Legend Power Customer Adds 2 More Systems to the Largest Order in Company History
Legend Power Systems (TSXV:LPS, OTCQB:LPSIF) has secured follow-on orders for two SmartGATE Platforms from a significant Ontario-based commercial property client, raising the total to 19 units. This brings the total units installed at the client's multi-family buildings to 35. The customer's extensive portfolio is valued at $20 billion, encompassing over 600 buildings and 70,000 units. SmartGATE enhances financial performance while meeting ESG goals by addressing energy underperformance, reducing costs, and improving tenant satisfaction.
- Follow-on orders for 2 additional SmartGATE Platforms, increasing total to 19.
- Total installed units at the client's properties rises to 35.
- Client manages a $20 billion portfolio enhancing credibility and potential revenue.
- None.
VANCOUVER, BC / ACCESSWIRE / March 3, 2021 / Legend Power® Systems (TSXV:LPS) and (OTCQB:LPSIF), a global leader in commercial electrical system solutions, today announced follow-on orders for two SmartGATE Platforms by a major Ontario-based commercial property customer that previously ordered 17 units, bringing the total purchase to 19 platforms. These follow-on units will bring the total number of SmartGATE Platforms installed at this customer's multi-family buildings to 35. Additionally, Legend has assessed and proposed the SmartGATE Platform for a portfolio of more than 15 newly acquired properties. The customer owns and manages a
"SmartGATE plays a central role in enhancing this customer's financial performance while attaining its ESG mandates across their building portfolio," said Mike Cioce, Vice President Sales and Marketing. ""As more renewables like wind and solar are added to the electrical grid, power fluctuations will increase and destabilize systems our customer and their tenants depend upon. SmartGATE not only saves them more energy and reduces maintenance costs but also increases the safety and satisfaction of people living in the leading properties."
SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and financial 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 as well. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including adverse tenant experiences.
About SmartGATE
SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and financial 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 as well as 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 adverse tenant experiences.
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
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 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.
SOURCE: Legend Power Systems Inc.
View source version on accesswire.com:
https://www.accesswire.com/633136/Legend-Power-Customer-Adds-2-More-Systems-to-the-Largest-Order-in-Company-History
FAQ
What is the significance of the follow-on orders for Legend Power Systems?
How many SmartGATE Platforms has the Ontario customer ordered in total?
What is the value of the portfolio managed by Legend Power's client?
How does SmartGATE benefit commercial property owners?
What are the implications of this order for Legend Power Systems' stock LPSIF?
