Wed, 03 Mar 2021

Largest Order in Company's History from Existing Customer With $20 Billion of Assets Under Management

VANCOUVER, BC / ACCESSWIRE / January 19, 2021 / Legend Power® Systems (TSXV:LPS) and (OTCQB:LPSIF), a global leader in commercial electrical system solutions, today announced follow-on orders for 17 SmartGATE Platforms from a major Ontario-based commercial property customer. These follow-on units will bring the total number of SmartGATE Platforms installed at this customer's multi-family buildings to 33. The customer owns and manages a $20 billion portfolio of North American multi-family properties, including 600 buildings with over 70,000 units.

'SmartGATE plays a central role in helping this customer enhance financial performance across their building portfolio, while attaining its ESG mandates', said Legend CEO Randy Buchamer. 'Legend is experiencing growth in new and existing relationships with North American multi-family building owners that want to minimize electrical inefficiencies in their buildings. Multi-family is a multi-billion-dollar market vertical for which Legend is uniquely positioned as the leader and sole provider of these types of customized solutions.'

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 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 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/624771/Legend-Power-Receives-126-Million-Order-from-North-American-Property-Manager-for-17-SmartGATE-Platforms

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