October 14 , 2009

Power Efficiency Bolsters Sales Force, Management Team

Key New Hires Will Accelerate Push Into Industrial, Vertical Transportation Markets

LAS VEGAS--(BUSINESS WIRE)--Power Efficiency Corporation (OTCBB: PEFF - News), a clean tech company focused on energy efficiency technologies for electric motors, announced it has recently added a Chief Operating Officer and several highly experienced sales personnel to lead commercialization of the Company’s products that were recently certified by Underwriters Laboratory (UL).

The new employees are focused on developing sales channels to industrial markets, such as plastics, mining and material handling, wood processing and other industries. These people include Scott Johnson, Executive Vice President and COO, Jitendra (Jay) Mistry, Director of Industrial Sales – Western Region, and Jack Barrett, Director of Industrial Sales – Eastern Region. This group has over 60 years of combined experience in senior management and sales positions in large and entrepreneurial motor control and automation companies, including Rockwell Automation, Parker Hannifin, Danaher Motion, Reliance Electric, Compumotor and others.

This industrial markets group will complement sales efforts in the vertical transportation (elevators and escalators) market, where the Company recently signed agreements with two of the four largest OEMs of escalators, KONE Inc. and ThyssenKrupp. Sales efforts in the vertical transportation market are led by Alan Taylor, VP of Business Development for Vertical Transportation, who joined the Company in January. Mr. Taylor has spent 30 years in the vertical transportation industry, including as a VP of a division of ThyssenKrupp. In early October, the Company added Grant Sherman as a Regional Sales Manager for Vertical Transportation. Mr. Sherman previously spent 5 years in sales at Mitsubishi Electric’s Elevator & Escalator division followed by experience in vertical transportation consulting at HKA Elevator Consulting.

Scott Johnson joined the Company as Executive Vice President and Chief Operating Officer in July. His initial focus has been developing a network of independent representatives and distributors focused on sales to industrial customers and OEMs. For over 25 years, Mr. Johnson has been a senior manager of a Fortune 1,000 company and has lead multiple automation and motor control companies from early stage commercialization to tens of millions in revenue. His previous positions and accomplishments include:

Jitendra (Jay) Mistry, Director of Industrial Sales – Western Region, joined Power Efficiency in April after 18 years at Reliance Electric and Rockwell Automation, the largest U.S. manufacturer of motor controls.  His most recent position was as Sales Manager, Channel and Component Sales, he led a sales team covering the U.S. Southwest including Southern California, Arizona, New Mexico, and East Texas.  Mistry’s previous positions include Regional Commercial Manager, Power Control; Area Manager, Drives and Power Products; and Account Manager.

Jack Barrett, Director of Industrial Sales - Western Region, joined Power Efficiency in October and brings over 30 years’ experience in sales and marketing of automation products. Most recently, Barrett was at Danaher Motion, where he held various positions including Director of OEM Sales for the Kollmorgen division and VP of North American Sales for the Portescap division. Prior to joining Danaher, Barrett was with Parrker Hannifin for 18 years where his last position was Business Unit Manager, Servomotors.
 
Steve Strasser, Power Efficiency’s Chairman & CEO, said, “With the addition of these highly experienced senior sales-oriented professionals over the past several months, we have brought exceptional talent and many decades of experience into the company.  This group will help propel our sales in the industrial and vertical transportation markets, working with independent sales representatives, distributors and OEMs.”

For more news and information on Power Efficiency Corporation, please visit www.IRGnews.com/coi/PEFF where you can find the CEO’s video, a fact sheet on the company, investor presentations, and more.

About Power Efficiency Corporation
Power Efficiency Corporation is a clean tech company focused on energy efficiency technologies for electric motors. Power Efficiency is incorporated in Delaware and is headquartered in Las Vegas, Nevada. The Company has developed a patented and patent-pending technology platform, called E-Save Technology, which has been demonstrated in independent testing to improve the efficiency of electric motors by up to 35% in appropriate applications. Electric motors consume over 25% of the electricity in the U.S. and many operate inefficiently. E-Save Technology can be licensed to motor, controls and equipment manufacturers. Power Efficiency’s products, based on E-Save Technology, include an Industrial Motor Efficiency Controller for three phase applications, such as escalators, crushers, granulators, mixers, saws and MG elevators, and a new Appliance Motor Efficiency Controller for small single phase applications such as residential and light commercial appliances. For more information, go to www.powerefficiency.com. 

Forward-Looking Statement
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company’s products in the market; the Company’s success in technology and product development; the Company’s ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company’s SEC filings, including the financial statements and related information contained in the Company’s SEC filing. Power Efficiency assumes no obligation to update the information in this release.

Contact for Power Efficiency Corporation:
BJ Lackland
Chief Financial Officer
(702) 697-0377

Contacts for The Investor Relations Group:
Investor Relations: Jason Strominger or Michael Crawford
Media Relations:  Mike Graff
(212) 825-3210