VANCOUVER, British Columbia, June 30, 2020 (GLOBE NEWSWIRE) — Legend Power® Systems (TSX-V: LPS), a global leader in onsite energy management technology, announced today that it has completed another SmartGATE installation in its key New York City market. Legend installed the unit at a major, multi-family site in Manhattan for a leading, privately held commercial real-estate company.
“Post the pandemic shutdown, Legend Power is seeing a resurgence in installation and sales activity, especially in our multi-family residential vertical,” said Legend Power Systems CEO Randy Buchamer. “This client is a leader in the U.S. and manages and owns more than 400 buildings across the U.S. with a significant footprint in the New York region. Feedback so far has been positive with initial measured results achieving 102% of expectations. We’re optimistic about future opportunities with this client.”Legend’s SmartGATE installation in the client’s property is part of an upgrade process bringing the building into energy compliance with New York local law number 97, which mandates building operators to achieve certain reductions in greenhouse gas emissions by 2050. With LL’97 being typical of the stringent emissions laws in the country, SmartGATE brings the advantage of not only enhancing electrical efficiency (and thus emissions reductions), but also improving the overall health of every electrical system and core components attached to it. This means key elements like elevators, HVAC and security controls are more reliable, enhancing tenant experience, and overall customer brand. About Legend Power® Systems Inc.Legend Power® Systems Inc. (www.legendpower.com) is a global leader in intelligent power management platforms that optimize building performance. 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
svanry@legendpower.comSean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.comNeither 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 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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