Legend Power® Closes over $500,000 of SmartGATE™ Sales
VANCOUVER, British Columbia, Feb. 13, 2020 (GLOBE NEWSWIRE) — Legend Power® Systems Inc. (TSX.V: LPS) (“Legend Power” or the “Company”), a global leader in onsite energy management technology, today announced $527,521 of sales within Ontario’s Education sector.
Five SmartGATE™ units have been purchased by three different Ontario school boards. One buyer is a repeat purchaser making its first follow-on order having previously purchased one unit as a test and validating the value proposition of reducing green house gas emissions, improving energy efficiency and lowering energy costs. One of the five SmartGATE’s was purchased by a prominent Ontario university, another vertical which values the breadth of efficiency and sustainability benefits that can be delivered by a SmartGATE implementation.“With 74% of all SmartGATE’s being multiple-unit purchases (up to 18) by specific customers, we continue to see proven pilots and initial deployments lead to follow-on orders,” said Legend’s CEO Randy Buchamer. “With the recent announcement of SmartGATE Insights™, our data analytics and metering solution (which analyzes and reports on 132 parameters), interest is only increasing as the world moves toward smarter energy decisions. The combination of SmartGATE Insights™ analytics and the SmartGATE™ platform (which literally “reshapes” electricity coming into a building to what its managers need), reduces energy consumption and greenhouse gas emissions, which is a focus across cities and countries around the world. This capability is especially important in our New York market where the government claims buildings are the cause of 71%1 of the city’s greenhouse gas emissions.”About SmartGATE Insights™ and The SmartGATE™ Platform
Informed by SmartGATE Insights, the SmartGATE platform analyzes the voltage coming into your building, identifying and correcting or mitigating common building power quality challenges. Most importantly, only Legend does it in a compact footprint that fits in a commercial or light-industrial electrical room, and at a much lower cost. And, because of the sophisticated technology involved, unlike large-scale systems that consume as much as 5% more power while they assess, SmartGATE saves that much (or more) while fixing the most important elements of power quality.About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in onsite energy management technology. They help buildings to overcome grid volatility challenges common to utilities around the world. Legend’s industry-proven SmartGATE™ enables dynamic power management of an entire building. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend Power’s unique solution is also a key contributor to both corporate sustainability efforts and the meeting of utility energy efficiency targets.For further information, please contact:Steve Vanry, CFO
+ 1 604 671 9522
email@example.comSean Peasgood, Investor Relations
+ 1 647 503 1054
firstname.lastname@example.orgNeither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking StatementsThis 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._______________1 https://council.nyc.gov/data/green/