Vancouver, B.C., Canada – February 16, 2021 – Legend Power® Systems (TSX-V: LPS, OTC: LPSIF), a global leader in commercial electrical system solutions, today announced that the Company is recognized as a top provider of Active Power Management Systems in a recent study published by Emergent Urban Concepts and Integral Energy, with contributions from the Building Electrification Institute.
The whitepaper, Active Power Management at the Grid Edge, offers a comprehensive overview of the challenges, benefits, evaluation and short and long-term recommendations for incorporating Active Power Management (APM) as a part of ESG, Electrification, and Decarbonization strategies for commercial building owners and operators.
The paper points out that as building owners invest to reduce greenhouse gas emissions, energy consumption and comply with increasing requirements, “these investments should be preceded by deploying APM and deep grid edge control. APM is central to large building electrification strategies given its vast potential for reducing emissions and power cost and stabilizing the grid.”
The study continues, “building owners are wholly unaware they face power irregularities leading to reduced energy efficiency and equipment life…(providers) must communicate to building owners the need for implementing APM strategies prior to advancing other energy conservation measures, electrification or building decarbonization efforts at their properties“.
The report goes on to state, “The scope of an APM project, and even other technical ESG initiatives is often determined through the power impact study. A detailed data-driven study is a recommended starting point.” This is the role of Legend Power Systems SmartGATE Insights Assessment Service, which provides the necessary data and interpretation to illuminate these critical areas.
The study concludes with “As building owners and property managers begin prioritizing decarbonization and electrification of heating and cooling systems, APM will continue gaining a presence in large commercial and residential buildings … APM is the keystone of large building electrification and enabler of high levels of grid interactivity. It is not a radical notion to expect APM devices to become as commonplace in large buildings as utility power meters.”
“We are pleased to see such a comprehensive and positive report covering our industry’s critical role in decarbonization and electrification efforts and our leadership position in the Industry,” said Randy Buchamer, CEO of Legend Power Systems. “Emerging as a clear leader in 4 of the 5 categories for such a foundational technology will only further fuel our market acceptance and growth for decades to come.,” continued Mr. Buchamer.
A copy of the “Active Power Management at the Grid Edge” whitepaper can be found on Emergent Urban Concepts website at the following address, https://www.emergentgroup.com/publications.
Legend Power Announces DTC Eligibility
Additionally, Legend Power Sytems is pleased to announce that its common shares (including those traded on the OTCQB) are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC“) in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company’s common shares in the United States over time.
The ability to have Legend’s shares electronically cleared and settled in the United States is far more convenient and helps reduce trading costs. With Legend’s shares now traded electronically, existing investors benefit from greater liquidity over time and execution speeds, while new investors are far less restricted from participating in Legend’s stock.
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
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.