/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
BURNABY, BC, July 8 /CNW/ - Legend Power Systems Inc. (TSX.V: LPS)
("Legend Power" or "the Company") announces the full launch of its commercial
energy conservation device, after 22 successful trials with prominent BC-based
companies delivered over $1 million of cost savings and reductions of over
10,000 tonnes of greenhouse gas emissions. Users include BC Hydro, Ikea,
Canada Post and Science World.
Legend Power's proprietary technology reduces energy costs, peak demand,
consumption and greenhouse gas emissions through 'voltage optimization.'
Customers benefit from seven to ten per cent savings in electricity bills,
reduced greenhouse gas emissions and the device pays for itself in
approximately three years through cost savings and incentive funding.
Additionally, secondary benefits include reduced equipment maintenance costs.
By optimizing the voltage delivered to all electrical equipment, items such as
lighting systems and motor drives last significantly longer.
The firm's patented device consists of two components: an electrical
harmonizer and an automatic voltage regulator (AVR). The Electrical
Harmonizer-AVR improves power quality and operates at an efficiency of greater
than 99.5%. When installed at the main electrical service panel, it works by
optimizing the incoming voltage level. This ensures only the optimized amount
of energy is used, saving money and energy consumption while extending the
life of electrical equipment and reducing greenhouse gas emissions.
"It's a little known fact that electrical utilities deliver more voltage
than necessary at certain points of the grid to compensate for transmission
line losses," explains Gerry Gill, Chairman and CEO, Legend Power. "Optimizing
the amount of energy that enters a facility is a proactive way for companies
and utilities to reduce energy bills, maintenance costs and emissions."
Commercial applications of the device show a seven to ten per cent energy
reduction. The technology has been independently tested, measured and verified
in two pilot projects with BC Hydro Power Smart Group and now qualifies for
incentive funding through the Power Smart Partner Program.
Early adopters to benefit include BC Hydro, Science World, IKEA
(Richmond), Canada Post, Honda Canada, and shopping centres including
Il Mercato and Sunshine Hills. Legend Power is targeting large consumers of
power and plans to prioritize commercial and light industrial companies and
Science World started working on a lighting-related pilot using the
Legend Power harmonizer in 2001 and saw immediate cost savings. It has had a
harmonizer conditioning the facility's entire electrical load since July 2003.
The pilot has been monitored by BC Hydro. Measured annual savings at the
facility were 193,536 kWhrs, an 8.5 per cent savings on the electricity bill,
and a reduction of 101 tonnes of greenhouse gases. There was also a reduction
in the operating temperature of motor drives and distribution transformers, as
well as a significant extension to the life of both lamps and lighting
"Every time we need to change an exterior light bulb, it involves
rappelling down the geodome, so having our light bulbs lasting two years
instead of one makes an enormous difference," says Bryan Tisdall, CEO of
Vancouver's Science World. "Legend Power provides innovative, sustainable and
cost effective energy conservation. We were attracted by the link with
BC Hydro's Power Smart program and, as both an educational facility and a
not-for-profit organization, we wanted to be proactive at saving money and
exploring new technology."
Burnaby-based Legend Power holds worldwide distribution rights and
patents within nine countries for its device. The company has invested
$9 million in R&D. It is listed on the TSX Venture (TSX-V: LPS).
Forward Looking Information
This release and referenced materials contain forward looking statements,
within the meaning of the "safe-harbour" provisions of the Private Securities
Act of 1995, which are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements. Factors
that could cause actual results to differ materially include: rapid
technological and/or market changes in the industry including actual
electrical billing rates; the adequate protection of the Company's proprietary
rights; and other factors described in the Company's regulatory filings.
Although we believe the expectations reflected in our forward looking
statements are reasonable, individual results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements.
For further information:
For further information: Ginny Morgan, Corporate Development Manager,
Legend Power Systems Inc., (604) 420-1500; Media: Ross Sullivan/Stephanie
Thatcher, Peak Communicators, (604) 689-5559; Investor Relations: Martin
Livingston, Living Communications Inc., (604) 657-8234