Vancouver, Canada, October 5, 2016 – Legend Power Systems Inc. (“Legend”)(TSXV: LPS) and Appleby College today announced that Appleby College of Oakville Ontario, a private school offering curriculums for grade 7 to 12 students, is the 16th school to purchase and deploy Legend’s Harmonizer, energy saving device.
Subsequent to installation, a short-term measurement and verification procedure indicates that the investment by Appleby College will reduce its electricity costs by 3.8% and provide a 29% internal rate of return. At this level of conservation, the school would annually reduce its consumption of electrical energy by over 49,000 kilowatt hours and eliminate 9 metric tons of greenhouse gas emissions.
“One of Appleby College’s core attributes and a fundamental curriculum principle is being globally responsible. We strive to create valuable opportunities for serving people and the planet and hope to inspire a lifelong commitment to civic responsibility, global understanding and environmental stewardship. Thus, the opportunity to deploy Legend’s technology and be leaders by reducing our school’s “environmental footprint” was a perfect fit with our values.”
“The Harmonizer is a proven energy saving device that is easy to implement and by virtue of it’s strong return on investment, allows our school to put funds back into educating students,” said Rob Pyke, Executive Director – Facilities Operations.
There are 141,000 primary and secondary schools in the United States and Canada with a combined annual energy budget of approximately $8.5 billion. Primary and secondary schools represent one of thirteen major market-verticals in which Legend has established a track record of success.
Legend works closely with industry leaders like Appleby College, to develop a strong market-specific adoption of the Harmonizer within individual verticals. Legend is actively pursuing other accounts in this market-vertical.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the ‘Harmonizer’ that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.
For further information, please contact:
Randy Buchamer, CEO and President
+ 1 778 945 1501
Steve Vanry, CFO
+ 1 604 671 9522
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.