Tue, 24 Nov 2020

Incoming Electrical Power Causes Financial Underperformance and Tenant Safety Issues in One-Third of Commercial Buildings

VANCOUVER, BC / ACCESSWIRE / October 23, 2020 / Legend Power® Systems (TSXV:LPS), a global leader in commercial electrical system solutions, today announced the official launch of its SmartGATE Insights Power Impact Assessment Service. Having discovered chronic financial and operational underperformance in over 1,000 North American commercial buildings due to electrical power challenges, Legend developed a no-risk, non-invasive assessment, custom-designed for commercial building owners. The Power Impact Assessment service can be run on many buildings simultaneously, enabling a portfolio-level view of the impact of incoming power.

Virtually every system in today's modern and complex buildings relies on electricity. With the electrification and decarbonization efforts across North America, the electric grid is under more strain than ever. This stress reduces the stability of the electric supply and decreases the lifetime, uptime and efficiency of building systems.

'Our new SmartGATE Insights Power Impact Assessment Service measures the high impact attributes of electricity and then applies an array of industry-standard calculations to determine what effects they are having on a building. We regularly find that less than optimal electricity coming into buildings can decrease life expectancy of major systems by 20% to 40%, often resulting in early impairment of multi-million dollar systems. This disrupts capital asset cycles by years, costing millions of dollars.' said Mark Petersen, Legend Power's VP Engineering.

'Commercial Real Estate Owners and Operators across office, multifamily, retail, and industrial, rely on their utility to provide stable and consistent electrical power for buildings to perform at optimal financial and operational efficiency,' said Randy Buchamer, CEO of Legend Power Systems. 'After 10-years in the business and having assessed over 1,000 buildings, Legend knows a significant number of them receive poor power quality and suffer from significant underperformance resulting in excess GHG emissions, lower ESG scores, increased expenses, diminished tenant experience and lower net asset value. Our new SmartGATE Insights Service provides building owners with an easy to understand score-card of relative building health, an assessment of the hidden financial and human costs, and finally a custom solution based on Legend's turnkey industry-leading technologies.'

If you are interested in having a Power Impact Assessment conducted on your building to identify potential risks or financial waste due to your incoming electric service, contact Legend Power Systems at www.legendpower.com or via email at info@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 and 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 damaged tenant experience.

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/611894/Legend-Power-Launches-SmartGATE-Insights-Service-to-Assess-the-Health-of-Building-Electrical-Systems

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