Business
Legend Power Corporate Update
Legend Power Initiates First Install of NextGen SmartGATE Platform and Maintains Strong Work...
About this update from Legend Power Systems Inc.
[{"type":"text","content":"Legend Power Corporate UpdateLegend Power Initiates First Install of NextGen SmartGATE Platform and Maintains Strong Working Capital to Secure Inventory to Meet DemandVANCOUVER, BC / ACCESSWIRE / December 9, 2021 / Legend Power Systems® (TSXV:LPS) and (OTCQB:LPSIF), a global leader in commercial electrical system solutions, today provided a general corporate update following the Company's recent participation at the U.S. National ESCO Conference. The Company is in active discussions with several potential customers and partners since the show, the first Gen3 systems have shipped, the Company has $10 million of working capital and the supply chain issues the Company was facing have improved.U.S. National ESCO Conference Generating Positive Feedback On November 9-12, 2021, Legend Power participated in the National Association of Energy Service Companies (NAESCO) annual ESCO Conference R3 - Renovate, Retrofit and Reduce, held in Austin Texas. The Company had 41 one-on-one meetings at the conference and is following up with 21 ESCOs and partners that are interested in the SmartGATE solution for their clients. While these discussions are at various levels, the engagement, initial feedback and follow-up conversations about the platform is encouraging. The Company will update investors if and when these discussions convert into meaningful business for Legend Power.\"We had several potential partners, including many of their CEOs, comment that they have been waiting for a provider to address power quality issues affecting their commercial properties and that Legend's SmartGATE platform is the right way to do it\", says Mike Cioce, Vice President of Sales and Marketing for Legend Power. \"The sales team is busy following up post the conference and our confidence in the platform and future demand is higher than ever.\"Mark Petersen, VP of Engineering for Legend Power Systems recently conducted an Active Power Management webinar for the NAESCO organization. The webinar covered significant trends and opportunities for the ESCO industry and was very well attended with over 30 organizations seeking to learn how the SmartGATE platform can add value and revenue to their performance contracting efforts. This event has resulted in multiple new organizations seeking to partner with Legend Power.First Gen3 Units Have Shipped Legend Power is pl...