluwer, making the choice to movement in the past six months. leading business analyst company IDC has also identified Microsoft because the market leader in built-in Collaborative Environments, with a fifty one p.c share, a 10 percent distance over its nearest competitor in response to 2004 income.*

“every year Microsoft invests more than $seven-hundred million (U.S.) on the workplace gadget of classes, servers and features to make certain their shoppers get essentially the most value possible from their built-in collaboration platform. these days we're responding to the strong demand we’re seeing from purchasers the use of Lotus Notes/Domino who're planning a transition to this platform,” pointed out Kurt DelBene, corporate vice chairman of the office Server group at Microsoft. “This announcement is a huge step in their usual approach toward assisting these valued clientele make the circulate as a way to begin to take competencies of their platform’s benefits.”

New tools Ease utility and Messaging Transition

Many groups are looking for information in constructing and executing on a transition plan for their Lotus Notes/Domino functions. the new and up to date Microsoft equipment announced nowadays will assist shoppers analyze and address their entertaining environments. The tools encompass right here:

  • Microsoft utility Analyzer 2006 for Lotus Domino. This tool, purchasable in the first quarter of 2006, will tremendously increase the manner of examining a Notes/Domino utility environment and provide a framework for making thoughts to transition these applications to the Microsoft platform.

  • Microsoft statistics Migrator 2006 for Lotus Domino. This new device, accessible within the second quarter of 2006, will enable companies emigrate information from Lotus Domino template-primarily based applications to home windows SharePoint functions utility Templates.

  • additional windows SharePoint capabilities software Templates. constructing on the success of 30 application templates launched in August 2005, Microsoft announced three new utility templates attainable today developed for purchasers the usage of equivalent Lotus Notes/Domino templates these days: discussion Database, crew Work web site and document Library.

  • updated Messaging and Coexistence equipment. To assist businesses with the transition from Lotus Notes/Domino messaging to Microsoft alternate Server, Microsoft is presenting improved performance and accelerated stability for change Calendar Connector for Lotus Notes/Domino, exchange Connector for Lotus Notes/Domino and Migration Wizard for Lotus Notes/Domino.

  • Microsoft will proceed to bring new options to assist these clients make the transition to Microsoft’s collaboration platform. as an instance, there's a identified should supply a means for customers to construct and customize workflow-enabled functions on SharePoint products and applied sciences, and Microsoft could be addressing this need within the coming months.

    shoppers and companions choose Microsoft’s built-in Collaboration Platform

    purchasers are making the strategic business resolution to move to Microsoft’s collaboration platform to boost employee productiveness, cut back IT prices and enrich enterprise approaches. Arcelor, a leading player in the world steel industry, recently decided to standardize its 50,000 European users on the Microsoft collaboration platform with the majority of them moving from Lotus Notes and MEMO. First facts Corp., which employs 32,000 americans international, announced this month that it is relocating from Lotus Notes/Domino to the Microsoft platform. during the past six months, tons of of Lotus Notes/Domino shoppers have begun making the flow to Microsoft’s collaboration platform. Some of these consumers encompass Adaptec Inc., BASE nv/sa, BC Biomedical Laboratories, BRFkredit, CompUSA, Endsleigh, FNAC, Sanborns, SGS, Wolters Kluwer and Wonderware.

    “After an intensive evaluation of their atmosphere, they diagnosed that they might greatly cut expenses and enhance productiveness for their 18,four hundred personnel by way of replacing it with Microsoft’s integrated collaboration answer,” stated Kevin Taylor, important architect for inner expertise Outsourcing at Wolters Kluwer.

    furthermore, global migration solution providers comparable to Casahl technology Inc ., Quest software Inc. and SourceCode Corp. supply complementary options to assist these consumers in their move. “during the last eight months they have seen a definite style of larger organizations opting for to movement from Lotus Notes to the Microsoft collaboration platform,” said David Waugh, vp, product management, Infrastructure administration options at Quest application. “today they are licensing their migration software at a fee averaging 50,000 seats per thirty days, which they see as a powerful indicator of the extent of valued clientele relocating to Microsoft’s collaboration platform. clients are searching for a way to immediately and seamlessly flow to the Microsoft platform, and Quest is chuffed to give options that support them meet that need.”

    finally, functions suppliers corresponding to Avanade, Fujitsu Consulting, Infosys technologies Ltd. and Tata Consultancy functions are proposing consulting advantage. “within the remaining six months, worldwide demand for Avanade’s migration features from Lotus Notes/Domino to the Microsoft collaboration platform has more than doubled, and they predict to see that increase proceed,” stated Larry LeSueur, vice chairman of Infrastructure and protection options at Avanade. “To handle this customer need, Avanade has invested in establishing a Lotus Notes/Domino messaging and utility migration answer in line with their previous enterprise migration successes, and they are desirous to consist of Microsoft’s new equipment within the portfolio.”

    extra guidance on these tools and resources can be found at http://www.microsoft.com/technet/interopmigration/collaboration/default.mspx.

    situated in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in utility, capabilities and solutions that help people and businesses know their full advantage.

    * supply: IDC’s international integrated Collaborative Environments 2004 supplier Shares: heat Spots found on the Expanse of ICE, June 2005

    Microsoft, home windows and SharePoint are either registered emblems or trademarks of Microsoft Corp. within the united states and/or different countries.

    The names of actual businesses and products outlined herein can be the emblems of their respective owners.

    be aware to editors: if you are interested in viewing more information on Microsoft, please consult with the Microsoft net web page at http://www.microsoft.com/presspass on Microsoft’s company counsel pages. internet links, cellphone numbers and titles have been correct at time of book, but may additionally on account that have changed. For extra suggestions, journalists and analysts may contact Microsoft’s quick Response team or other applicable contacts listed at http://www.microsoft.com/presspass/contactpr.mspx.


    Lotus, IBM Launch E-Biz Developer materials | killexams.com Real Questions and Pass4sure dumps

    information

    Lotus, IBM Launch E-Biz Developer elements
  • by means of Scott Bekker
  • 06/12/2000
  • Lotus construction Corp. and IBM Corp. unveiled two new substances for software builders concentrated on collaborative technologies. The Collaboration Zone on IBM developerWorks presents purpose content material on the latest applied sciences for builders constructing open, specifications-primarily based, and move-platform collaborative options.

    additionally, Lotus (www.lotus.com) Developer community (LDN), a new Lotus useful resource site, presents builders in-depth information for building collaborative e-business functions and a gateway to the Lotus developer community.

    LDN is a neighborhood-primarily based, self-provider e-enterprise site, which presents builders access to a significant repository of counsel on Lotus internet application items, strategy, and construction tendencies. It serves as a vacation spot for both Lotus and non-Lotus builders to get the latest technical counsel and supplies on collaborative e-company functions, options, and business information.

    LDN presents technical articles and news features, online researching, and sample code, as well as technical aid.

    in addition to LDN, the new Collaboration Zone of developerWorks (www.ibm.com/developerworks) offers sample code, technical articles, skilled columns, and trade news on collaborative utility construction that makes use of open requirements similar to Java, XML, and Linux, in addition to open workflow and messaging requirements.

    each LDN's and developerWorks' neighborhood-based mostly guidance can also be accessed free of charge. - Isaac Slepner

    in regards to the writer

    Scott Bekker is editor in chief of Redmond Channel companion journal.


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    EnSync, Inc. (ESNC) CEO Brad Hansen on Fiscal Q1 2019 Results - Earnings Call Transcript | killexams.com real questions and Pass4sure dumps

    EnSync, Inc. (NYSEMKT:ESNC) Q1 2019 Results Earnings Conference Call November 12, 2018 4:30 PM ET

    Executives

    Joe Dorame - Managing Partner, Lytham Partners

    Brad Hansen - President and Chief Executive Officer

    Bill Dallapiazza - Chief Financial Officer

    Analysts

    Eric Stine - Craig-Hallum Capital Group

    Sameer Joshi - H.C. Wainwright & Co.

    Aaron Spychalla - Craig-Hallum Capital Group

    Operator

    Good day and welcome to the EnSync Energy first quarter fiscal year 2019 results. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

    I would now like to turn the conference over to Joe Dorame with Lytham Partners. Please go ahead.

    Joe Dorame

    Thank you, Sean. Good afternoon and welcome to the EnSync Energy Systems quarterly conference call. On the call with me today are Brad Hansen, CEO of EnSync Energy Systems, and Bill Dallapiazza, Chief Financial Officer.

    The EnSync Energy Systems' press release containing the first quarter fiscal 2019 results and commentary was sent out earlier this afternoon, and may also be found on the company's website at www.ensync.com.

    Please take note of the Safe Harbor paragraph that appears at the end of the press release covering the company's financial results, and that any forward-looking statements that they make only apply as of the date made, and are subject to inherent risks and uncertainties, including those described in their annual report on Form 10-K, and should not be unduly relied upon.

    Except as otherwise required by the federal securities laws, the company disclaims any obligation or undertaking to publicly release any updates or revise revisions to any forward-looking statements.

    Now, I'd like to turn the call over to Brad Hansen, CEO of EnSync Energy Systems. Brad?

    Brad Hansen

    Thank you, Joe. And good afternoon. I’ll begin the call today with commentary on some of the changes taking place in their markets and operating environment. Then Bill will cover their Q1 financial results and accomplishments, after which I'll provide a more detailed commentary on how we’re positioned to take advantage of the significant opportunity before us in the residential energy systems market.

    Since their last call about seven weeks ago, there have been additional reports and indicators that the energy storage installations in the US market will not only continue to grow, but do so at a phenomenal rate over the next five to six years. So, I want to take some time today to talk about the market, how they see it developing and how they intend to achieve success.

    We estimate that the US market was about $400 million in size on a dollar basis for 2017, approximately split between utility installations and commercial and industrial installations, with only a trace amount of residential installs.

    Before 2017, the majority of US installations were for utility frequency regulation. Their solar-plus-storage systems in Hawaii were among the first behind the meter C&I installs in the country, the first to be permitted in Hawaii and the first to be bankable and sold as PBAs to third-party financial investors in the US.

    This year, they estimate that the overall energy storage systems market will grow 75% compared to 2017, with about 700 million of deployment. Sizable growth, but still a relatively small market in aggregate, considering it’s spread across three totally different segments with different buyers and buying needs and motives.

    The big story for 2018 is that residential energy storage system deployments have grown from being inconsequential in 2017 to being larger on a dollar basis than even utility systems in the first half of the year.

    The growth has surprised even the most ardent proponents of residential energy storage. There are a lot of ideas about the drivers for this growth, but it appears that a tipping point has been reached for homeowners’ desire for energy independence.

    This is why we’re so bullish on the segment and the launch timing for their EnSync Smart Home Energy System. I’ll discuss their progress later in the call, but we’re very pleased that, in their current reported backlog, they already have $6 million for systems in the residential segment just a half a year after the product announcement, in addition to a robust pipeline of opportunities.

    Now, circling back to the overall energy storage systems market in 2019, they estimate the US market size will triple compared to 2018 to approximately $2 billion in size; then in 2020, double year-over-year to around $4 billion in size. In total, from 2019 through 2023, they believe the US market will grow at a 60% compound annual growth rate and be worth about $24 billion of opportunity over that period.

    Of this, the residential and utility markets will both be over $9 billion in size. Deployed megawatt hours being much bigger for utility systems, but pricing of deployed megawatt hours being much higher for residential.

    Commercial systems have been their core market over the last three years. The US commercial systems market will be the smallest of the three segments, but still worth about $5 billion from 2019 to 2023.

    The commercial systems market can be divided into two segments, fully integrated microgrids where PV and storage work together and dynamically operate real-time based upon multiple application requirements and building load changes.

    This represents about 15% of the commercial systems market right now, by their estimate, and will grow to represent about a third of the market by the end of the 2019 to 2023 period. We’re the technology leader in this portion of the market and have proven operational and bankable systems.

    Many of you already saw that Schneider Electric, their distributed energy resource partner, won a contract to develop and install a microgrid at the Port of Long Beach. They expect a PO from them in the near future and are excited to be a part of that project in support of their effort.

    The bulk of the current commercial systems market is characterized by single application supply response or demand clipping systems that are fairly rudimentary and can either periodically charge off the grid or PD and discharge once per day or less.

    This less complex portion of the commercial systems market represents upside growth potential for us to enter in the coming months and they can leverage portions of their Smart Home Energy System technology to differentiate and add value versus the current competition.

    The US utility systems market is worth a little over $9 billion for the 2019 to 2023 period. They don't currently serve this market segment as it requires a very large balance sheet. It has poor system margins relatively and cycle times that are far too long relatively.

    Several factors are fueling the growth in commercial and residential systems, such as utility rates and rate structures; customer desire for resiliency; declining cost and energy storage systems; and for residential, the desire for energy independence that I mentioned previously.

    For example, by some reports, almost three out of every four residential consumers that put PV on their roof are now expressing a strong interest in including energy storage.

    So to summarize, while the US energy storage systems market has been relatively small to date, it's now in the early stages of a rapid and sustained growth period, and they have about $15 billion of market opportunity between residential and commercial energy systems through 2023 that they can pursue.

    We have differentiated products, technology and business models that enable residential and commercial clients to achieve energy independence.

    To conclude, energy is a policy driven market, including being impacted by trade policy. Most of you are likely aware that they are among the companies that are working to navigate through the current trade tensions between the US and China.

    While they largely design all of their systems and software platforms within EnSync in the US, their production partners for almost all of their product modules and components are in China, whether it be energy storage batteries or power electronics modules.

    There are currently tariffs in place on solar modules and very soon for the power electronics modules that are shipped from China. It remains to be seen how or when this gets resolved, but they believe that any protracted tariff regime at the current level, after speaking to their supply chain partners, will likely result in manufacturers establishing operations in North America directly or in a country with a lower tariff regime.

    With that, I’ll turn the call over to Bill to discuss their Q1 fiscal year 2019 results. Bill?

    Bill Dallapiazza

    Thank you, Brad. And I would like to add my welcome to those on the call. Today, I'll go through an overview of the financial results for the first quarter of fiscal 2019.

    For the first quarter, they recorded total revenue of $2.7 million compared to $2.4 million in the first quarter of fiscal 2018. Revenue in the current quarter was positively impacted by the number of PPA projects in progress. Revenue during the first quarter was largely derived from their 10 PPA contracts they have under construction compared to 7 PPA contracts in the year-ago period.

    As discussed on their last earnings call, they continue to experience lower permitting in Hawaii which, based on local media reports, appears not to be isolated only to us.

    However, near the end of the first quarter and into the second quarter, they experienced some positive movement on permitting for these projects.

    Gross margin in the first quarter was 13.2% compared to 12.5% in the year-ago period. The current-quarter margin was below their expected range of 15% to 25%, primarily due to project mix with two key market penetrations driving 61% of revenues in the first quarter and margins between 10% and 15%.

    We expect gross margin to expand in the second quarter and the company continues to expect gross margin on future PPA sales to be in the range of 15% to 25%.

    Advanced engineering and development expenses were $1.2 million during the first quarter compared to $1.4 million in each of the year-ago period and fourth quarter. This decrease from the year-ago period was largely driven by a reduction in stock-based compensation and the winding down of the development phase for the EnSync Smart Home Energy System in the fourth quarter of fiscal 2018.

    SG&A expenses totaled $1.9 million during the first quarter compared to $2.3 million in each of the year-ago period and fourth quarter. This decrease from the year-ago period was largely driven by reduction in legal consulting services and implementation of other cost control initiatives.

    Total advanced engineering and development plus SG&A expenses, excluding stock-based compensation, were $2.8 million during the first quarter compared to $3.3 million in each of the year-ago period and fourth quarter. The company intends to hold spending at or below first-quarter levels during the remainder of fiscal 2019.

    Stock-based compensation was $300,000 during the first quarter compared to $400,000 in each of the year-ago period and fourth quarter.

    Net loss attributable to common shareholders for the first quarter was a negative $2.9 million or $0.05 per basic and diluted share compared to a negative $4 million or $0.07 per basic and diluted share of the year-ago period.

    Estimated backlog value for PPA projects, components and systems as of the date of this call is $13.8 million. They remain very confident in their current pipeline, in particular their residential pipeline and their ability to monetize it.

    On a quarterly basis, their near-term goal is to grow product signings from the low-single digits a quarter to double-digits, while quarter-to-quarter fluctuations in contract signings and, in turn, revenues should be expected due to the average selling price of their projects. Overall lumpy nature of their business and the typical quarterly puts and takes, contract signing is and will be one of the benchmarks that they use internally to measure their near-term progress.

    In terms of their balance sheet, their cash and cash equivalents at September 30, 2018 was $3 million, which was comparable to the balance at June 30, 2018.

    We use cash in operating activities of $2.6 million in the first quarter compared to a usage of cash of $2.8 million in the year-ago period and $2.1 million in the fourth quarter.

    The first quarter was negatively impacted by working capital changes related to inventory procurement and timing of investor milestones. They will continue to evaluate financing options in the future as they grow and shift their business to a residential-centric model.

    We continue to gain traction with their operational execution in the second quarter of fiscal 2019 and believe that current cash and cash equivalents, cash flows from existing and future projects in their backlog and pipeline, and potential financing available to us in the future will provide sufficient cash for at least the next five quarters.

    With that, I will turn the call back over to Brad.

    Brad Hansen

    Thanks, Bill. They talked a few weeks ago about some of the key product differentiators they have with the EnSync Smart Home Energy System. We’re pleased with the early traction we’re getting the market. And as I stated earlier, we've already netted about $6 million in contracts by about the time they ship the first system.

    We’re getting great feedback on their product from PV developers and installers for the value they bring and the unmatched modularity and capability.

    Our goal is to bring energy independence to the homeowner. To do so, we’ve developed a product that can not only seamlessly integrate the PV and energy storage into the home energy supply, but we've also – but we’re also managing the demand or load of the home with capability to shape energy utilization of water heaters and other major appliances. Their is the first true smart home energy system available for the residential market.

    Energy can be prioritized, scheduled, automatically managed, all according to the owner's decisions and machine learning in the home. They thought of solutions for even many relatively nuanced occurrences that can take place with a home, like the utilities sending a signal to your PV system to curtail or cut the output, a very real scenario in the near future and a phenomenon that already occurs in the commercial systems segment.

    Our Smart Home Energy System can actively sense that signal occurring; and instead of cutting back the PV generation, automatically disconnects from the grid, so you can run your PV at maximum output until the utility stops the curtailment signal or until the home load requires the utility power to meet the demand, whereupon the system will automatically reconnect to the grid.

    So, we’ve gone well beyond providing resiliency during an outage. They have a complete solution for the energy independence that consumers installing renewables on their homework are craving.

    As they stated in the September call, we’re focused on two different segments in the residential energy system market. The first is property developers, homebuilders and HOAs for multifamily properties or communities.

    We've achieved quick traction in this channel due to their ability to link the energy assets of individual residential units into a peer-to-peer network behind the respective utility meters.

    We effectively create a community microgrid where excess energy from any unit can be exported into a DC link rather than out to the utility grid, then utilized by others in the network that have demand that cannot be supplied by their PV or batteries.

    This is game-changing capability because it radically increases the efficiency and utilization of the generation across the overall network and allows optimization to be done at the aggregated population rather than unit by unit.

    Each unit can be metered, so you know exactly how much energy a resident is exporting or importing from the DC link.

    Our backlog includes the Keahumoa Place installation currently under construction. This will be the first True Peer-to-Peer property in the United States where energy is exchanged on a physical link that is bankable and sold to a third-party financial investor.

    There are another half-dozen multifamily property opportunities in their near-term pipeline that are targeted for Peer-to-Peer energy exchange installations, with at least one of these sets assigned soon.

    Beginning in 2020, California will require all new properties to be zero net energy, meaning they must install renewable energy like PV to produce at least as much energy as they consume.

    Our Smart Home Energy System used in a peer-to-peer network can enable these new developments to implement renewables in the most economical way possible and to achieve energy independence across the community.

    California will require zero net carbon homes beginning in 2045, but, surprisingly, there are already developments in progress that want to achieve the status much sooner. They provide a key enabling solution for this policy to become reality.

    The second segment of the residential market for us is individual family homes. They intend on accessing this market by building a developer network. It will take us some time to build out these channels, but it is underway and we’re getting very positive feedback on their product that it’s the only product in the market that provides the complete solution for home energy management.

    We’ll begin shipping 20 systems to channel partners starting in January that will allow them to qualify their product as one of their offerings.

    At present, their Holu Energy team in Hawaii is qualifying additional opportunities that will go into their residential project pipeline.

    We set a goal for fiscal year of having at least $15 million of signed deals in place for multifamily residential properties at the end of June 2019. We’re nearly halfway to achieving this goal so far this year.

    We’re also targeting to achieve initial residential segment revenue in the next two to three months. By their fiscal year 2020, they expect their residential segment business to be larger than their commercial systems business based upon the high growth rate of the market and their heavily differentiated product, enabling good traction in that market.

    Our early target states are Hawaii, California, Arizona and Nevada, states where there is already proven market and consumer desire for the energy independence they provide.

    I'd like to close by briefly mentioning a few key other accomplishments since their September call. As you saw this morning, they sold their HPU Ocean Pacific PPA. This is the third installation that we’ll have constructed with Hawai'i Pacific University, and we’re delighted that they’ve partnered with us to bring renewable energy to the Aloha Tower and Ocean Institute properties.

    As I mentioned, they expect to receive a PO from Schneider Electric in the near future for the Port of Long Beach project.

    Finally, they submitted six sites in Illinois into ComEd for interconnection approval. The queue is relatively long and we’ll provide more information on their efforts there as things progress.

    We also continue to reduce operating expenses, while also supporting the execution and growth of the business. And as Bill stated, operating expenses were about $600,000 less in Q1 compared to the year-ago quarter.

    Our margin was impacted this quarter because they had two installations where they elected to take a lower margin for strategic penetration purposes almost a year ago. These made up a significant amount of their revenue in Q1; and in Q2, they expect to see a return to the margins of recent quarters.

    This is a truly great time for EnSync and we’re extremely excited about the energy storage systems growth coming in the US market, especially in the residential market segment where their EnSync smart home energy system breaks new ground in providing the energy independence consumers are seeking.

    We appreciate you calling in today and I'm happy to now take your questions. Sean?

    Question-and-Answer Session

    Operator

    [Operator Instructions]. Their first question comes from Eric Stine with Craig-Hallum. Please go ahead, Eric.

    Eric Stine

    Hi, Brad. Hi, Bill.

    Brad Hansen

    Hi, Eric.

    Eric Stine

    Just wondering if they could start with the microgrid project at Long Beach with Schneider. I know it's early. You're waiting on the PO. But just anything you can share there about how long you expect that to last and then –

    Brad Hansen

    Hi, Eric. Did they lose you?

    Operator

    It appears that Eric has somehow dropped. If you would like to reenter the question queue, please press star then one and they can add you back.

    Brad Hansen

    I think they dropped the queue actually. Anyway, hoping Eric can still hear what they have. Maybe, Sean, you can check why the queue dropped.

    Eric, I think on the first question with Schneider, their contract is being negotiated with DGS, which is the state agency that is in charge of any state projects and grant-based contracts. So, for DGS, they know from their experience on CAL FIRE, sometimes that process can take two to four months. And it's basically just dotting all the Is and crossing all the Ts. So, my expectation, since they got this award about a month ago, is that we’ll see something from them within the next couple of months, maybe the next two months. But, ultimately, they've got to get their contract complete with the Department of General Services in California.

    Maybe, Sean, can they go to Eric again. He’s in the queue.

    Operator

    Eric Stine, you are now being rejoined as the question asker.

    Eric Stine

    Yeah. I don't know what happened there. So, thanks for getting me back in. But just curious about the pipeline beyond that. Obviously, Schneider has got bigger plans and I know that the timing of this initial one is tough. But how do you look at what this could become or what Schneider’s ultimate goals?

    Brad Hansen

    Yeah. I think overall in the market – as I mentioned earlier, that portion of kind of the high complexity market that's associated with microgrids, they think, it'll grow from about 15% of the commercial systems market to about 30% or a third over the next five years.

    What's driving that or what has caused it not to grow as much today is grid services and utility roadmaps that rewards you for great service participation, but that's going to change. There's no doubt that's going to change, and that's why they think the market is going to about a third for microgrids versus kind of simple supply response systems.

    We’re working with Schneider on early opportunities to capitalize on their technology in that portion of the market. It will go up from here, and there is a number of opportunities that we’re working together.

    Without committing to the next order after this, I will tell you the teams are working together on a number of opportunities and we’re feeling very good about the relationship at this point.

    Eric Stine

    Okay, good. Maybe just turning to the home energy systems, I'm just curious what you're seeing from utilities on this. I know you talked about a big backlog and talked about that you think, eventually, it’s bigger than C&I and I would think some forward-looking utilities might embrace this, while there is fight against it tooth and nail. Just kind of curious how you see that playing out over the next couple of years.

    Brad Hansen

    Yeah. It’ll be different in each market. And in some cases, I think the utilities will embrace it because we’ve potentially solved a big problem. And in some cases, they may have to appeal to the regulator to do the DC link.

    What I will tell you is we’re pretty feeling strong about the opportunity to link the assets in Hawaii. We’re doing over the next couple of months an early system that will run through permitting in California. And so, they just have to do that location by location because the rules are different, obviously, state-by-state. And even in California, while the big three generally have the same set of rules, there's kind of some different tweaks involved across the big three.

    So, they just have to go location by location and get that approval done. And that's how they intend to go forward. And like I said, we’ll be going through that process in California soon.

    Eric Stine

    Got it. Okay. Last one for me. Just the shipment to the customer in the Midwest, I know last call you thought that, by now, you may be able to share something. So, just wondering if you are able to on this call.

    Brad Hansen

    No. Three parties are involved in an opportunity, and so we’ll do a three-party release. They expect that to happen in the near future. They do have the PO. That system will ship later in the fiscal year. But as far as the press release and publicly stating where the opportunity is, they have to wait until all three parties – the timing is right for all three parties to be able to do that. I don't think it's going to take that much longer, but that's the process they have to go through.

    Eric Stine

    Okay, thanks a lot.

    Brad Hansen

    Thanks, Eric.

    Operator

    [Operator Instructions]. Their next question comes from Sameer Joshi with H.C. Wainwright. Please go ahead.

    Sameer Joshi

    Hey, Brad. Hey, Bill. Thanks for taking my question.

    Brad Hansen

    Hi, Sameer.

    Sameer Joshi

    So, just a clarification on one sentence in your press release about 27 commercial projects accounting for more than $42.8 million in electricity sales. Is the $42.8 million amount outstanding PPA value or is this the total value of all the commercial systems sold so far?

    Bill Dallapiazza

    I think you're right on the latter. That's the value of electricity those systems will provide over the life of the PPA.

    Sameer Joshi

    Oh, okay. Thanks for that. In terms of backlog, I think the previous caller alluded to it. It went down from 16.4 to 13.8. And during the quarter, you have delivered around $2.7 million. So, you did mention a microgrid installation in Ohio that you've got a purchase order for. Were there any other purchase orders during the quarter that are not included in this backlog?

    Brad Hansen

    Well, that backlog was as of seven weeks ago. So, we’re really looking at what orders have been put over the seven-week period. And it's a lumpy business. We've got a few orders that they think are imminent, but they just haven't gotten them in the last seven weeks. So, it's somewhat of a factor of the timing and that their last call was fairly recent.

    Sameer Joshi

    Oh, okay. So, maybe this next question also may be sort of similar. You had mentioned on the last call that you had six sites in Illinois, six parcels of land. And then, in this press release, you again mentioned another six. Is it additional six that you are expecting during 2018?

    Brad Hansen

    It's the same six we’ve made their way to closing on land options to putting those in the interconnect here with ComEd. So, the way this works is you've got to get the interconnect approval and then you can go apply to the program. So, that's where we’re at and they can't really do too much to push ComEd along. But we’ll definitely keep everybody updated as to progress on those.

    Sameer Joshi

    Oh, okay. Just one more on the residential system. What is the average purchase order size for, say, a multifamily or a home developer order?

    Brad Hansen

    That's a really good question. The range is really wider than it is for their commercial systems business. So, for example, I think at the low-end, they might do some projects that are half a million dollars type of size. And in some cases – I’ll kind of come back if I can to what goes into the projects and what potential things we’re providing. But I would say, at the low-end, we’re around $0.5 million. At the high-end, they could be $10 million. So, multiples of what their typical commercial system installation is. So, there's housing developments that we’re talking, a dozen units. And there's ones that we’re talking to that at full buildout will be 1,700 units. Those are the extremes. So, the range can be pretty big.

    As far as an average selling price, it's hard to peg that at this point, but I’d say we’re going to be in the $1.2 million to $2 million as an average selling price for the multifamily developments. But, again, the variance could be pretty big.

    In some cases, what we’re providing is a lot more than what they do for the commercial system. So, for example, Hawaii provides a separate credit for solar water heaters. Now, because of what they can do integrating the water heater load into each of the individual units, they can actually pull those in and put those in their package, so we’re actually capable of doing water heaters for every unit and having that value in their system underneath the overall contract across the property. So, this idea of being able to manage the entire energy of that unit, whether it's the supply part of the equation or the demand part of the equation, is a pretty big deal. So, we’re expanding their scope basically in those types of properties to really be a smart home energy system and everything that that entails.

    Sameer Joshi

    Oh, okay. Just to follow-up on that, the Peer-to-Peer energy exchange capability, has that been approved in Hawaii. And you previously said you're working on a case-by-case basis in California. So, Hawaii, do you already have the approval?

    Brad Hansen

    We have the interconnect application and they have an opinion around that application that gives us very high confidence that there won’t be issues.

    Sameer Joshi

    Okay, great. Thanks. I will take my questions offline.

    Brad Hansen

    Okay. Thank you, Sameer.

    Operator

    [Operator Instructions]. Their next question comes from Aaron Spychalla with Craig-Hallum. Please go ahead, Aaron.

    Aaron Spychalla

    Yeah. Hi, guys. My question is already answered. Thanks.

    Brad Hansen

    Okay. Thank you, Aaron.

    Operator

    At this time, there are no further questions in the question queue. This will now conclude their question-and-answer session. I would now like to turn the conference back over to Brad Hansen for any closing remarks.

    Brad Hansen

    Thank you, Sean. Thank you for everyone participating on the call today. The market environment for their products and services continues to be positive, driven by a shifting of energy production mix from carbon-emitting sources to renewable sources, and by increasingly favorable economics for solar energy, energy storage and combined solar-plus-storage systems for self-generation.

    We’re pleased with their progress, especially in the residential energy system segment and the traction we’re getting with their Smart Home Energy System. The inflection point for self-generation and energy independence has been reached with the floodgates of opportunity truly open, especially in the residential energy systems segment.

    There are few markets that have sustained growth above 30% compound annual growth rate. Even markets above 20% CAGR are considered high growth. The US market for energy storage systems will grow at a phenomenal 60% CAGR through 2023 and they look forward to being a key player in this megatrend market.

    We look forward to speaking with you again after the current quarter. Thank you again for your support and interest in EnSync Energy Systems.

    Operator

    The conference has now concluded. Thank you for attending today's presentation and you may now disconnect.

    SeekingAlpha

    IBM Opens New York Bluemix Garage for Cloud Blockchain Application Development | killexams.com real questions and Pass4sure dumps

    IBM on Tuesday announced a new Bluemix Garage in New York, located at Galvanize’s newly launched New York campus in SoHo. This enables developers and enterprises to work with IBM Blockchain code in the cloud.  As with IBM's other garages in San Francisco, London, Nice and Toronto, the New York Garage will invite startups and enterprises to collaborate in a creative environment outside of their traditional office setting.

    IBM is ramping up its efforts to become one of the top players in the emerging sector of distributed ledger technology. The company is a key member of Linux Foundation’s Hyperledger Project, a collaborative effort started in December to establish, build and sustain an open source non-Bitcoin blockchain. In February, Bitcoin Magazine reported that IBM was deploying a Blockchain as a Service (BaaS) for developers and making tens of thousands of lines of code available to the Hyperledger Project. In April, IBM announced new cloud services based on the company’s Hyperledger code and IBM’s cloud platform, Bluemix.

    Bluemix, on which more than 120,000 apps are launched every month, is becoming one of the largest open, public cloud deployments in the world. Based in open standards, it features more than 140 tools and services spanning categories of big data, mobile, Watson, analytics, integration, DevOps, security and the Internet of Things (IoT).

    To promote its Bluemix cloud services for blockchain development, the company launched a “Bluemix Garage for blockchain” initiative to “deliver business solutions that work” by combining industry expertise with blockchain technology along with proven development methodologies such as Design Thinking and Agile Development. IBM intends to deploy Bluemix garages in major cities worldwide as hubs where developers, product managers and designers can come together to build on Bluemix. The IBM garages will be open to local companies to visit, ask questions to IBM experts and see demonstrations of business solutions built on the “blockchain fabric” from the Linux Foundation Hyperledger project.

    The blockchain garages will have a business-oriented, as opposed to technology-oriented, approach. “We will explain IBM’s Blockchain point of view in business terms, avoiding technical gobbledygook,” states IBM. “We discuss what blockchain can and cannot do for business. They will encourage a dialogue (we don’t like monologues!) to make sure they are on the same page.”

    The idea is to persuade potential clients to rely on IBM for blockchain technology development and deployment: “If they decide they are on the same page, they can talk logistics to get the customer hands-on with blockchain.”

    “Galvanize has been a great home and partner for IBM’s groundbreaking Bluemix Garage on their San Francisco campus, and they are excited to bring that partnership to New York City,” said Jim Deters, co-founder and CEO of Galvanize. “Having IBM’s Garage in New York City, within the Galvanize community, allows their strong network of developers and startups to leverage the power of the cloud and the expertise of IBM to competitively innovate products and apps in the growing fintech and blockchain spaces.”

    The IBM press release notes that masses of developers, growing by 20,000 a week and projected to reach a global population of 25 million by 2020, are increasingly using Bluemix garages to tap into IBM Cloud APIs for blockchain technology, cognitive computing, IoT, unstructured data, social media and more to swiftly build and launch innovations.

    According to IBM, blockchain networks will vaporize current frictions in the economy that are inhibiting business growth, propelling the movement of capital and exchange of value. The company is also announcing a new blockchain project developed, in partnership with IBM’s garage network worldwide, by Mizuho Financial Group in Tokyo.

    “Mizuho will explore how payments can be instantaneously swapped, potentially leading to new financial services based on this rapidly evolving technology,” notes the new IBM press release.

    Mizuho Financial Group announced that it is collaborating with the IBM Garage in Tokyo to find out how payment settlements could be implemented near-instantaneously using the codebase developed by IBM for the Hyperledger project. The project will use a virtual currency pegged to the yen, developed by Mizuho. With this project, Mizuho expects to better understand how payment settlements can be efficiently streamlined in a private, secure and permissioned blockchain network, with better tracking and control of the exchange of funds.

    IBM noted that this is one of several ways the bank is exploring the use of blockchain and creating a platform across the bank using the Linux Foundation Hyperledger code. They added that Mizuho is gaining confidence in the use of IBM’s distributed ledger technology and sharing results with other Hyperledger members.

    “In this test, Mizuho will study the feasibility of blockchains with virtual currency in settlement business using the advanced applications development support service IBM Garage provided by IBM Japan,” notes the Mizuho press release. “IBM Japan will support Mizuho building a common platform to reform its development style such as designing and developing business applications using blockchains, with Mizuho's experience in system developments and IBM Japan's knowledge in global business services across various industries.”

    Images via IBM, Galvanize



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