Vancouver, B.C., Canada – July 14, 2021 – Legend Power® Systems (TSX-V: LPS and OTCQB: LPSIF), a global leader in commercial electrical system solutions, today announced several key developments with multiple U.S. – based energy service companies (“ESCO”). Legend Power has now established relationships with seven ESCOs with a combined annual ESCO service revenue approaching US$1 billion.
Legend recently completed two SmartGATE™ Platform projects together with a large ESCO for schools in New York State, resulting in an additional 5%+ savings over and above the combined benefits of other energy savings measures already in use at these facilities.
“These impressive savings results are typical for the hundreds of install in educational facilities Legend has undertaken, and our customer is ecstatic with the outcome”, said Mike Cioce, Vice President of Sales and Marketing. “ESCOs are seeking new and effective technologies to differentiate their value proposition and our recent successes are showing that Legend’s SmartGATE™ provides a key to winning more business.”
Additionally, Legend has received SmartGATE Insights™ assessment engagements from four additional major ESCOs in the U.S. Northeast, Southeast and Western regions. SmartGate Insights™ has been a strong sales tool that has enabled building owners and operators to see the savings and benefits of deploying Legend’s flagship SmartGate™ Platform product.
“One of our key initiatives for 2021 has been building channel partners with ESCO’s across North America”, said Randy Buchamer, CEO of Legend Power®. “The results we are seeing across our initial deployments with ESCOs and their end customers is extremely encouraging for future business and further partnerships. We are now scaling the Company to be able to handle the increasing demand we are seeing from these partners and look forward to working with them to improve energy efficiency and power quality for all the customers they serve.”
Legend expects to establish more relationships with U.S. ESCOs, which would provide low-cost/high-leverage geographic reach and strong presence in key U.S. regions. With these partnerships, Legend gets instant access to decades long, trusted relationships in an expanded set of market verticals with little or no marketing, sales or infrastructure costs.
The U.S. ESCO market is forecasted to produce revenues of US$9 billion in 20211 and along with other channel sales is anticipated to play a dominant role in Legend’s future growth trajectory.
Legend Power Sponsors NAESCO Conference
Legend is proud to announce that it is the Platinum Sponsor of the National Association of Energy Service Companies (NAESCO) annual ESCO conference R3 – Renovate, Retrofit and Reduce which will be held during November 2021 in Austin, Texas. R3 is NAESCO’s premier annual event, highlighting opportunities for energy infrastructure improvements and upgrading the nation’s building infrastructure.
“Our partnership with NAESCO is off to a great start. Their leadership position in transforming the nations public sector building infrastructure is advanced by showcasing new best of breed energy conservation measures,” said Mr. Cioce.
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.
1U.S. ESCO Industry: Industry Size and Recent Market Trends – June 2021; Elizabeth Stuart Nichole Hanus Juan Pablo Carvallo Peter Larsen, Principal Investigator; Lawrence Berkeley National Laboratory / U.S. Department of Energy
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