Vancouver, B.C., Canada – September 23, 2020 – Legend Power® Systems (TSX-V: LPS) a global leader in commercial electrical system solutions, today announced the U.S. energy services division (“ESCO”) of a premier international Fortune 100 corporation has purchased two SmartGATE platforms for a New York school district customer. Partnering with the largest energy service company performance contractor in the U.S., is an important milestone as it establishes significant new sales channels and revenue streams for Legend Power.
“After years of investment, we are pleased to announce our first partnership with a leading ESCO,” said Legend Power CEO, Randy Buchamer. “With over 300 units now deployed across North America, delivering financial as well as operational benefits to our customers, it was only a matter of time before ESCOs discovered the value of and opportunity in SmartGATE. We anticipate this to be the first of many relationships with U.S. ESCOs which will provide Legend with low cost / high leverage geographic reach and strong presence in key U.S. regions. Legend gets instant access to decades long, trusted relationships in an expanded set of market verticals with little or no marketing, sales or infrastructure costs. I am excited about the opportunity these partnerships can bring which should quickly help us scale the business in existing as well as new regions.”
The ESCO market in the U.S. is a US$15 billion a year business that bundles energy conservation measures for large public entities such as government organizations and others. SmartGATE is a patented, unique and differentiated offering, which provides our new partner a significant competitive advantage. These advantages include enhanced energy savings performance, electrical systems reliability and power quality management capabilities which boost our ESCO partner’s value proposition and delivers it more sales wins.
SmartGATE is an industry-leading, turnkey solution, which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including damaged tenant experience.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend’s proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.
For further information, please contact:
Steve Vanry, CFO
+ 1 604 671 9522
Sean Peasgood, Investor Relations
+ 1 647 503 1054
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