September 17 , 2007
Power Efficiency Announces the Opening of its New Technology Center
September 17, 2007– Las Vegas, NV – Power Efficiency Corporation (OTCBB: PEFF.OB), a green energy company focused on efficiency technologies for electric motors, recently opened a new technology center in Las Vegas, Nevada to support expanded operations. This new facility will support product development, R & D and provide quality and technical support for the integration of eSave Technology™ into additional products. This new facility will also provide the critical infrastructure and lab equipment to continue the advancement of the Company’s technology and products.
Power Efficiency Corporation continues to enhance its engineering and technical capabilities. Brian Taylor, Vice President of Product Management at Power Efficiency, stated, “As a technology company, we’re always working to attract and retain top talent to develop our products and intellectual property. This new facility, along with an increase in engineering and technical staff, augments our ability to advance our technology and develop products for additional markets. To date we have five full-time engineers working at the new technology center.”
Over the last six months the company has increased its investment in intellectual property and has filed four additional patents on eSave Technology™ and is in the process of filing additional patent protection for energy efficient technology.
The company has UL and CSA approval for its new digital product with eSave Technology™ and will be working on CE approval over then next quarter. This will allow the new product lines to be sold in its targeted markets globally.
Steve Strasser, Power Efficiency’s Chairman and CEO, stated, “This is an additional important milestone in the development of the company. As previously announced, we have signed an agreement with a contract manufacturing company, giving us the ability to provide volume manufacturing and delivery globally. With the opening of our technology center and its staff, Power Efficiency now has significantly enhanced in-house capability to support product development, R & D and customer requests for customization.”
About Power Efficiency Corporation
Power Efficiency Corporation (OTCBB: PEFF.OB) is a green energy company focused on efficiency technologies for electric motors. Power Efficiency is incorporated in Delaware and is headquartered in Las Vegas, NV. The Company has developed a patented and patent-pending technology platform, called eSave 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. eSave Technology™ can be licensed to motor, controls and equipment manufacturers. Power Efficiency’s first product based on eSave 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 eSave 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.
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:
B.J. Lackland, CFO
Christine Toledo, Media Contact
702-697-0377
