VANCOUVER, BC / ACCESSWIRE / April 7, 2021 / Legend Power Systems® (TSXV:LPS)(OTCQB:LPSIF), a global leader in commercial electrical system solutions, today announced that the City of New York acting through its Department of Citywide Administrative Services ("DCAS") has contracted Legend Power Systems to provide a two system, SmartGATE Platform demonstration in one of its schools. The City of New York owns and operates over 4,500 buildings which in addition to schools, includes other agencies such as Police, Fire, Libraries, Offices, and Museums.
New York City has set a goal of reducing GHG emissions 80% by 2050. As part of the plan for reaching the City's goals, DCAS has identified the benefits of exploring emerging technologies through the Innovative Demonstrations for Energy Adaptability ("IDEA") program, such as Legend's SmartGATE, and has determined that a demonstration project is in the City's best interest. Upon completion of the demonstration and pending validation by a third-party entity, if SmartGATE is deemed a success, then New York City Departments and Agencies may choose to advance contracts with Legend for SmartGATE solutions.
"New York City represents a significant market for Legend Power and DCAS is responsible for thousands of municipal buildings which we expect will benefit from SmartGATE solutions," remarked, Randy Buchamer, President and CEO of Legend Power. "We have invested significant time and resources in developing this opportunity and anticipate a successful demonstration of SmartGATE's capabilities will be a key driver of growth for years to come."
DCAS is the department of the government of New York City responsible for providing shared services to support the operations of city government. This includes managing, leasing, and purchasing city real estate property and other city-owned public buildings, as well as handling energy management for city government. The IDEA program is one of the agency's key energy conservation programs. During 2019 DCAS's procurement arm awarded $US 1.7 billion in new contracts.
About SmartGATE
SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction as well as financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including adverse tenant experiences.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.
For further information, please contact:
Steve Vanry, CFO
+ 1(604) 671-9522
svanry@legendpower.com
Sean Peasgood, Investor Relations
+ 1(647) 503-1054
sean@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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SOURCE: Legend Power Systems Inc.
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