Vancouver, B.C., Canada – April 7, 2021 – Legend Power® Systems (TSX-V: LPS and OTCQB: LPSIF), a global leader in commercial electrical system solutions, today announced that the City of New York acting through its Department of Citywide Administrative Services (“DCAS”) has contracted Legend Power® Systems to provide a two system, SmartGATE™ Platform demonstration in one of its schools. The City of New York owns and operates over 4,500 buildings which in addition to schools, include other agencies such as Police, Fire, Libraries, Offices, and Museums.
New York City has set a goal of reducing GHG emissions by 80% by 2050. As part of the plan for reaching the City’s goals, DCAS has identified the benefits of exploring emerging technologies through the Innovative Demonstrations for Energy Adaptability (“IDEA”) program, such as Legend’s SmartGATE™, and has determined that a demonstration project is in the City’s best interest. Upon completion of the demonstration and pending validation by a third-party entity, if SmartGATE™ is deemed a success, then New York City Departments and Agencies may choose to advance contracts with Legend for SmartGATE solutions.
“New York City represents a significant market for Legend Power® and DCAS is responsible for thousands of municipal buildings which we expect will benefit from SmartGATE™ solutions,” remarked, Randy Buchamer, President and CEO of Legend Power®. “We have invested significant time and resources in developing this opportunity and anticipate a successful demonstration of SmartGATE’s capabilities will be a key driver of growth for years to come.”
DCAS is the department of the government of New York City responsible for providing shared services to support the operations of the city government. This includes managing, leasing, and purchasing city real estate property and other city-owned public buildings, as well as handling energy management for the city government. The IDEA program is one of the agency’s key energy conservation programs. In 2019 DCAS’s procurement arm awarded $US 1.7 billion in new contracts.
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.
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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