- Business
- Legend Power Systems Inc. (TSXV:LPS) develops and sells onsite energy management technology focused on active power management for commercial and industrial buildings. Founded in 1987 and headquartered in Vancouver, British Columbia, Canada, the company assembles, markets and distributes its patented SmartGATE device, which dynamically optimizes electrical power quality and efficiency; SmartGATE Insights Power Impact Assessment, which analyzes building power conditions to quantify impacts on reliability, lifetime and efficiency of systems such as HVAC, elevators, lighting and life-safety equipment; and related installation, commissioning and maintenance services including gold and platinum warranty packages. Legend Power Systems operates primarily in Canada and the United States through subsidiaries Legend Power Systems Canada and Legend Power Systems Corp. - U.S., targeting sectors including government facilities, commercial real estate, multifamily housing, big-box retail, offices, education, energy service companies and industrial clients. In recent developments, the company entered a partnership agreement in October 2025 with a leading North American franchise network supporting over 150 electrical and HVAC contractors to expand SmartGATE distribution and installation; received a U.S. Department of Defense letter of intent in mid-2024 for 10 SmartGATE systems at a military base with plans for broader rollout; was selected for the U.S. GSA Green Proving Ground program from over 800 applicants, with installations scheduled at a border facility in December 2024 and Federal Triangle in Washington, D.C. in early 2025; deepened collaboration with New York City's electrification initiatives via the NYC IDEA program leading to eight-figure opportunities; anticipates GSA Multiple Award Schedule designation within 60 days to streamline federal procurement; reported record bookings and gross margins approaching 50% with 55 Gen III SmartGATE systems exceeding performance expectations; expects to receive CAD 1.7 million in funding; and projects EBITDA-positive operations in 2025 alongside potential annual revenue exceeding $100 million within 3-5 years.