Legend Power Closes $237000 Order to North American Multi-Family and Commercial Real Estate Leader; Customers Second Multi-Unit Order
Vancouver, Canada, September 6, 2018 – Legend Power® Systems Inc. (TSX-V: LPS), a global leader in voltage management technology, announces the follow-on purchase of three Harmonizer systems by a multi-family and commercial real estate investment company, totalling C$236,735. This order brings to 6, the number of its 435 multi-family buildings that the customer has outfitted with Legend’s energy-saving solution.
The customer is an investor in, and active manager of, properties in the U.S. and Canada. Its $7 billion portfolio of multi-family properties, includes over 435 buildings totaling approximately 36,000 units. The customer also has a commercial property portfolio of over 50 buildings containing approximately 5.9 million square feet of floor space. Legend estimates the total potential market for its products in the North American multi-family rental buildings vertical at US$750 million1.
”Our technology is a great fit for landlords looking to improve net operating income and drive increased property value across their holdings,” said Legend’s CEO Randy Buchamer. “We expect multi-family to become one of our more productive verticals as we continue to demonstrate a strong value proposition and a way for our customers to achieve high sustainability standards. We’d like to thank our customer for their repeat business.”
About the Three System Deployment
Ontario Offers Harmonizer Landlords Incentives
1 Source: U.S. Department of Housing and Urban Development and U.S. Census Bureau, Rental Housing Finance Survey; Rental apartment properties containing over 50 units at average revenue of C$60k per apartment
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in voltage management technology. We help buildings use less energy by eliminating ‘overvoltage’; an inherent challenge associated with power grids around the world. Legend’s industry-proven HarmonizerTM enables dynamic power-management of an entire building. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend’s unique solution is also a key contributor to both corporate sustainability efforts, and the meeting of utility energy efficiency targets.
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.
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 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.
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