Vancouver, B.C., Canada – March 3, 2021 – Legend Power® Systems (TSX-V: LPS and OTCQB: LPSIF), a global leader in commercial electrical system solutions, today announced follow-on orders for two SmartGATE™ Platforms by a major Ontario-based commercial property customer that previously ordered 17 units, bringing the total purchase to 19 platforms. These follow-on units will bring the total number of SmartGATE™ Platforms installed at this customer’s multi-family buildings to 35. Additionally, Legend has assessed and proposed the SmartGATE™ Platform for a portfolio of more than 15 newly acquired properties. The customer owns and manages a $20 billion portfolio of North American multi-family properties, including 600 buildings with over 70,000 units.
”SmartGATE™ plays a central role in enhancing this customer’s financial performance while attaining its ESG mandates across their building portfolio,” said Mike Cioce, Vice President of Sales and Marketing. “As more renewables like wind and solar are added to the electrical grid, power fluctuations will increase and destabilize systems our customer and their tenants depend upon. SmartGATE™ not only saves them more energy and reduces maintenance costs but also increases the safety and satisfaction of people living in the leading properties.”
SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and financial 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 as well as 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 adverse tenant experiences.
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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