Vancouver, Canada, April 24, 2019 – Legend Power Systems Inc. (LPS:TSXV), a global leader in onsite energy management technology, announces that an Ontario-based college has purchased an additional two SmartGATE™ systems for a total $290,445. The college has now purchased a total of 7 SmartGATE™ systems for a total investment of $890,000 and has fully addressed its campus-wide opportunities for electrical energy management. These new orders follow the initial successful installation and evaluation of 5 SmartGATE™ units commissioned in the fall of 2018.
With this latest purchase, three Ontario-based colleges have now implemented campus-wide rollouts of SmartGATE™ technology and are benefitting from meaningful monitoring and management of onsite electrical resources. With 45 college and university campuses across the Province of Ontario and approximately 4,450 throughout the rest of Canada and the U.S., this end-market continues to offer significant future growth potential for Legend Power.
“The education marketplace has historically been a very strong vertical for us in Ontario. While we’re certainly pleased to see activity levels being matched by multi-family, retail and commercial properties, education remains a large opportunity where we expect to generate strong returns for years to come,” said Legend’s CEO Randy Buchamer. “As community leaders, educators were early-adopters of our SmartGATE™ technology. Then, as now, the combination of the positive economics and environmental leadership both hold appeal to educators. We’re pleased to have their continued support.”
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in voltage management technology. We help buildings use less energy by eliminating ‘overvoltage’; an inherent challenge associated with power grids around the world. Legend’s industry-proven SmartGATETM enables dynamic power-management of an entire building. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend’s unique solution is also a key contributor to both corporate sustainability efforts, and the meeting of utility energy efficiency targets.
For further information, please contact:
Steve Vanry, CFO
+ 1 604 671 9522
Sean Peasgood, Investor Relations
+ 1 647 503 1054
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.