esVolta has agreed to purchase 116 MWh of operational and pipeline contracted utility-scale energy storage projects from Powin Energy Corporation. esVolta is a new partnership launched by long-time energy executive Randolph Mann with Blue Sky Alternative Investments LLC ("Blue Sky") to be a leading developer, owner and operator of utility-scale energy storage projects.

esVolta's initial portfolio totals 116 MWh including operational projects plus contracted pipeline, placing the company among the largest owners of energy storage assets. esVolta's initial operating assets will be in California and Ontario, Canada, and the business will focus on greenfield development and M&A opportunities across North America. The company was launched to capture growth opportunities in the burgeoning energy storage sector, as technology advances increasingly enable storage to cost-effectively meet utilities' needs for peaking capacity, renewables integration, wires capex deferral and ancillary grid services. The esVolta team includes energy professionals with decades of experience in project development, design, financing and execution, with track-records at major utilities and independent power companies. Randolph Mann is founding partner and CEO of esVolta, and he previously served as a Vice President of Development for NRG Energy and Edison Mission Energy where he was responsible for various renewable energy growth initiatives.

esVolta has entered a strategic long-term agreement with Powin Energy under which Powin will be the company's exclusive provider of battery storage systems.

Randolph Mann, President of esVolta, said, "We are excited to announce the launch of our new energy storage business at a time of great growth in the sector. We have received tremendous support from our financial sponsor Blue Sky and our technical partner Powin Energy, and as such we are well-positioned to pursue and execute on the tremendous growth potential in the North American energy storage sector."

Digby Beaumont, Head of US Business for Blue Sky, added, "Blue Sky is pleased to add esVolta to our portfolio of investee companies. We look forward to working with the esVolta team to capitalize on growth opportunities in energy storage, and to drive greater deployment of institutional capital into this important infrastructure sector."

"Powin Energy's business plan has long had the vision of transitioning the company out of the project development business and into being a fully dedicated energy storage systems and services provider," said Geoffrey Brown, President of Powin Energy. "This transaction is the realization of that plan and will enable the company to focus all of its efforts on delivering the best energy storage systems in the industry to project developers. esVolta and Blue Sky's commitment to developing energy storage projects with Powin Energy's products is strong validation of our technology and the top-tier team we've assembled."

esVolta | [email protected]

Blue Sky | www.blueskyfunds.com

Powin Energy | www.powinenergy.com