Ontario Multi-Family Building Owner Invests in Sustainable Savings Legend Power Closes Orders for $390000
Vancouver, Canada, April 2, 2019 – Legend Power® Systems Inc. (TSXV: LPS), a global leader in onsite energy management technology, announces the purchase of three SmartGATE systems by an apartment building investment company, totalling C$389,974.
The purchase by the apartment building owner, which has been constructing and managing apartment buildings in southern Ontario cities for 60 years, is further indication of the acceptance of the strong dual value-proposition represented by SmartGATE. With a portfolio including more than 80 high-rise residential towers and over 8,900 units, and previous acknowledgment for energy efficiency excellence by Ontario’s Energy Minister for retrofitting over 7,000 units, the company embodies the desire to deliver fiscal prudence and sustainability in a single purchase.
”Legend Power’s technology is a great fit for landlords looking to improve net operating income and drive increased property value across their portfolio” said Legend’s CEO Randy Buchamer. “When a well-established multi-property business sees a strong financial case and a way to achieve high sustainability standards with one purchase, we know our value proposition is resonating. With an estimated total available market for SmartGATE in the North American multi-family rental buildings vertical of US$750 million1, we expect multi-family to become another very productive vertical.”
Additional System Detail
Ontario Offers SmartGATE Landlords Incentives
For more information about our technology or to request an assessment of how much energy Legend Power can save in your building, please visit us on the web at: https://legendpower.com/products/#smartGATE
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.
Legend Renews Engagement with Sophic Capital for Investor Relations
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