January 12 , 2007
Power Efficiency Corporation Announces Addition of Bruce Gaynor as Vice President of Sales and Marketing
New Sales Leader with 25 Years of Industry Experience to Lead New Product Sales and Marketing
LAS VEGAS--(BUSINESS WIRE)---Power Efficiency Corporation (OTCBB: PEFF), a developer and manufacturer of advanced energy savings technologies for electric motors, today announced that Bruce Gaynor has joined the Company as Vice President of Sales and Marketing. For approximately 25 years Mr. Gaynor has been in sales and marketing positions in the electric motor and drives industry, particularly related to energy efficient applications.
“We are extremely pleased to have someone of Bruce’s caliber and experience join us as we introduce our digitally-based line of products to a much wider market,” said Steven Strasser, the company’s Chairman and CEO. “Bruce’s deep knowledge of the market for industrial motor technologies is an outstanding addition to the team. He has a strong record of introducing new products and growing sales in these markets through various rep, OEM, licensing and distribution agreements.”
The company has previously announced that it expects to introduce its digital products for industrial and commercial electric motors in the first quarter of 2007.
“I am very eager to join Power Efficiency at this time,” Gaynor said. “Based on my decades of experience in the industry, I am excited by the technology and believe it is the right solution at the right time to drive efficiency improvements in electric motor installations.”
Prior to joining the company, Mr. Gaynor was Vice President of Sales and Marketing at Ametek, Inc., where he developed global sales, channel and product strategy for $75 million commercial motors division for two years. Prior to Ametek, Mr. Gaynor was National Sales Manager for HVAC Drives for Saftronics, Inc. (now Emerson Industrial Automation) for four years. Earlier in his career, Mr. Gaynor was at Reliance Electric, a division of Rockwell Automation, for 18 years in positions such as Business Development Manager for Drive Systems, Latin America, International Marketing Manager, Asia/Pacific, and Country Manager, South Korea. Mr. Gaynor holds a BS in History from Nasson College and completed significant coursework toward an MBA in Marketing at the University of Rochester.
About Power Efficiency Corporation
Power Efficiency Corporation develops and markets advance energy saving technologies for electric motors. The Company’s first product, an energy saving soft start, reduces the amount of energy used by electric motors in applications such as many escalators, elevators, grinders, granulators, mixers, saws, and stamping presses. The energy saving soft start allocates power in direct proportion to the motor's required workload, eliminating wasted electricity. Energy savings from the Company’s products are typically 20-40% in appropriate applications. The controllers also reduce the operating heat of the motor, producing significant motor life extension and downtime reduction benefits. PEC products are UL compliant and CE and CSA certified. For more information visit www.powerefficiencycorp.com.
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 product 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 2005 Annual Report. Power Efficiency assumes no obligation to update the information in this release.
Contact:
Power Efficiency Corporation
B.J. Lackland, 702-697-0377
Chief Financial Officer
blackland(at)powerefficiencycorp.com
