TORONTO, ON / ACCESSWIRE / May 4, 2023 / Sparta Group (TSXV:SAY)(OTC:SCAXF) (the "Corporation", the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has inked a deal with Legend Power® Systems Inc., (TSX-V:LPS) ("Legend Power") that will give Sparta Group the ability to add SmartGATE™, a sophisticated active power management system to its suite of power quality optimization technologies.
Sparta's Energy division has been largely focused on helping industrial clients reduce energy waste, and now this agreement with Legend Power® means Sparta can expand its energy optimization efforts to a wider market of commercial clients.
SmartGATE™ uses a patented power regulation technology that extracts a percentage of electrical load, converts and analyzes it, rebuilds the electrical waveform, and then injects it back into a building's power system; thus, providing voltage regulation. This addresses core power attributes to optimize efficiency, reliability and reduce Greenhouse Gas emissions ("GHG"). Researchers at Massachusetts Institute of Technology ("MIT") estimate that on average, 30 percent of the energy used in commercial buildings is wasted. This creates a big opportunity for building managers to reduce operating costs and GHG.
"SmartGATE is ideal for our commercial customers because it can quickly and effectively identify, as well as fix underperformance in the electrical system. As with our industrial clients, Legend Power will be able to utilize the data gathered from our IoT based multi-point Power-Quality sensor system, then present it in Legend Power's standardized Power Impact Assessment™ report. This provides the customer with actionable hard data. We're fortunate to have access to Legend's Power Impact protocol and their SmartGATE™ platform to bring commercial building owners and operators the benefits of this powerful Canadian technology," said Dan Slade, Director of Sparta's Energy division.
Canada alone has close to 500,000 commercial buildings, creating a large market for energy optimization tools like SmartGATE™.
"Sparta already understands the huge difference energy optimization can make in terms of efficiency and savings in industrial buildings, so we are excited to be working with them to help even more commercial real estate clients reduce electrical bills, reduce maintenance costs, and greenhouse gas emissions," stated Mike Cioce, Vice President of Sales and Marketing for Legend Power® Systems.
As a result of The UN Climate Change Conference in Glasgow (COP26) businesses, including commercial enterprises, are feeling increased pressure to reduce carbon emissions. A significant part of this involves decreasing energy waste.
About Legend Power
Legend Power® Systems Inc. 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.
Legend Power® Systems is a publicly traded company on the TSX Venture Exchange under the ticker symbol LPS and on the OTCQB Venture Market under the ticker symbol LPSIF. Find more information at www.legendpower.com
Sparta Group is leading a green revolution in the business world with advanced technologies that reduce carbon footprint, save money, and enhance public image. Our products solve problems by leveraging Web 3 technologies such as artificial intelligence, blockchain and machine learning to fast-track the transition towards a sustainable future.
With Sparta, businesses can optimize their energy usage, upcycle electronic waste and accelerate health technologies, such as autonomous medicine. Sparta operates with three divisions - Environment, Innovation and Energy. These divisions deliver customized solutions to fit each client's needs.
Sparta is the only North American company to provide verified high-quality carbon credits to customers through electronic waste processing at its facilities in Toronto, Canada, and Oman (Arabian Peninsula).
Sparta is a publicly traded company listed on the TSX Venture Exchange under the ticker symbol "SAY" (TSX.V: SAY) and (OTC: SCAXF). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
John O'Bireck, President & CTO
Telephone: (905) 751-8004
The above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release).
SOURCE: Sparta Group
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