VANCOUVER, British Columbia, July 09, 2020 (GLOBE NEWSWIRE) -- Legend Power® Systems (TSX-V: LPS) announces that another major Real Estate Investment Trust (“REIT”) will leverage Legend’s proven technology to aid in proactive executive decision-making supported by timely and accurate information.
By selecting SmartGATE Insights™, Legend’s customer will uncover previously undiagnosed underperformance in the electrical systems of its commercial buildings. These performance issues often lead to higher operating costs, lower net operating income and other potential financial risks to the firm including damaged tenant experience. Left undiagnosed, electrical energy challenges are known to negatively impact the overall financial health of commercial building portfolios. Insights gained provide the basis for collaboration with customers to implement solutions that most effectively address their priority needs and concerns.
“With today’s complex and volatile electrical energy environment, executive leaders deal with more uncertainty than ever before. The business impacts however, are entirely manageable utilizing information derived from connected and emerging technology solutions like SmartGATE Insights™ and SmartGATE™ which can significantly impact corporate performance and asset management,” said CEO Randy Buchamer. “With increased compliance concerns, growing ESG expectations and general business performance challenges, our customers and prospects are clear that they need a tool that enables proactive and accurate decision-making.”
Buchamer added, “With the continued acceptance of Legend solutions by major organizations to address their electrical energy challenges, we are optimistic about Legend’s growth prospects in North America.”
The major North American multi-family REIT is working with, and strategically deploying, Legend solutions to identify opportunities to increase the value of their $2 billion+ CRE portfolio. With a successful track record of developing, redeveloping, acquiring, and managing distinctive apartment homes in some of the best markets in the US, the REIT owns or holds 296 apartment communities containing 86,596 apartment homes in 11 states. The REIT has selected from its portfolio, three multi-family buildings located in the city of Boston for evaluation. With Boston’s high utility rates and significant local ESG compliance requirements, the REIT deemed the Boston-based properties to be ideal initial locations to better understand the financial implications of electrical energy impacts across their extensive CRE portfolio.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) 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.
Forward-Looking Statements
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 to 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.