SPE: a relevant identity

The success of a company does not rely on a logo, but for this branding concept, I'm using it as a launching point. I do not know the history of the SPE logo, but I suspect that it dates from an era when it was common for a designer to simply place an entity's initials within a shield, giving scant thought the meaning or emotional possibilities. I'm sure the more recent incarnation of the logo has a concept behind it but it's not immediately apparent to me nor is it especially attractive. SPE is in need of an updated identity so as to be "visually relevant" and connect with potential young members.