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Power Efficiency Receives Frost & Sullivan 2009 Technology Innovation of the Year Award for E-Save Technology®
LAS VEGAS, NV - February 10, 2009 - Power Efficiency Corporation (OTCBB: PEFF), a clean tech company focused on energy efficiency technologies for electric motors, announced today that it received the 2009 Frost & Sullivan North American Constant Speed Electric Motor Technology Innovation of the Year Award.
"Power Efficiency's Motor Efficiency Controllers with E-Save Technology provide a technologically innovative yet economical means for many types of motor-driven equipment to use energy much more efficiently," explains Chandrakumar.B.J, Research Analyst at Frost & Sullivan. "Our extensive global research indicates energy efficiency has become one of the top concerns for purchasers of electric motors and motor controls. Power Efficiency's unique E-Save Technology improves the efficiency of constant speed motors in a broad range of applications in commercial buildings and industrial facilities."
Each year the Frost & Sullivan Award for Innovation of the Year is presented to the company that has demonstrated excellence in new products and technologies within its industry. Frost & Sullivan's analysts track all new product launches, R&D spending, products in development, and new product features and modifications-utilizing extensive interviews in addition to technology research. These results are compared among all companies under consideration, evaluated based on degree of innovation and customer satisfaction, and ranked. Product criteria include significance, competitive advantage, innovation, acceptance, value-added services, and number of competitors with similar products.
Steven Strasser, Power Efficiency's Chairman and CEO, stated, "We are very honored to receive this prestigious award from Frost & Sullivan, one of the top international market research and consulting firms. Frost & Sullivan has an outstanding reputation for excellence in research and analysis in the field of industrial automation, including extensive coverage of electric motors and motor controls."
This Frost & Sullivan Award comes after a year of significant developments and innovations for Power Efficiency's motor efficiency controllers (MECs) based on E-Save Technology. Three patent filings have been completed on new inventions and the Company expects to file additional patents in 2009. Power Efficiency's MECs with E-Save Technology have been installed, and are already saving energy, on escalators, granulators, MG-set elevators, rock crushers, stamping presses and other applications. Installations have been completed at airports and transit systems, including Denver International Airport and the Los Angeles Metropolitan Transportation Authority, and at industrial facilities such as aggregate plants and plastics facilities.
MECs combine all of the standard features of a sophisticated solid state motor control with energy saving of up to 35%, depending upon the load on the motor. This combination of standard motor control features with energy savings enables OEMs to incorporate MECs on their products to make them more energy efficient and "green".
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment commun ity from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
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 parts 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.
Power Efficiency Corpora tion Contact:
Power Efficiency Corporation
Christine Toledo
Marketing Communications Manager
702-697-0377
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