LPS Legend Power Systems Inc

Legend Power® Systems (TSX-V: LPS), a global leader in onsite energy management technology, announced today that it has completed another SmartGATE installation in its key New York City market. Legend installed the unit at a major, multi-family site in Manhattan for a leading, privately held commercial real-estate company. 

“Post the pandemic shutdown, Legend Power is seeing a resurgence in installation and sales activity, especially in our multi-family residential vertical,” said Legend Power Systems CEO Randy Buchamer. “This client is a leader in the U.S. and manages and owns more than 400 buildings across the U.S. with a significant footprint in the New York region. Feedback so far has been positive with initial measured results achieving 102% of expectations. We’re optimistic about future opportunities with this client.”

Legend’s SmartGATE installation in the client’s property is part of an upgrade process bringing the building into energy compliance with New York local law number 97, which mandates building operators to achieve certain reductions in greenhouse gas emissions by 2050. With LL’97 being typical of the stringent emissions laws in the country, SmartGATE brings the advantage of not only enhancing electrical efficiency (and thus emissions reductions), but also improving the overall health of every electrical system and core components attached to it. This means key elements like elevators, HVAC and security controls are more reliable, enhancing tenant experience, and overall customer brand.      

About Legend Power® Systems Inc.

Legend Power® Systems Inc. (www.legendpower.com) is a global leader in intelligent power management platforms that optimize building performance. They help buildings overcome grid volatility challenges common to utilities around the world. Legend’s industry proven SmartGATE™ 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+ 1 604 671 9522svanry@legendpower.com

Sean Peasgood, Investor Relations+ 1 647 503 1054sean@sophiccapital.com

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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