Legend Power Systems Inc. (Legend) announced today, February 1, 2004, that it has further developed its market potential and reach through the signing of Cooperation Agreements with three new North American energy related companies:
1) J.H. Electric of New York, Inc. (J.H. Electric) is a Local 3 and Local 25 contractor in good standing that has been doing significant projects in the New York City area for over 25 years, and is bonded for US$26,000,000 for single projects. J.H. Electric is also licensed in the Counties of Nassau, Suffolk, Dutchess, and Westchester in the state of New York; and in the states of Connecticut, New Jersey, Maryland, Virginia, North Carolina, Georgia and Florida.
J.H. Electric is one of the most reasonably and competitively priced electrical contractors in this market area, and we are pleased to be working with them to introduce the Electrical Harmonizer™ energy saving technology into the East Coast of the United States, beginning initially with the New York market area.
Due to the huge potential market for Electrical Harmonizer technology in this market area, the concerns over this region’s ever growing total electrical consumption and the recent concerns with the need for upgrading the transmission system in this entire eastern region of the US to be able to supply this ever growing demand for power, the timing of entry into this market for the Electrical Harmonizer™ could not be better.
2) Mott Electric Ltd. (Mott) is a full service electrical contractor that has supplied dependable electrical installations for industrial, institutional and commercial customers in western Canada, since 1930.
Mott’s project managers and estimators are Canadian Construction Gold Seal Certified, and the company is a leader in electrical contracting and service in the province of British Columbia. Mott’s experience and competence in the field of electrical contracting provides strong customer confidence, and it is this well established market presence and reputation that makes Legend Power have great confidence in their representing the Electrical Harmonizer™ in western Canada and to their many qualifying customers.
3) Advantage Energy Management Inc. (Advantage Energy) is a Canadian based company with extensive end-user solution experience in the field of energy resource management. Originally established in 1994 to provide Canadian energy conservation technology and alternative thermal solutions to the building industries in Asia, Advantage Energy has successfully completed installations here in Canada and Asia, in many commercial and industrial facilities.
Through their established network of associates across Canada, Advantage Energy will work with companies and government agencies to improve the latter’s environment and provide significant financial savings opportunities through energy use and maintenance cost reductions.
Ms. Raina Herrick, President and owner of J.H. Electric said: “J.H. Electric has done electrical work for a large number of significant customers, with whom we maintain a strong reputation. We are actively introducing Legend Power’s unique and innovative new Electrical Harmonizer™ power quality management device to our customers to assist them in improving their power quality, reduce electrical bills and reduce their maintenance costs on motors, lighting and other related electrical equipment. This device allows us to address the entire facility load.
“We have found no other direct competition for this device in the market. This region of the country has been plagued with blackouts, brownouts, high power costs, huge electrical demand and short supply. We pride ourselves in being an innovator through being the first company to bring such a significant new innovation and customer solution in the energy conservation field to this eastern market region, to address our customer’s needs. We feel that we would be negligent if we did not bring such a strong opportunity to create savings forward to our customers. We have been encouraged by the success that Legend and their representatives are having out in the western parts of the US and Canada, and anticipate strong customer enthusiasm for this technology here in New York City, New York state and the eastern states in which we actively carry out our business.”
Mr. Peter Jeffrey, Legend’s C.O.O., stated that: “Our team at Legend Power is very pleased to be expanding our market reach through the signing of these Cooperation Agreements with such a fine and diverse group of electrical companies. We now have representatives in Washington state, California, Hawaii, Las Vegas, Reno, Alaska, New York, New Jersey, and throughout western Canada. Our marketing approach is to use the customer relationships that these fine electrical contractors and energy service companies have developed over the years to help sell our Electrical Harmonizers™ through assisting their customers to greatly improve their power quality and significantly reduce their total facility electrical consumption and maintenance costs.
“As the knowledge of this innovative product continues to spread with each successful new installation, we are now generating excitement within the Energy Service and Electrical Contracting industries in North America. This is allowing us to develop an ever expanding network of reputable associates to represent our Electrical Harmonizer™ to qualifying customers within their market areas. We will work closely with each new associate firm to have them rapidly acquire all our developed expertise related to code issues, installation methods and many related areas. As well, our technical round table discussions with our associates will keep them all up to speed with the new developments and innovations as we move forward together.”
Legend Power Systems is the sole distributor in North America of the Electrical Harmonizer™. This is a proven and patented technology originally developed and tested in Japan. The Electrical Harmonizer™ is connected to the total facility electrical load at its source. The Electrical Harmonizer™ is ideal for any commercial business or institutional facility that operates longer hours and has large lighting or office equipment requirements.
With the installation of Legend’s Electrical Harmonizer™ it is possible to save up to 15% on a company’s electricity bills. In addition, the Electrical Harmonizer™ will extend the life of electrical equipment, improve the quality of electric power by optimizing voltage, improve power factor and reduce harmonics and phase voltage imbalance. The Electrical Harmonizer™ will also reduce motor operating temperatures, kilowatt demand, and maintenance costs for electric lighting, motors and electronic equipment.
For further information, please contact Mr. Les Fowler, Manager, Investor Relations, at 604-913-8158.
On Behalf of the Board of Directors,
Gerry Gill, Chairman & Chief Executive Officer