Note: This article was originally published in Green Technology Report.
By Jonathan T. Orr
Friday, May 14, 2010
When Green Technology Report last talked to Gerry Gill CEO of Legend Power (TSX.V: LPS, FSE: XLE) he spoke confidently not only of the good their proprietary smart grid technology can do for the environment by enabling commercial facilities to minimize carbon footprints by reducing electricity usage by up to 10 percent, but also about the momentum that Legend Power was building selling the technology directly to large retailers in Canada.
Well with Legend Power’s recent announcement of an agreement with one of Canada’s largest distributors and retailers of hardware, renovations and gardening supplies, to install its first Electrical Harmonizer-AVR in one of its Toronto outlets, that confidence has proven to be well founded.
This significant agreement demonstrates clearly that this retailer’s commitment to sustainability has led them to choose Legend Power’s smart grid technology to reduce its annual energy costs and greenhouse gas emissions, now rather than in some distant future. The potential for further sales for Legend Power is huge as the retailer has 700 corporate, franchises and affiliates stores, and will be evaluating additional stores for implementation of the Electrical Harmonizer-AVR.
Gill stated, “This is the result of having a product with proven energy saving results as well as the strength of our marketing team. We now have 21 facility audits scheduled with a further 14 proposals out and the potential for forty to fifty other facilities in Ontario. Then we’re looking at California and its million plus buildings”.
The opportunity for Legend Power to capitalize on this momentum is made even more likely by the fact that the Ontario Power Authority has increased its conservation incentive funding for the entire province for technologies such as Legend Power’s Electrical Harmonizer-AVR, which will triple the companies incentive funding and addressable market size outside metro Toronto.
While many green technology companies struggle to convince businesses of the practicality of their products or to demonstrate clear savings to companies, Legend Power continues to power forward and now has a full pipeline of sales about to pour forth in Canada and beyond. Based on the fact that this announcement is precisely what the company told us they would accomplish when we last wrote about them we think clean tech minded investors that admire results will want to ride this momentum with them.
Electricity Savings Now
While climate legislation and green energy policies remain stalled throughout the world, Legend Power provides a solution that will make practical sense to anyone: with it’s patented technology they can reduce a company’s energy costs by simply optimizing voltage use. With Legend Power’s smart grid system companies need not go through lengthy government consultations or costly environmental evaluations, they can save money today and reduce stress on the broader electricity grid while doing it.
For environmentally concerned consumers, green focused CEOs, and clean tech investors, deciding upon the best possible solutions to our dilemma of ever increasing GHG gas emissions can promote paralysis. So rather than generate more statistical smog or elucidating more convoluted theories, lets just sum up what Legend Power can offer.
- Up to 10% savings on electricity with improved efficiency
- A free facility audit
- A direct reduction in electricity grid usage
- A clear and concurrent reduction in C02 emissions
- No lengthy government consultations or environmental assessments
Gill was clear about LPS’ sales potential for other large retailers “We have a great answer to the question that any CEO would ask. How can you help us? We can help you by saving you money right now, not in the future and by reducing your corporation’s carbon footprint in one the world’s most environmentally aware countries. We can do this for you today.”
How It Works
The Electrical Harmonizer-AVR uses a transformer with a set of taps to set the degree of voltage optimization for the incoming power supply. The AVR component enables the taps to automatically change, under load, in response to fluctuations of the power grid. By optimizing the voltage level the Electrical Harmonizer-AVR allows customers to reduce energy consumption, peak demand, greenhouse gas emissions and maintenance costs while improving overall power quality issues.
The fundamental concept underlying Legend Power’s technology is based on “Conservation Voltage Regulation” (CVR) or Voltage Optimization. Simply put, the patented Electrical Harmonizer-AVR allows you to make best use of your electricity by giving you voltage when you need it and by limiting it when you don’t. Unbeknownst to many companies, they are frequently paying for electricity that they are not using as well as operating machinery and lights at its highest capacity and prematurely wearing them out.
Proof Is In The Power Savings
Many companies promising these kinds of energy savings and emissions reductions simply state that this is the case and ask you to rely on their expertise without being able to prove it. Legend Power’s Electrical Harmonizer-AVR results have been proven to reduce electricity consumption by 7% to 10% and have been independently verified by no other authority than BC Hydro. But you don’t have to take BC Hydro’s word because LPS will provide your company with a free energy use audit. This process includes a review of your energy billing, a walkthrough of your facility, a simulation of the Electrical Harmonizer-AVR technology and an in-depth presentation of the results.
This sale to such a large Canadian retailer is a clear testament to the attractiveness of Legend Power’s technology for clients who want to effectively and economically achieve substantial energy savings, while reducing their carbon footprint “. But LPS don’t intend to stop at Canada’s borders.
As Leonard Cohen might have put it for Legend ‘Once we take Ontario, then we take California’. Mr. Gill pointed out that “California is the world’s 8th biggest economy with a million buildings and some of the highest utility rates in the country. It holds massive potential for a company like us and we intend to make it our next field of expansion”
Legend Power is on the cusp of major sales in Ontario with a focused and aggressive Canadian and North American expansion plan. At this rate it’s starting to look as though Legend Power are living up to their name as we predicated when we first wrote about them on GTR and bold investors will want to be part of the story.
Follow the company’s progress at: http://www.legendpower.com/
DISCLOSURE: A fee has been paid for the production and distribution of this article and as such should be viewed in the context of advertising.