Building a Powerful Legend in the Electricity Market
Utilities deliver voltages higher than what customers need. The cost of electric power for commercial buildings is especially high, since the machines, lighting, and heating systems often operate 24/7. Legend Power Systems (a Sophic Capital client) has a solution called the Harmonizer that deals with this voltage differential and saves businesses money. Legend’s Harmonizer, based on proprietary technology, automatically regulates distribution line voltages entering commercial buildings, and it also has a bypass feature if line voltages are too low. The Harmonizer, which is backed by a 10-year warranty, generally pays back in 3 years from a significant reduction in electricity bills. And so far, Legend Power Systems has over 130 Harmonizer deployments across 13 verticals (including schools, big box retailers, office buildings) and has key recommenders including major utilities like Con-Edison and Toronto Hydro and established electrical contractors. Legend has created a new energy savings category that should help drive new customers and growth in new geographies, a market that Legend Power believes is worth $38 billion.