Legend Power Systems Channel Partner Orders 5 SmartGATE Systems

Rhea-AI Summary

Legend Power Systems announced 5 new orders for its SmartGATE Platform through a partnership with Haven Consultants International. This order follows Haven's prior engagement of 29 SmartGATE Insights studies, indicating a strong conversion to full platform sales. The SmartGATE Platform enhances building resiliency and is designed to reduce energy costs, providing a significant advantage in operational efficiency. Management expressed optimism regarding the growth of sales pipelines and partner engagement in generating Power Impact Reports.

Positive

• 5 new SmartGATE Platform orders secured through a channel sales partner.
• Strong conversion rate from SmartGATE Insights studies to full platform sales.
• Increased partner engagement leading to quantifiable energy impact reports.

Negative

• None.

Order Follows Recent SmartGATE Insights Engagements

VANCOUVER, BC / ACCESSWIRE / February 24, 2021 / Legend Power® Systems (TSXV:LPS), a global leader in commercial electrical system solutions, today announced 5 new SmartGATE Platform orders through channel sales partner, Haven Consultants International ("Haven"). The order comes shortly after Haven ordered 29 SmartGATE Insights study services in late 2020. With over 20 Insights engagements still in progress, the early conversion to full platform sale results is very promising. This recent order is a testament to the SmartGATE Insights service accelerating SmartGATE Platform sales.

"Legend's SmartGATE Platform is a revolutionary way to enhance a building's resiliency that pays for itself through energy savings," said Michael Parry, President of Haven. "The Power Impact Report, provided as part of an Insights engagement, is critical as it delivers non-technical explanations of the negative financial effects being suffered in single buildings and entire portfolios and how they are solved by the SmartGATE Platform. Having the SmartGATE Platform then mitigate the risks and costs discovered during the Insights engagement while saving energy is game changing. We are still collecting data and presenting the findings for many more buildings in our recent order for 29 Insights engagements we are confident that Haven can solve these previously invisible challenges for our customers leveraging SmartGATE."

"These sales continue to validate our strategy of empowering partners with the ability to generate Power Impact Reports," said Legend Power Systems CEO Randy Buchamer. "For the first time, our partners can quantify energy impact and risk for their customers and make fact-based business cases on how Legend's SmartGATE Platform can mitigate excessive costs, operational risks, and improve tenant satisfaction. We are encouraged by the traction Power Impact Reports have gained across all of our verticals and are optimistic about the growth in our sales pipeline prospects."

To learn more about Legend's SmartGATE Platform, SmartGATE Insights, Power Impact Assessment, reducing operating costs, improving ESG scores and tenant experience, please contact us at: https://legendpower.com.

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 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/631576/Legend-Power-Systems-Channel-Partner-Orders-5-SmartGATE-Systems

FAQ

What recent orders did Legend Power Systems announce for the SmartGATE Platform?

Legend Power Systems announced 5 new orders for the SmartGATE Platform through Haven Consultants International.

How many SmartGATE Insights engagements were ordered prior to the new SmartGATE Platform orders?

Haven Consultants International ordered 29 SmartGATE Insights study services shortly before the new platform orders.

What benefits does the SmartGATE Platform provide according to the press release?

The SmartGATE Platform enhances building resiliency and is designed to reduce energy costs, thus improving operational efficiency.

What does the management of Legend Power Systems say about their sales pipeline?

Management expressed optimism about the growth in their sales pipeline prospects and the traction of Power Impact Reports.