By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, April 26, 2016

According to the International Energy Agency (IEA), mobilizing energy efficiency is an urgent priority. The IEA report notes that to transition to the sustainable energy system of the future, there is a need to decouple economic growth from greenhouse gas (GHG) emissions. The IEA believes that energy efficiency is the most important “arrow in the quiver” in order to achieve this. The IEA report adds that energy efficiency improvements across the agency since 1990 avoided $5.7 trillion of energy expenditure. However, energy efficiency is not just about financial savings. Energy efficiency also leads to improved energy security, higher productivity for businesses and reduced greenhouse gas emissions. The IEA adds that approximately 40% of the emissions reductions required by 2050 to limit global temperature increase to less than 2 degrees centigrade would potentially come from energy efficiency.

According to the IEA, in 2014, the estimate of avoided total final consumption (TFC) from energy efficiency investments increased to more than 520 million tons of oil equivalent (Mtoe) or 22 exajoules (EJ).

Given the growing emphasis on energy efficiency, the outlook for companies that provide products and services that help in reducing energy consumption is extremely bullish. One such company is Vancouver, Canada-based Legend Power Systems Inc. (TSX-Venture:LPS). The company markets a proprietary device called the Harmonizer that helps individual buildings reduce energy consumption through the utility proven concept of Conservation Voltage Reduction (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts.

LPS shares did drop in trading today with the stock closing 1.11% lower at $0.445 on volume of 203,600. The volume is more than triple the daily average volume of 55,319. LPS shares are down today even as the company announced the receipt of a significant order from a major retailer.

Legend Power Systems received a follow-on purchase order for the supply and installation of eight Harmonizer units from an international retailer known for its leadership in environmental sustainability. The units ordered by the retailer are among the higher capacity systems sold by Legend Power and those best suited for installation in large-scale buildings. Each of the units purchased will be individually placed in one of eight different retail locations. LPS noted that the retailer is a long-time customer, who has utilized its equipment with excellent results for many years.

Even though shares closed down on the day, they are within a whisker of their 52 week high as investors seem to approve of the Company and its corporate direction and bid shares higher as a result.

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