Enhanced Energy Performance Retrofit at Two New York Schools Ready for Optimization and Testing
VANCOUVER, BC / ACCESSWIRE / November 13, 2020 / Legend Power® Systems (TSX-V:LPS) a global leader in commercial electrical system solutions, today announced substantial completion in the first joint project with the U.S. energy services division ("ESCO") of a Fortune 100 Global Corporation. The joint project involves incorporating Legend's SmartGATE to boost the overall performance of two energy retrofits (see press release dated September 23, 2020) which now enters the optimization and testing stage.
Legend's ESCO partner has indicated that SmartGATE is now being included in additional of its project proposals across several U.S. regions as a principal energy savings measure.
Partnering with the largest energy service company performance contractor in the U.S. is an important milestone for Legend Power as it establishes significant new sales channels and revenue streams for the Company. The partnership provides Legend with instant access to decades-long, trusted relationships in an expanded set of market verticals with little or no marketing, sales or infrastructure costs. Legend is in discussions with several of the leading U.S. ESCOs and expects to commence initial projects with several of them during 2021.
About the U.S. ESCO Market
The ESCO market in the U.S. is a US$15 billion a year business that bundles energy conservation measures for large public entities such as government organizations and others. SmartGATE is a patented, unique and differentiated offering, which provides our new partner a significant competitive advantage. These advantages include enhanced energy savings performance, electrical systems reliability and power quality management capabilities which boost our ESCO partner's value proposition and delivers it more sales wins.
About SmartGATE
SmartGATE is an industry-leading, turnkey solution, which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including damaged tenant experience.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.
For further information, please contact:
Steve Vanry, CFO
+ 1 604 671 9522
svanry@legendpower.com
Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com
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
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SOURCE: Legend Power Systems Inc.
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https://www.accesswire.com/616546/Legend-Joint-Project-with-Fortune-100-Global-Corporation-Achieves-Milestones
