June 15, 2006
Power Efficiency Corporation Announces Sales Order from KONE Inc. for Installation at Columbus International Airport
KONE Inc. and Power Efficiency to Provide Airport Improved Energy Efficiency for Escalators
LAS VEGAS--(BUSINESS WIRE)---Power Efficiency Corporation (OTCBB: PEFF), a developer and manufacturer of advanced energy savings technologies for electric motors, today announced that it has received an order for EcoStart® units by KONE Inc. for installation at the Port Columbus International Airport.
The EcoStart® soft starts an electric motor and usually saves 20-40% of the electricity used by an escalator motor once it is at full speed. The EcoStart® not only conserves energy, but also reduces motor operating temperatures to increase their lifespan and reduce downtime. By conserving energy, the EcoStart® also reduces greenhouse gas emissions. KONE installs the EcoStart® in both new escalators and on a retrofit basis for customers that want to reduce their energy consumption.
The EcoStart® is based on Power Efficiency's patented energy saving technology, and is manufactured by Power Efficiency exclusively for KONE. Power Efficiency Corp. manufactures products based on this technology under its own brand name, the Power Efficiency Motor Efficiency Controller™.
“This order adds to the number of airports implementing our energy saving technology,” said Steven Strasser, Power Efficiency’s Chairman and CEO. “Our technology has been installed at Seattle-Tacoma International Airport and Toronto Pearson International Airport, among others.”
The Port Columbus International Airport (CMH) is the major airport serving Columbus, Ohio. The airport has three concourses which service eleven airlines and 36 direct flights to cities throughout North America. Over six million passengers a year go through the airport.
About Power Efficiency Corporation
Power Efficiency Corporation designs and manufactures the Power Efficiency Motor Efficiency Controller(TM), a product that reduces the amount of energy used by electric motors in many constant speed/variable load applications. These motors are found in escalators, elevators, grinders, granulators, mixers, saw mills and many other applications. The Power Efficiency Motor Efficiency Controller(TM) allocates power in direct proportion to the motor's required workload, eliminating wasted electricity. The company's core technology is based on patented improvements to NASA technology. The savings from these controllers are typically 20-40%, but can be as high as 45%. The controllers also reduce the operating heat of the motor, enabling significant motor life extension and downtime reduction benefits. PEC products are UL compliant and CE and CSA certified. The Company also has a prototype unit applicable to single-phase electric motors that are found in applications such as clothes dryers, refrigerators, vending machines, mixers and coffee grinders.
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@powerefficiencycorp.com
