Expansion in Distributors and Sales Builds Upon U.S. Relationships
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2022) - Legend Power® Systems (TSXV: LPS), a global leader in commercial electrical system solutions, announces that 3 Energy Service Companies (ESCOs) for U.S. Federal facilities have written Legend Power's products and services into 3 major deal proposals. If the proposals are approved, Legend's contribution could represent 300 SmartGATE systems.
These proposals build on new milestones in several key areas: Legend recently announced an expanded relationship with the City of New York as part of the City's $4 billion school electrification plan, and earlier this year announced a limited deployment with the USA General Services Administration (GSA) for large scale deployment testing. Furthermore, Legend is pleased to announce the recent sale of a number of systems to direct strategic customers.
"The pipeline and backlog for LPS has never been healthier," said Mike Cioce, Vice President of Sales and Marketing for Legend Power Systems. "ESCOs provide one-stop shopping for U.S. government agencies, vastly simplifying our sales process while reducing our sales cycle and marketing spend. When we look at the GSA program, the progress with DCAS in NYC and the expansion with our ESCO partners, we are well on our way to record bookings."
The Company has multiple channels right now driving results. The GSA program is only one of 3 paths Legend is active with the U.S. Federal Government; our ESCO partners have significant existing relationships and are writing us into large deals, as well, we are working directly with a large military base for up to 80 systems.
This momentum is perfect timing as the Biden administration announced a proposed rule to "electrify and cut emissions from new or newly renovated federal buildings. Beginning in 2025, these facilities will be required to reduce their on-site emissions associated with the energy consumption of the building by 90% … (by) 2030, the standard will fully decarbonize the on-site emissions in new federal buildings and major renovations," according to https://www.energy.gov/articles/biden-harris-administration-announces-steps-electrify-and-cut-emissions-federal-buildings.
"Looking ahead, the timing of the GSA deployment planning process and this major electrification effort for over 300,000 buildings codifies the path to thousands to tens of thousands of SmartGATE systems in the coming years," said Mr. Cioce.
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:
Jonathan Lansky, Director
+1 416 417 7664
Sean Peasgood, Investor Relations
+ 1 647 503 1054
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