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VANCOUVER, BC / ACCESSWIRE / May 4, 2022 / Legend Power Systems® (TSXV:LPS)(OTCQB:LPSIF), a global leader in commercial electrical system solutions, today announced an agreement with RXR, a leading owner, investor, and developer of real estate, whereby Legend will assess electrical performance in several of RXR's commercial buildings in New York City.
RXR is committed to building socially, economically and environmentally responsible communities and towns. RXR operates 93 iconic properties in New York City and other core regions in the United States, with a significant concentration of large Class A office buildings located In Rockefeller Plaza, Madison Avenue, Park Avenue, and Avenue of the Americas.
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.
The assessments will begin with several notable commercial office properties and are part of the extensive GHG Reduction and ESG initiatives for RXR.
"RXR has an industry-leading commitment to ESG initiatives," says Alex Gulagaci, Director of Engineering at RXR Realty. "Our partnership with Legend gives us additional, detailed visibility to understand how our buildings are impacted and the magnitude of the resulting financial and operational costs. We are keen to review the findings of Legend's assessments and recommendations for turnkey SmartGATE solutions as it could help us to refine our GHG reduction and ESG strategies and ensure that the RXR portfolio of buildings continues to be the best buildings in the New York City area."
The first round of assessments is scheduled to be completed in the coming months.
SmartGATE™ is an industry-leading, turnkey solution that 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 RXR Realty
RXR is an innovative investor, developer and place-maker committed to applying a customer and community-centered approach to building properties, services, and products that create enduring value for all stakeholders. Headquartered in New York with a national platform strategy, RXR is a 500+ person, vertically integrated operating and development company with expertise in a wide array of value creation activities, including ground up real estate, infrastructure and industrial development, uncovering value in underperforming properties, repurposing well-located iconic properties, incorporating cutting edge technologies and value-added lending. The RXR platform manages 83 commercial real estate properties and investments with an aggregate gross asset value of approximately $22.4 billion, comprising approximately 30.2 million square feet of commercial properties, a multi-family residential portfolio of approximately 7,300 units under operation or development, and control of development rights for an additional approximately 3,700 multi-family and for sale units as of December 31, 2021 adjusted for transactions through January 6, 2022. Gross asset value compiled by RXR in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.
To learn more about RXR Realty, please visit rxrrealty.com
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (http://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:
Sean Peasgood, Investor Relations
+ 1 647 503 1054
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SOURCE: Legend Power Systems Inc.
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