Legend Power Achieves Continued Sales Growth in Education Market with the Award of Additional Purchase Orders
VANCOUVER, BC--(Marketwired - March 01, 2017) - Legend Power Systems Inc. (TSX VENTURE: LPS), a global leader in voltage reduction and optimization technology, today announced it received purchase orders from an Ontario School Board for the supply and installation of its Harmonizer system in three schools. These contracts represent compound sales growth in a key market vertical for the company.
The Harmonizer is a voltage optimization product that makes buildings better by measuring incoming voltage and reducing it to an optimal level. Electricity Utilities in North America and around the world over-supply voltage to compensate for aging technology and the natural and uncontrollable challenges inherent to supplying power over vast distances. Offering no practical value to any building on the grid, over-voltage is both wasteful and harmful to equipment. Eliminating over-voltage substantially reduces the annual power expense for a building, reduces wear-and-tear on equipment maximizing its useful life, and reduces its carbon footprint making the building more environmentally sustainable. This innovative technology is wholly-owned and patented by Legend Power.
Of the 13 market verticals Legend Power sells to, the education space has been an early adopter of voltage optimization technology. The product has been installed in both public and private institutions including Primary, Secondary, Universities, and Colleges. The commitment to sustainability and environmental stewardship embraced by this market segment, coupled with building and power consumption characteristics well suited to Legend's technology, makes the Harmonizer a natural fit for a broad range of educational institutions.
"We are dedicated to helping schools throughout Ontario benefit from voltage reduction," stated Erik Wolfe, Director of Sales at Legend Power. "Our product is a perfect fit to help them reduce operating costs so that more funds can be applied to educating the next generation and less on wasted power. By reducing total power use throughout the entire building by up to 8%, heating, cooling, and lighting equipment can last longer. It reduces the building's carbon footprint."
In June 2016, the Ontario Ministry of Education announced $1.1 billion in funding over two years to address school repairs and renewal projects. This investment will result in critical improvements to key building components that ensure student safety and improve energy efficiency.
Legend's Harmonizer is now recognized in Ontario's education sector as a reliable and proven energy saving technology. Growing confidence in the market combined with strong government funding is expected to fuel continued sales growth in this sector.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the 'Harmonizer' that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.