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Legend Joint Project with Fortune 100 Global Corporation Achieves Milestones
Enhanced Energy Performance Retrofit at Two New York Schools Ready for Optimization and Test...
About this update from Legend Power Systems Inc.
[{"type":"text","content":"Legend Joint Project with Fortune 100 Global Corporation Achieves MilestonesEnhanced Energy Performance Retrofit at Two New York Schools Ready for Optimization and Testing VANCOUVER, BC / ACCESSWIRE / November 13, 2020 / Legend Power® Systems (TSX-V:LPS) a global leader in commercial electrical system solutions, today announced substantial completion in the first joint project with the U.S. energy services division (\"ESCO\") of a Fortune 100 Global Corporation. The joint project involves incorporating Legend's SmartGATE to boost the overall performance of two energy retrofits (see press release dated September 23, 2020) which now enters the optimization and testing stage.Legend's ESCO partner has indicated that SmartGATE is now being included in additional of its project proposals across several U.S. regions as a principal energy savings measure.Partnering with the largest energy service company performance contractor in the U.S. is an important milestone for Legend Power as it establishes significant new sales channels and revenue streams for the Company. The partnership provides Legend with instant access to decades-long, trusted relationships in an expanded set of market verticals with little or no marketing, sales or infrastructure costs. Legend is in discussions with several of the leading U.S. ESCOs and expects to commence initial projects with several of them during 2021.About the U.S. ESCO Market The ESCO market in the U.S. is a US$15 billion a year business that bundles energy conservation measures for large public entities such as government organizations and others. SmartGATE is a patented, unique and differentiated offering, which provides our new partner a significant competitive advantage. These advantages include enhanced energy savings performance, electrical systems reliability and power quality management capabilities which boost our ESCO partner's value proposition and delivers it more sales wins.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 and financial performance. This waste can also lead to higher operating costs, lower net operating income and other p...