Legend Power Signs Two New Distribution Partners in Northeastern U.S 5 Distributors Signed Since Mid-January 2018
Vancouver, Canada, February 28, 2018 – Legend Power Systems Inc. (TSXV: LPS), a global leader in voltage reduction and management technology, today announced the signing of its fourth and fifth distribution partners in New York City. Members of Legend’s Distribution Partner Program work in tandem with the Company’s local sales team to promote and sell Harmonizer systems to their trusted network of customers.
The addition of Greenwich Energy Solutions and Iconoclast Advisors increases Legend’s network to five distributors in the Northeastern US. On February 5, 2018, Legend announced JPF Consulting and DVM Industries as the second and third distributors to join the Partner Program. When combined with ES Partners, announced on January 19, 2018, Legend’s US distributor network has expanded quickly in a 2-month timeframe.
“The rate at which our team has signed new distribution partners is impressive,” said Randy Buchamer, President and CEO of Legend Power. “As a new entrant to this highly lucrative region, we are careful with whom we choose to partner with. Each company goes through a multi-stage vetting process to ensure they are in the efficiency space, promote and sell green technology, and have a customer-base that complements both Legend’s needs and the other members of the network. The high rate of partner enrollment is congruent with the customer-level interest we’ve seen to date when presenting our technology to building owners and operators.”
Distributors in the Legend Partner Program have customer relationships spanning multiple market verticals including multi-unit residential, government, and property management. Areas of operation include the tri-state area of New York, New Jersey, and Connecticut. Early-stage data from buildings evaluated by Legend indicates a significant and pervasively negative overvoltage condition in New York City. Buildings throughout Manhattan and the greater New York area are plagued with voltage issues that can be corrected by Legend’s proprietary technology. Legend will work independently and in concert with its distribution network to rapidly address buildings suffering from overvoltage.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution 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. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange.
For further information, please contact:
Randy Buchamer, CEO and President
+ 1 778 945 1501
Sean Peasgood, Investor Relations
+ 1 416 565 2805
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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