VANCOUVER, British Columbia, Nov. 07, 2019 (GLOBE NEWSWIRE) — Legend Power® Systems (TSX-V: LPS) a global leader in onsite power management technology, is taking the next step in analyzing and improving building power quality with its next version of the company’s patented SmartGATE™ technology. Leveraging its energy efficiency expertise and heritage of customer-driven, continuous innovation, Legend is finalizing the release of a significant enhancement to its leading SmartGATE system. The updated product is scheduled for release in stages beginning Nov 15, 2019.
Designed as an enterprise solution, the SmartGATE platform addresses the additional major building challenges caused by poor power quality. The enhanced SmartGATE platform will transform commercial building power management by providing a single platform that analyzes the voltage coming into a building, then identifies and corrects or mitigates common building power quality challenges. While building engineering and operations personnel have long been aware of the risks and waste of poor power quality entering unprotected buildings, available solutions were either too large to fit in a commercial building electrical room or too costly. Legend’s breakthrough technology is the only solution with a compact footprint that fits in the electrical room, and at a much lower cost than industrial systems. In addition, because of the sophisticated technology involved, (unlike large-scale systems that consume as much as five percent more power while they assess), SmartGATE saves that much, or more, while fixing the most important elements of power quality.“The enhanced SmartGATE platform leads with industry-grade metering and analytics that analyzes 38 power quality parameters, so the system knows exactly what to correct.” said Legend Power CEO Randy Buchamer. “SmartGATE’s combined proprietary intelligence and control technology then manages the actual power corrections in real-time via electronic switching and an extremely efficient auto-transformer. It will be the single biggest transformation to the electrical room in decades.”About Legend Power® Systems Inc.Legend Power® Systems Inc. (www.legendpower.com) is a global leader in onsite power management technology. 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
[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.Forward-Looking StatementsThis 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.
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