Vancouver, B.C., Canada – July 9, 2020 – Legend Power® Systems (TSX-V: LPS) announces that another major Real Estate Investment Trust (“REIT”) will leverage Legend’s proven technology to aid in proactive executive decision-making supported by timely and accurate information.
By selecting SmartGATE InsightsTM, Legend’s customer will uncover previously undiagnosed underperformance in the electrical systems of its commercial buildings. These performance issues often lead to higher operating costs, lower net operating income and other potential financial risks to the firm including damaged tenant experience. Left undiagnosed, electrical energy challenges are known to negatively impact the overall financial health of commercial building portfolios. Insights gained provide the basis for collaboration with customers to implement solutions that most effectively address their priority needs and concerns.
“With today’s complex and volatile electrical energy environment, executive leaders deal with more uncertainty than ever before. The business impacts however, are entirely manageable utilizing information derived from connected and emerging technology solutions like SmartGATE InsightsTM and SmartGATETM which can significantly impact corporate performance and asset management,” said CEO Randy Buchamer. “With increased compliance concerns, growing ESG expectations and general business performance challenges, our customers and prospects are clear that they need a tool that enables proactive and accurate decision-making.”
Buchamer added, “With the continued acceptance of Legend solutions by major organizations to address their electrical energy challenges, we are optimistic about Legend’s growth prospects in North America.”
The major North American multi-family REIT is working with, and strategically deploying, Legend solutions to identify opportunities to increase the value of their $2 billion+ CRE portfolio. With a successful track record of developing, redeveloping, acquiring, and managing distinctive apartment homes in some of the best markets in the US, the REIT owns or holds 296 apartment communities containing 86,596 apartment homes in 11 states. The REIT has selected from its portfolio, three multi-family buildings located in the city of Boston for evaluation. With Boston’s high utility rates and significant local ESG compliance requirements, the REIT deemed the Boston-based properties to be ideal initial locations to better understand the financial implications of electrical energy impacts across their extensive CRE portfolio.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legend20.wpengine.com) is a global leader in onsite energy management technology. We help buildings overcome grid volatility challenges common to utilities around the world. Legend’s industry-proven SmartGATE™ 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
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