March 16 , 2009

Power Efficiency Corporation Announces Greg Curhan, co-founder and former President of Merriman Curhan Ford, Appointed to the Company's Board of Directors

LAS VEGAS--(BUSINESS WIRE)---Power Efficiency Corporation (OTCBB: PEFF), a clean tech company focused on energy efficiency technologies for electric motors, announced today that Greg Curhan was appointed to the Company’s Board of Directors and as a consultant and advisor to the Company.

“We are extremely pleased to have Greg Curhan join our company as a board member,” said Steven Strasser, the Company’s Chairman and CEO. “He is very highly respected on Wall Street, especially in the Cleantech investment community, from his years of leading Merriman Curhan Ford’s CleanTech investment banking practice. Furthermore, as an entrepreneur himself he has founded and grown several businesses. Greg enhances our already exceptionally strong set of directors and his sage advice will be a tremendous asset to our Company and stockholders.”

“I am honored to join Power Efficiency’s board of directors and look forward to working closely with the Company as an advisor,” said Greg Curhan. “Policy-makers and the investment community are rapidly coming to the realization that energy efficiency must play a central role in solving our energy and climate problems. There are very few companies that address the large potential energy efficiency market with a proven and proprietary technology. Power Efficiency is one of these companies and I believe it has excellent potential.”

Greg Curhan was co-founder of Merriman Curhan Ford and served as president of the investment bank, chairman of the commitment committee and head of the firm’s CleanTech banking team. Curhan has focused his entire 25 year career on advising entrepreneurs and financing small, fast-growing companies, He is a serial entrepreneur having co-founded Curhan, Merriman Capital Management and having been a partner and early employee of the investment banking firm of Volpe Brown Whelan, as well as CFO of WorldRes. He also worked at investment banks Merrill Lynch and Montgomery Securities. Curhan holds a B.A. from Dartmouth College, summa cum laude.

About Power Efficiency Corporation
Power Efficiency Corporation is a clean tech 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 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.

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.