Vancouver, B.C., Canada – May 4, 2023 – Legend Power Systems® (TSX-V: LPS) (“Legend Power”), a global leader in commercial electrical system solutions, announced today that it has entered into a distribution agreement with Sparta Group’s Energy division (TSX-V.SAY) (“Sparta”) and its affiliate Encompass Power Solutions. The agreement is intended to expand Sparta’s offering to include Legend Power’s SmartGATE Active Power Management Grid Edge Platform (“SmartGATE™”); expanding Sparta’s industrial presence to include the commercial real estate sector. The combined distribution power creates the opportunity for Legend Power to service hundreds of additional buildings with SmartGATE™, each year, for the foreseeable future.
Sparta Group and its affiliate, Encompass Power Solutions, are leading suppliers of electrical power and control solutions to the industrial market. With the addition of the SmartGATE™ to their existing line up, Sparta can now aggressively expand their reach into the commercial real estate sector; a new market for Sparta. The SmartGATE™ will provide Sparta customers with a reliable and cost-effective solution to improve the performance of their building’s electrical system while reducing maintenance and repair costs.
“We are excited to partner with Sparta Group to bring the SmartGATE Active Power Management Grid Edge Platform to the commercial real estate market,” said Mike Cioce, Vice President of Legend Power Systems. “This partnership will allow us to expand our reach and offer our innovative solution to an even wider audience. Sparta’s expertise in the industrial market, combined with our expertise in the commercial real estate market, will enable us to provide a complete solution to building owners and managers.”
The SmartGATE™ is an industry-leading, turnkey solution that identifies and fixes underperformance and waste in the electrical system of a commercial building. By improving the reliability and lifetime of major building systems such as elevators, HVAC, and lighting, the SmartGATE™ can significantly reduce maintenance and repair costs. In addition, the SmartGATE™ can reduce voltage variations caused by the rapid reduction in power quality due to increased wind and solar use.
“We are thrilled to partner with Legend Power Systems to bring the SmartGATE to the commercial real estate market,” said Dan Slade, Managing Director of Sparta’s Energy division. “We believe that the SmartGATE™’s innovative solution will enable us to provide our customers with a reliable and cost-effective way to improve the performance of their building’s electrical system. With the addition of the SmartGATE™ to our product line, we can now offer a complete solution to both the industrial and commercial real estate markets.”
The agreement with Sparta Group is part of Legend Power Systems’ strategy to expand its distribution network and bring its innovative solution to a wider audience. With the SmartGATE Active Power Management Grid Edge Platform, Legend Power is committed to providing a reliable and cost-effective solution to the challenges facing the commercial real estate market.
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 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.
Sparta Group is leading a green revolution in the business world with advanced technologies that reduce carbon footprint, save money, and enhance public image. Our products solve problems by leveraging Web 3 technologies such as artificial intelligence, blockchain and machine learning to fast-track the transition towards a sustainable future.
With Sparta, businesses can optimize their energy usage, upcycle electronic waste and accelerate health technologies, such as autonomous medicine. Sparta operates with three divisions – Environment, Innovation and Energy. These divisions deliver customized solutions to fit each client’s needs.
Sparta is the only North American company to provide verified high-quality carbon credits to customers through electronic waste processing at its facilities in Toronto, Canada, and Oman (Arabian Peninsula).
Sparta is a publicly traded company listed on the TSX Venture Exchange under the ticker symbol “SAY” (TSX.V: SAY) and (OTC: SCAXF). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
Encompass Power Solutions is a privately held company that is a pioneer in the industry of power quality. They offer an integrated range of power monitoring, power quality analysis, low and medium voltage power correction solutions and services. Their products and solutions give peace of mind, lower cost of ownership, reduce production losses and wastage, all making an impact to lowering the overall energy footprint of the Client.
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:
Jonathan Lansky, Director
+1 416 417 7664
Sean Peasgood, Investor Relations
+ 1 647 503 1054
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.