Legend Power® Systems Installs 300th SmartGATE™
VANCOUVER, British Columbia, June 25, 2020 (GLOBE NEWSWIRE) — Legend Power® Systems (TSX-V: LPS), announced today that it reached a milestone with the installation of the three hundredth SmartGATE™ platform. Since its launch, the Company has been a leading innovator in the provision of intelligent, electrical power management platforms that optimize both operational and financial performance in commercial buildings.
Highlights of the collective benefits that 300 SmartGATE’s have delivered to customers, and the environment include:Total Systems Installed ─ 304Total Energy Saved (kWh) ─ 110,736,000Total Savings ($’s) ─ $17,717,800Total GHG Reduction (tonnes) ─ 94,790Trouble-free Hours of Operation ─ 2,044,000Having successfully reached three hundred installations in multiple geographic regions has proven the wide acceptance of SmartGATE’s value proposition, but is really only the beginning in terms of penetrating what is conservatively estimated to be a multi-billion-dollar potential North American market.Key to SmartGATE’s success is its versatility to deliver benefits across multiple types of commercial buildings, which include:decreased operating costs, increased revenue and improved net operating incomeimproved tenant experience and occupancyincreased uptime and lifetime of key systems and machinerymaking significant contributions to corporate ESG measures and mandatesLegend’s customers include building owners in Canada and the US, including multi-residential buildings, commercial office towers, hotels, large retail stores, schools, colleges, universities, hospitals, non-profit housing developments, and airports. In addition, Legend’s SmartGATE has become a key product differentiator for Energy Service Companies (ESCO’s) and other value-added resellers competing in the emerging and competitive building energy management industry.“While it’s a milestone for Legend and our team, we really owe our gratitude to our customers who have supported us from the beginning,” said CEO Randy Buchamer. “Whether it was regional utilities who helped us prove the technology early on or visionary early adopters in the Ontario education system, at major Canadian retailers or name brand multi-residential property owners, they all had a role in getting us where we are today. Given that the median number of units per customer is six, the technology is clearly illustrating its value to these early adopters. After a brief slowdown during March, April and May of 2020 we are seeing a return to normal and we anticipate installations of both Insights and SmartGATE to pick up materially in the coming quarters.” SmartGATE™ is continuing to evolve with SmartGATE Insights™ metering and analytics now available as a portable diagnostic service to scope building priorities before installation and continuing to supply detailed power analytics on an ongoing basis post-installation. Per customer requests, Legend is working on finalizing significant enhancements to SmartGATE’s overall capabilities. SmartGATE 2.0 will deliver additional electrical savings, more detailed power quality data and improved ease of installation.About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in intelligent power management platforms that optimize both financial and operational building performance. They help buildings 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’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
firstname.lastname@example.orgSean Peasgood, Investor Relations
+ 1 647 503 1054
email@example.comNeither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Statements
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.