Vancouver, B.C., Canada – Following its recent announcement of significant enhancements to its SmartGATE platform, Legend Power® Systems Inc. (TSX-V: LPS), a global leader in onsite energy management technology, has taken a key next step in finding and minimizing building-specific risk and waste created by the electric grid with the introduction of its SmartGATE Insights technology. It is available as a standalone diagnostic tool to prioritize areas of risk and waste across all buildings owned or operated by a customer. SmartGATE Insights is now built-in to new SmartGATE platforms, and, available as a retrofit to a customer’s existing SmartGATE to serve as the verification engine for energy efficiency and effectiveness. A sophisticated metering and monitoring gateway, the breakthrough system captures in real-time, the major aspects of power quality from each inbound electrical feed. The system’s analytics engine then analyzes them to create a proprietary Power Quality Index (PQI) for client buildings. The PQI illustrates the impact of the known causes of equipment malfunctions, failures and inefficiencies. This includes a minute-by-minute capture of the hundreds of data points necessary to visualize major areas of power quality (voltage sags/swells, phase unbalance and over/under voltage). The reporting shows key metrics in business and technical terms, effectively providing a diagnosis of the electrical “health” and building systems for the entire portfolio. Building owners or managers can see their exposure to avoidable risk and waste in kilowatt hours (kWh), in dollars, uptime and lifetime of key electrical systems, GHG emissions and much more. “The engineering team have dedicated 10 years to making onsite power management technology a practical, viable solution for commercial-level application” said Legend Power Systems VP of Engineering, Mark Petersen. “It needed to deliver on power quality, energy efficiency and sustainability while also being compact, effective, reliable and affordable. I’m proud to say that the combination of SmartGATE Insights and SmartGATE checks all those boxes.” The results from the SmartGATE Insights rollout across a customer’s portfolio of buildings allows Legend to recommend a comprehensive, prioritized risk and waste mitigation plan leveraging the optimal SmartGATE configurations across their buildings. SmartGATE’s combined proprietary intelligence and control technology then manages the ongoing power corrections in real-time, via electronic switching and an extremely efficient auto-transformer. The PQI is available at a dedicated web portal or via download from the web interface. After full deployment, customers can access single building or “Portfolio” views (for multiple buildings) at a single log-in, and download summaries for the past month or year, or view live (real-time/cumulative). SmartGATE Insights is available now and as a result of the initial deployment, it has been installed in 30 customer locations. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations 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 The post Legend Power® Systems Introduces SmartGATE Insights™ appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/35ry7a3
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Vancouver, B.C., Canada – Legend Power® Systems (TSX-V: LPS) a global leader in onsite power management technology, is taking the next step in analyzing and improving building power quality with its next version of the company’s patented SmartGATE technology. Leveraging its energy efficiency expertise and heritage of customer-driven, continuous innovation, Legend is finalizing the release of a significant enhancement to its leading SmartGATE system. The updated product is scheduled for release in stages beginning Nov 15, 2019. Designed as an enterprise solution, the SmartGATE platform addresses the additional major building challenges caused by poor power quality. The enhanced SmartGATE platform will transform commercial building power management by providing a single platform that analyzes the voltage coming into a building, then identifies and corrects or mitigates common building power quality challenges. While building engineering and operations personnel have long been aware of the risks and waste of poor power quality entering unprotected buildings, available solutions were either too large to fit in a commercial building electrical room or too costly. Legend’s breakthrough technology is the only solution with a compact footprint that fits in the electrical room, and at a much lower cost than industrial systems. In addition, because of the sophisticated technology involved, (unlike largescale systems that consume as much as five percent more power while they assess), SmartGATE saves that much, or more, while fixing the most important elements of power quality. “The enhanced SmartGATE platform leads with industry-grade metering and analytics that analyzes 38 power quality parameters, so the system knows exactly what to correct.” said Legend Power CEO Randy Buchamer. “SmartGATE’s combined proprietary intelligence and control technology then manages the actual power corrections in real-time via electronic switching and an extremely efficient auto-transformer. It will be the single biggest transformation to the electrical room in decades.” About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations 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 The post Legend Power® Systems’ Enhanced SmartGATE™ Platform Transforms the Electrical Room appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2NsDD6u The post PyroGenesis Receives $345K Milestone Payment from RISE Energy Technology Center AB appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/32dp7Ui The post PyroGenesis Announces TSXV Approval for Normal Course Issuer Bid appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/342d917 The post PyroGenesis Announces Closing of Small Non-Brokered Private Placement appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/2MGtsL0 PyroGenesis Cancels Previously Disclosed Non-Military Land-Based Waste Treatment System Sale10/18/2019 The post PyroGenesis Cancels Previously Disclosed Non-Military Land-Based Waste Treatment System Sale appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/2Bp3eGm The post PyroGenesis Successfully Completes 900-kW Plasma Torch Site Acceptance Test at RISE Energy Technology Center AB’s Facility appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/2BgH8Wy Vancouver, Canada, October 15, 2019 – Legend Power® Systems Inc. (TSXV: LPS) (“Legend Power” or the “Company”), a global leader in onsite power management technology, is pleased to announce that Mr.Jonathan Lansky has been appointed to the Board of Directors of the Company. Mr. Lansky is an independent investor who completed his undergrad in business at Wilfrid Laurier University in Waterloo in 1993, Chartered Accountant designation in 1994 and Chartered Financial Analyst designation in 2000. Over Mr. Lansky’s career he has worked in investment banking and equity sales for First Marathon, CIBC and most recently, Dundee Securities in Internal Investments. Mr. Lansky’s appointment is subject to approval by the TSX Venture Exchange (the “Exchange“). Chairman of the Board, Mr. Cosimo La Porta, commented “I’m very happy to welcome Mr. Lansky to the Board. He is a significant shareholder and his background and experience will be a great asset for Legend Power.” The Board of Directors of the Company is now comprised of Messrs. Cosimo La Porta, Randy Buchamer, Michael Atkinson, Dave Guebert and Jonathan Lansky. The Company also announces that it has granted stock options to acquire up to 735,000 common shares to certain directors of the Company. Each of the stock options is exercisable for a five-year term expiring on October 15, 2024 at a price of $0.30 per common share. On October 11, 2019, the last day that the Company’s common shares traded prior to the granting of the stock options, the closing trading price of the common shares on the Exchange was $0.18. The options are subject to vesting provisions, with one-sixth vesting six months from the date of grant, and one-sixth vesting and becoming exercisable every six months thereafter. The stock options are non-transferable. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations 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 The post Legend Power® Announces Appointment of New Board Member appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2VQwz6c The post PyroGenesis Announces Final Signature Towards $20M Contract Disclosed Last June; $6.4M Payment Expected Within 2-4 Weeks appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/2ATIMNE OTTAWA, ONTARIO - September 30, 2019 - Thermal Energy International Inc. ("Thermal Energy or the "Company") (TSXV:TMG) (OTC:TMGEF), an innovative cleantech company and global provider of proprietary, energy efficiency and emissions reduction solutions, has announced its financial results for the fiscal year ended May 31, 2019. All figures are in Canadian dollars. Highlights:
"These figures from our latest quarter and fiscal year are a significant marker of the positive impact our strategic growth plan is having on the business." said William Crossland, CEO of Thermal Energy. "Both revenue and gross profit are at all time highs, up 21% and 11% respectively compared to last year. The final quarter of 2019 also proved to be our most successful to date in terms of GEM(TM) Steam Trap revenue, as well as generating record levels of quarterly gross profit and EBITDAS. All of which is reflective of a successful growth strategy that has contributed to the Company's revenue more than tripling since 2015, equivalent to a compound annual growth rate of 33%." "We began the new financial year with a record $14.0 million's worth of confirmed orders with revenue yet to be recognized - 41% higher than the previous year. Now, in September, we have already increased our order backlog by another 30% to $18.2 million." "This growing order backlog is a particularly useful measure of future revenue trajectory. Considering that 70% of last year's order backlog was represented by the single Resolute Forest Products "mega" order (announced December 2017), the Company's ability to not only maintain but actually grow revenue levels beyond the one-time Resolute order showcases the robust nature of our strategy." "Over the last 24 months we have been investing aggressively in all areas of the business including sales, engineering, operations and marketing. We have also been proactive in expanding our geographical footprint to include key markets such as Germany, Poland, Texas and the US Gulf Coast. Furthermore, in June 2018 we acquired Boilerroom Equipment Inc. (BEI). This acquisition not only added new distribution channels but is also an integral part of our objective to become a single point of contact for all our clients' thermal energy efficiency and heat recovery needs." "Investing heavily in the future growth of the business over the last two years has added approximately $1.3 million to operating expenses, which has in turn had a short-term impact on profitability. However, this investment strategy is already delivering results, as evidenced by our growing revenue and order backlog with a diverse range of clients, sectors and territories." "Now, with much of our short to medium term strategic growth initiatives already underway, over the next financial year we'll be seeking to fully optimize the significant investment we have made, maximizing its benefit to further grow revenues, strengthen profit margins and deliver a solid ROI." For additional details see our Fourth Quarter and Fiscal 2019 Financial Summary presentation here: http://www.thermalenergy.com/presentations.html
Fourth Quarter and Fiscal Year 2019 Financial Review: The fourth quarter generated the strongest quarterly GEM(TM) stem trap revenue in the Company's history. It was also the second strongest quarter for total revenue since the Company begin, surpassed only by the final quarter of 2018 when more than half of the Company's total revenue for the quarter was represented by the single Resolute 'mega' order. Yearly revenue was $21.1 million a 21% increase compared to the same period last year. The decrease in gross margin for the full year was the result of a change in product and project mix, the inclusion of the BEI results and lower than anticipated GEM(TM) steam trap revenue for the year. However, the final quarter delivered an increase in gross margin to 58% as a result of strong GEM steam trap revenues. With the majority of our short to medium term strategic growth initiatives already commenced Operating Expenses for the fourth quarter were largely unchanged from the previous year. Operating Expenses for the year totaled $9,439,498. This is compared to $7,732,044 for year prior and is an increase of $ 1,707,454, or 22%. The main increases in Operating Expenses relate to:
Business Outlook and Order Backlog Summary The Company ended the year with an order backlog of $14.0 compared to $9.9 million last year. This means Thermal Energy is starting the new fiscal year 2020 with an order backlog 41% better than last year. By September 30, 2019, the order backlog had increased to a record $18.2 million compared to only $12.7 million at the same time last year. The Company defines its order book as the value of projects for which purchase orders have been received, but have not yet been fully reflected as revenue in the Company's published quarterly financial statements. These include:
In addition to these announced commissions, the Company also received a number of GEM(TM) trap orders. These include two from a leading Petrochemical company totalling $251,000 and one from a textile and fabric mill of over 200 traps with a value of over $176,400. Full financial results including Management's Discussion and Analysis and accompanying notes to the financial statements have been filed and made available on www.SEDAR.com and www.thermalenergy.com/financial-reports.html. |
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