March 21 , 2007
Kenneth Dickey Joins Power Efficiency Corporation As Senior Advisor
Motor Industry Leader to Advise Company in Sales and Marketing
LAS VEGAS--(BUSINESSWIRE)---March 21, 2007—Power Efficiency Corporation (OTCBB: PEFF), a developer and marketer of advanced energy savings technologies for electric motors, today announced that Kenneth Dickey has joined the Company as Senior Advisor for Sales and Marketing. Mr. Dickey will help guide the sales and marketing team through the implementation of the Company’s strategic marketing plan.
“We are very fortunate to have Ken Dickey join our company as Senior Advisor for Sales and Marketing”, said Steven Strasser, the Company’s Chairman and CEO. “His executive level experience and success with major companies will help pave a strong future for Power Efficiency Corporation.
“Power Efficiency Corporation has a brilliant motor efficiency control technology that has the potential to achieve significant energy savings for many users of electric motors,” said Mr. Dickey. “I am very pleased with the opportunity to work with a team of true professionals focused on delivering so much benefit to our country”.
Mr. Dickey, co-founder of the Institute of Strategic Mapping, has spent his extensive career learning how superior results can be achieved from very average businesses and translating this winning process into an understandable, reusable format. Through his CEO/executive experience, strategic thinking has always been the key element in moving a business out of the “ordinary” into the ranks of superior performance. Mr. Dickey has successfully implemented his strategic thinking as President/CEO of Cleveland Motion Control, Dynact Inc., and Motion Science, Inc., with facilities in U.S., Europe, and Asia. Prior to this, Mr. Dickey served as Senior Vice President for Reliance Electric/ Rockwell Automation. His responsibilities included Sales and Marketing with 76 offices (located in the Americas), which generated more than $900 million in revenue. He also spent ten years as the Operating General Manager of the Industrial Motor Division at Reliance Electric, bringing the Company from low growth to becoming the most successful industrial motor business in the world.
Mr. Dickey received his Bachelor of Science in Finance-Marketing at the University of Akron. He received his Executive MBA at Case-Western Reserve University.
About Power Efficiency Corporation
Power Efficiency Corporation develops and markets advanced energy saving technologies for electric motors. The Company’s first product is an energy saving soft start. The product gradually brings an electric motor from rest to full speed. Once at full speed, the Company’s patented technology works like cruise control for a car; it delivers the motor just enough electricity to maintain a constant operating speed, whether the motor is heavily or lightly loaded. The technology saves energy on motors found in applications such as escalators, elevators, grinders, granulators, mixers, saw mills and more. Energy savings from these controllers are typically 20-40%. The controllers also reduce the operating heat of the motor, producing significant motor life extension and downtime reduction benefits. Power Efficiency’s products are CE Marked and CSA certified. The Company is also developing products to reduce the amount of electricity used by appliances and light commercial equipment, such as refrigerators, residential air conditioning and shop tools. 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 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 2005 Annual Report. Power Efficiency assumes no obligation to update the information in this release.
Contact:
Power Efficiency Corporation
Investor Relations:
B.J. Lackland, 702-697-0377
Chief Financial Officer
blackland(at)powerefficiencycorp.com
