VANCOUVER, BC–(Marketwired – October 13, 2016) – Legend Power Systems Inc. (TSX VENTURE: LPS) today announced that it has received a purchase order from a U.S.-based Fortune 500 company to supply a Harmonizer energy saving unit for one of its New York City buildings.
“The North Eastern and Mid-Atlantic territories of the United States are the most important geographic sales regions for success in our growth strategy,” said Randy Buchamer, President and CEO of Legend Power. “With its high concentration of buildings, a progressive real estate community, and abundant incentives for energy efficiency measures, New York City represents the single largest market opportunity in this region. With an estimated market size of $2.3B, we have made New York City our number one priority in the U.S.”
Legend has laid the groundwork for future sales success in New York City by establishing strong relationships with key recommenders (including the dominant utility, Con Edison Power) and one of the largest electrical contractors in the U.S. Both recommenders were instrumental in our first purchase order that we are announcing today.
Legend intends to utilize this sales strategy in other major eastern U.S. metropolitan centres where building owners suffer from high electrical costs but incentives are high enough for them to implement efficiency projects.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the ‘Harmonizer’ that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.
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 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.
For further information, please contact:
Randy Buchamer
Chief Executive Officer and President
+ 1 778 945 1501
rbuchamer@legendpower.com
Steve Vanry, CFA
Chief Financial Officer
+ 1 604 671 9522
svanry@legendpower.com
Sean Peasgood
Investor Relations
+1 416 565 2805
speasgood@sophiccapital.com