Second Boston Customer Initiates SmartGATE™ Deployment

Second Boston Customer Initiates SmartGATE™ Deployment

VANCOUVER, British Columbia, July 30, 2020 (GLOBE NEWSWIRE) — Legend Power® Systems (TSX-V: LPS), today announced that a second Boston commercial property owner has taken the initial step to deploy Legend’s SmartGATE™ solution. The client, a leading international financial services and insurance firm, will utilize the data analysis and executive decision-making tool, SmartGATE Insights™, in 4 of its buildings. Insights’ real-time data will drive informed business decisions to increase revenue, reduce costs, enhance tenant experiences, and increase net asset value.
“The SmartGATE solution optimizes energy efficiency and reduces greenhouse gases and significantly mitigates the detrimental effects of poor electrical power quality to critical systems, resulting in optimal business results,” said Legend VP Engineering, Mark Petersen. “Executives need accurate and timely information to make important business decisions and SmartGATE provides that information and the appropriate solutions to improve their businesses. Legend continues to evolve our platform from being solely an energy savings offering, to being a critical power analytics and solutions provider.”SmartGATE™ Platform – Real-time Insights to Enhance Building Operations and Reduce CostThe first step in implementing the SmartGATE™ platform across a portfolio of buildings is SmartGATE Insights™, which provides the real-time data and diagnostic information to assist senior leadership in determining portfolio inefficiencies. SmartGATE Insights™ captures thousands of electricity data points which impact efficiency, reliability and life expectancy of systems. Legend then distills the data into intuitive business impacts in its user-friendly Power Impact Report. While based on detailed data and industry-standard power quality measurements, the report also highlights business metrics so key decision-makers can understand the value in correcting these issues to maximize business performance and asset value.From the initial deployment of SmartGATE Insights™ through to full deployment of the SmartGATE platform, building owners are continuously supplied with data and analysis that can drive solutions that enhance tenant experience and safety, increase revenue, reduce costs, and increase net asset value.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
svanry@legendpower.com
Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com
Neither 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.


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