Legend Power Systems Inc.

04/15/2019 | Press release | Distributed by Public on 04/15/2019 12:16

Legend Power Announces US$550,000 Follow-on Order from Leading New York Property Manager – SmartGATE™ Systems to be installed at Flagship Manhattan Property of Fortune 100 Tech[...]

Vancouver, Canada, April 15, 2019 - Legend Power Systems Inc. (LPS:TSXV), a global leader in onsite energy management technology, announces that a leading New York property manager has facilitated the follow-on purchase of two SmartGATE™ systems for the New York City building complex of a global Fortune 100 technology company. These new orders follow a successful initial deployment and evaluation of a SmartGATE™ unit installed earlier in the same building.

'We've made very good progress over the last year in developing opportunities in the commercial real estate category in the New York City market and are pleased to see the expansion of our first customer deployment there,' said Legend's CEO Randy Buchamer. 'When a recognized New York City property manager sees a strong financial case and a way to achieve high sustainability standards, we know our value proposition is resonating and our strategy is working.'

Legend's sales team entered the New York market in mid-2018 and announced the first installed unit in July of that year. Since then, Legend has grown its presence in the region and is in discussions with several customers to deploy the SmartGATE™ system across several verticals in the region.

The traction is indicative of the growing trend of New York building owners and managers who are taking advantage of significant incentives to invest in advanced building solutions to reduce energy consumption, greenhouse gas emissions and protect the buildings from present and future grid volatility.

About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in voltage management technology. We help buildings use less energy by eliminating 'overvoltage'; an inherent challenge associated with power grids around the world. Legend's industry-proven SmartGATETM 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
[email protected]

Sean Peasgood, Investor Relations
+ 1 647 503 1054
[email protected]

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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