Vancouver, B.C., Canada – August 5, 2021 – Legend Power Systems® (TSX-V: LPS and OTCQB: LPSIF), a global leader in commercial electrical system solutions, today announced several key milestones with new channel distribution partners.
First, Legend has entered an agreement with a leading provider of private label energy efficiency solutions in a program to resell SmartGATE Platform and SmartGATE Insights. This provider serves several large utilities across the US by offering compelling energy efficiency technology subscriptions to their rate-paying customers. These offerings include turnkey subscriptions for energy savings infrastructure (HVAC, lighting, electrical, and more) directly through the utility provider. “This top-tier provider knows first hand how unstable power can increase maintenance and repair costs – it is literally their business!”, says Mike Cioce, VP of Sales and Marketing for Legend Power Systems. “They have customers across the country that are experiencing reliability issues with recently installed systems due to unstable electricity. So, not only can Legend save them more energy, but we can optimize the performance of these new critical building systems.”
Additionally, Legend has engaged in a meaningful way with another division of one of its existing ESCO partners. This new division generates 3x the revenue of the ESCO performance contracting group which Legend has been working with. “Not only does this expanded relationship offer a dramatic increase in distribution capabilities for Legend, but this partner also has a nationwide network of electrical installation capabilities which could prove to be a new market enabler for team Legend”, continued Cioce.
SmartGATE™ is an industry-leading Active Power Management Platform that identifies and fixes underperformance and waste in the electrical system of a commercial building inherent in its incoming grid connection. These performance issues often impact key areas of commercial real estate metrics, including occupant safety and satisfaction as well as financial performance and ESG leadership. This waste can also lead to higher operating costs, higher GHG emissions, 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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