Defence Sector is a Net-New Market Vertical for Legend
VANCOUVER, BC / ACCESSWIRE / May 18, 2021 / Legend Power Systems® (TSXV:LPS) and (OTCQB:LPSIF), a global leader in commercial electrical system solutions, today announced that in a joint project with one of its ESCO partners it will provide SmartGATE Insights services and project scoping for select defence installations in the eastern U.S. This particular eastern region segment of defence facilities includes approximately 1200 buildings. The Department of Defence (DoD) manages nearly 300,000 buildings many of which are subject to Federal energy management requirements including energy efficiency targets, renewable energy use goals, and fossil fuel reductions1. In FY 2006, the DoD used almost 30,000 gigawatt hours (GWH) of electricity, at a cost of almost $2.2 billion1.
As producers of large volumes of greenhouse gases (GHGs), the Department of Defence is committed to understand the impact their facilities could have on climate change. In FY2017, the Army alone, awarded $289.3 million in Energy Savings Performance Contracts and Utility Energy Service Contracts estimated to save 1,132 billion Btu annually1. Legend and its ESCO partner are working with the DoD and its Energy and Environmental Sustainability managers to monitor, report, and introduce solutions to reduce its GHG emissions.
"DoD facilities are extremely energy intensive facilities and are a critical component of U.S. national security," said Michael Cioce, Vice President of Sales and Marketing for Legend Power Systems. "The need for electrical reliability and resiliency is fundamental to these facilities along with the opportunity to increase efficiency. SmartGATE addresses these core challenges and SmartGATE Insights is the first step in quantifying and understanding the unseen impacts of the grid on commercial buildings. Our ESCO Partners have deep experience in Performance Contract with the DoD and other Federal entities in general. Combining our SmartGATE and Insights solutions with the ESCO's capabilities is a very powerful approach for all parties involved,"
Legend's SmartGATE Insights and Power Impact Report are valuable tools that demonstrate the financial impact the power grid has on buildings and how SmartGATE solutions can solve these issues, improving buildings' financial performance and environmental footprint. This allows building owners to make more decisions faster than ever before based on the real-time data for each property.
1 https://fas.org/sgp/crs/natsec/R45832.pdf
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. (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.
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SOURCE: Legend Power Systems Inc.
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