EnSync: Extends cure period for SPI Solar, Inc. Supply Agreement

MILWAUKEE — EnSync Energy Systems, a leading developer of innovative energy management systems for the utility, commercial, industrial and multi-tenant building markets (the “Company”), today reported that in light of ongoing discussions with SPI Solar Inc. (fka Solar Power Inc.) (“SPI”), the Company has extended to January 23, 2017 the deadline by which it expects SPI to cure its failure to meet its purchase obligations under its supply agreement with the Company.  As previously reported, on October 23, 2016 the Company delivered to SPI a formal Notice of Default under which SPI was informed that it was in breach of the supply agreement and had 30 days to cure the breach before the Company would have the right to terminate the supply agreement.