Voltage regulator equipment provider Legend Power (
V.LPS,
Stock Forum) is installing its flagship Harmonizer-AVR product in commercial and industrial operations and receiving solid feedback from clients pointing to 8% energy savings.
The company has pointed to a recent installation of their equipment at Kingspan Insulated Panels’ Caledon Ontario location, in which an energy saving of 60,000 kWh was reached, with 11 tons of greenhouse gases eliminated, as being a successful example of what their product can bring as they look to roll into new markets.
Legend installed the equipment in March 2013 in the building’s electrical room, where the voltage is regulated through the Harmonizer AVR, saving the equivalent of 450 standard fluorescent lights over the course of a year.
So confident of their product is the company that early test installations were performed at no up-front cost, with client and supplier sharing in the ensuing energy savings.
The company says, as the Harmonizer-AVR has no moving parts, it will bring savings of up to 8% to the client for many years, with a return on investment after three years and a warranty for the first ten.
In a
Q&A session with Stockhouse earlier this year with chairman Michael Atkinson, the executive said existing key customers include property management companies, big box retailers, grocery stores, “really any medium to large commercial, industrial, government or hospital building that has a large load of electricity.”
That’s borne out through customer case studies, such as at the Richmond B.C. Ikea store, where General Manager Doug McCann claims an 8.7% cost saving, even during summer when air conditioning loads are at their highest, and the Telus World of Science, which boasts “significant savings.”
The former VP of Sustainability at BC Hydro claimed savings of “about 800,000 kWh per year” – enough to power 80 homes.
Led by CEO Randy Buchamer, formerly of the Pattison Group and a past-President of Marathon Oil (
NYSE: MRO,
Stock Forum) , the company is trading close to its 52-week midpoint at $0.05.