VANCOUVER, BC–(Marketwired – December 06, 2016) – Legend Power Systems Inc. (“Legend”) (TSX VENTURE: LPS) and channel sales partner Haven Consultants International (“Haven”) today announced that the Southeast Regional Correctional Centre in New Brunswick, Canada became the first major prison to install Legend’s Harmonizer as part of its energy savings commitment.
Since installation, the Southeast Regional Correctional Centre has cut its annual power usage by 94,117 kWh resulting in a reduction in greenhouse gas emissions of 17 metric tonnes. The investment is projected to achieve an internal rate of return (IRR) of 24% and payback in under 4-years. Additionally, installation of the Harmonizer did not disrupt Southeast Regional’s operations, an important consideration across several of Legend’s targeted market verticals.
The prison was designed using Leadership in Energy and Environmental design (LEED) standards, thus is already designed to maximize energy efficiency and minimize water use. The selection of Legend’s technology for another high efficiency, LEED certified building is proof of the attractiveness of Legend’s technology and its strong energy savings potential.
The sale to the Southeast Regional Correctional Centre represents entry to a new and significant market vertical for Legend. There are in excess of 5,200 correctional facilities in the United States and Canada with a combined annual operating budget of approximately $77 billion. Correctional facilities are one of thirteen major market verticals in which Legend has established a track record of success.
Legend is working closely with Haven, to develop a strong market-specific adoption of the Harmonizer within individual verticals. Legend and Haven intend to actively pursue other opportunities in the correctional facilities market vertical.
About Haven Consultants International
Haven Consultants International is a leading engineering consultancy firm. Originally operating in the UK, the Company has now established operations in North America to offer its experience in the energy efficiency market. Through many years working at the cutting edge of European efficiency initiatives, Haven Consultants has developed unrivalled experience dealing with some of the world’s more advanced technologies in this field.
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
CEO and President
+ 1 778 945 1501
rbuchamer@legendpower.com
Steve Vanry
CFO
+ 1 604 671 9522
svanry@legendpower.com