Leading North American Property Manager Makes Follow-on Investment in SmartGATE Solutions for Two Additional Buildings of Multi-Family Portfolio
Vancouver, B.C., Canada – September 16, 2020 – Legend Power® Systems (TSX-V: LPS) a global leader in commercial electrical system solutions, today announced follow-on orders from a major Ontario-based commercial property customer, which has now enabled 16 of its multi-family buildings with SmartGATETM. The customer owns and manages a $10+ billion portfolio of North American multi-family properties including 400 buildings with over 40,000 units.
”We are pleased that SmartGATETM plays a central role in helping this customer attain ESG mandates and in enhancing financial performance across their building portfolio”, said Legend CEO, Randy Buchamer. “Legend is experiencing growth in new and existing relationships with North American multi-family building owners seeking a partner that can identify the root causes of electrical inefficiency in their buildings and provide customized solutions. This is a multi-billion-dollar market vertical for which Legend is uniquely positioned as the leader and sole provider of its kind.”
SmartGATETM 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.
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.
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