Toronto, Ontario: 9 June 2015
Legend Power Systems Inc., LPS-V (“Legend”) and the YMCA of Greater Toronto (“YMCA”) are pleased to announce the successful completion of a multi-site energy conservation project. Legend’s Harmonizers were installed in six YMCA of Greater Toronto locations, with the measured results exceeding expectations. Finn Projects, the project’s engineering consultant, has verified the achieved annual savings of 600,000kWh – reducing operating costs by over $70,000 per year.
The YMCA is committed to communities that they service; setting a strong example of environmental leadership is an important part of this commitment. The innovative approach taken by YMCA to save energy using Legend’s Harmonizer has reduced their annual Greenhouse Gas emissions by over 100 metric tonnes, creating cleaner, stronger and more sustainable communities.
“At the YMCA of Greater Toronto, we see a healthy future as a green future,” said Alex Versluis, VP Operations, YMCA of Greater Toronto. “With each YMCA we operate, we are continuously making investments in our environmental initiatives to create more sustainable spaces for our community. Cutting our carbon footprint is a big part of that, and we’re excited to continue on with this project.”
This project was completed as an Energy Savings Performance Agreement (“ESPA”), where the YMCA installs Legend’s Harmonizer with no capital cost, while still realizing a portion of the measured annual savings. The achieved financial saving is split between The Toronto Atmospheric Fund and the YMCA over the term of the ESPA Agreement. Without any capital outlay, YMCA has reduced their operating costs and carbon footprint. Finn Projects will provide ongoing savings verification, with the guaranteed results backed by Energi, an energy saving insurance company.
“The success achieved at these six YMCA locations proves the ESPA model is effective and repeatable” says Randy Buchamer, Legend’s President & CEO. “Innovative financial tools, such as the ESPA, help to eliminate some of the barriers businesses face when evaluating an energy conservation retrofit.”
Legend is pleased with the success of the ESPA model and has made it a core financial alternative for our customers and prospects.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is a leading electrical energy conservation company that manufactures and markets a patented device to help commercial and industrial customers achieve significant energy savings through voltage optimization. Legend Power’s Electrical Harmonizer helps companies reduce their electricity bills, maintenance costs, and increases the life of electrical equipment, while contributing to a reduction in greenhouse gas emissions. Legend Power was recognized as the top performing clean tech company on the TSX/V for 2015.
About the YMCA of Greater Toronto
For more than 160 years, the YMCA of Greater Toronto has been providing leadership and working with partners to solve complex social problems to create measurable outcomes that strengthen the social health of our communities. As a charity, the YMCA offers a variety of programs responding to the needs of the community, including education and training, employment and immigrant services, family and youth services, health and fitness programs, child care and camps. Serving the population of the City of Toronto and the regional municipalities of Durham, Peel, York, and Halton plus Dufferin County, last year the YMCA connected with more than 500,000 people across 375 locations. www.ymcagta.org