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
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