Legend Power Systems Inc. (Legend) and The Toronto Atmospheric Fund (TAF) announced the launch of a joint Energy Savings Performance Agreement (ESPA). The ESPA is a risk free non-debt financing tool available to qualified multi-location commercial building owners across Ontario. It will allow Legend's customers to save energy and reduce their carbon footprint with zero capital outlay.

This financing approach is being used to install Legend's patented Harmonizer that helps customers save energy through voltage optimization. The first multi-location project supported by the ESPA is currently underway and is expected to be completed by the end of February 2014. With rising energy rates and increasing concern surrounding climate change, the business community's desire to save energy has never been greater.

Additionally, the energy conservation solutions needed to reduce a building's energy consumption are available and are cost effective. However, lack of capital and uncertainty surrounding product performance (long term energy savings), two common objections, has slowed the adoption of innovative energy saving products. The ESPA addresses these objections by providing building owners with a zero capital cost acquisition model and a long term energy savings guarantee of up to 10 years that is backed by a third party insurer.

TAF retains title of the Harmonizer over the term of the agreement but at the end of the agreement title is transferred to the building owner. TAF and the building owner share the financial savings over the term of the agreement and the building owner will continue to save after the agreement concludes as the Harmonizer will remain installed and operational. The ESPA removes the Harmonizer's perceived financial risks and reduces the capital cost to zero.