VANCOUVER, British Columbia, April 24, 2019 (GLOBE NEWSWIRE) -- Legend Power Systems Inc. (LPS:TSXV), a global leader in onsite energy management technology, announces that an Ontario-based college has purchased an additional two SmartGATE™ systems for a total $290,445. The college has now purchased a total of 7 SmartGATE systems for a total investment of $890,000 and has fully addressed its campus-wide opportunities for electrical energy management. These new orders follow the initial successful installation and evaluation of 5 SmartGATE units commissioned in the fall of 2018.
With this latest purchase, three Ontario-based colleges have now implemented campus-wide rollouts of SmartGATE technology and are benefitting from meaningful monitoring and management of onsite electrical resources. With 45 college and university campuses across the Province of Ontario and approximately 4,450 throughout the rest of Canada and the U.S., this end-market continues to offer significant future growth potential for Legend Power.
“The education marketplace has historically been a very strong vertical for us in Ontario. While we’re certainly pleased to see activity levels being matched by multi-family, retail and commercial properties, education remains a large opportunity where we expect to generate strong returns for years to come,” said Legend’s CEO Randy Buchamer. “As community leaders, educators were early-adopters of our SmartGATE technology. Then, as now, the combination of the positive economics and environmental leadership both hold appeal to educators. We’re pleased to have their continued support.”
About Legend Power Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in onsite energy management technology. We 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.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.
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