October 17 , 2007
Power Efficiency Announces Initial Purchase Orders for Installations at Two Major U.S. Airports
October 17, 2007 – Las Vegas, NV – Power Efficiency Corporation (OTCBB: PEFF.OB), a green energy company focused on efficiency technologies for electric motors, today announced it recently received initial purchase orders for installations on escalators at two of the nation’s top 25 airports by passenger traffic.
The company has chosen transit facilities, such as airports and subway systems, as one of its target markets for escalator applications. The Company believes transit systems are an attractive market for its Motor Efficiency Controller with E-Save Technology™ because of the relatively large number of escalators at many transit facilities, the long duty cycles of escalators at these facilities, and government mandates to become more energy efficient and reduce green house gas emissions.
Steven Strasser, Power Efficiency’s Chairman and CEO, stated, "Our recent success with transit systems, including the Los Angeles Metro this summer and now these initial orders for installations at two airports, helps the company in three ways. First, it helps the Company’s financial performance. Second, it gives us additional reference customers, which is always important for new technologies. Third, these orders show the industry that the owners of large escalator systems demand energy saving solutions for their escalators. Escalators are large pieces of equipment operating 24 hours a day, 7 days a week in most transit facilities. By installing our Motor Efficiency Controller with E-Save Technology™, we seek to prove these facilities can save considerable amounts of energy without changing the operation of their escalators.”
About Power Efficiency Corporation
Power Efficiency Corporation is a green energy company focused on 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 15-35% 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 first product based on E-Save Technology™ is a Motor Efficiency Controller for applications such as escalators, crushers, granulators, mixers, saws, and MG elevators. Power Efficiency is also developing a new product based on E-Save Technology™ for the tens of millions of small motors found in applications such as residential air conditioning, pool pumps, and clothes dryers. The company is working with manufacturers to incorporate this technology directly into new motors and appliances. For more information go to www.powerefficiency.com.
Contact:
Power Efficiency Corporation
B.J. Lackland, CFO, (702) 697-0377
Kenneth Munson, VP Sales and Marketing, (702) 697-0377
Andrew Barwicki, Investor Relations, (516) 662-9461
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.
