MORRISTOWN, N.J. & LAS VEGAS--()--Schindler Elevator Corporation, the North American operating entity of the Swiss-based Schindler Group, the world’s second largest elevator company and the world’s leading escalator supplier, and Power Efficiency Corporation (OTCBB:PEFF), a clean tech company focused on efficiency technologies for electric motors, announced today the signing of an agreement for Power Efficiency to supply its private label Motor Efficiency Controller (MEC) for use on escalators.
“Schindler is also a leader in reducing energy use within our own operations. The US Department of Energy has honored Schindler’s Gettysburg manufacturing facility with a 2010 Save Energy Now Award for its energy reduction activities.”
The Schindler Energy Efficiency Manager is a unique motor efficiency controller that incorporates Power Efficiency’s proprietary E-Save Technology® to improve the efficiency of electric motors in escalators. The Energy Efficiency Manager is manufactured by Power Efficiency Corporation exclusively for Schindler. The Energy Efficiency Manager is a complete motor control device that soft starts a motor, bringing it from rest to full speed, and then protects the motor from adverse conditions, such as voltage and amperage spikes. Most importantly, when the motor is operating at full speed, Power Efficiency’s E-Save Technology monitors the motor and reduces its energy use when it is lightly loaded, typically reducing energy consumption by 20-35%. Schindler plans to incorporate the Energy Efficiency Manager as an energy saving option for customers purchasing repairs and modernization for escalator upgrades.
Bill Fiacco, executive vice president, Field Operations for Schindler Elevator Corporation America, said, “Helping our customers reduce costs, save energy and reduce greenhouse gas emissions is a priority for Schindler. We pride ourselves in being an industry leader and are excited to work with Power Efficiency to offer our customers the Energy Efficiency Manager. Energy saving solutions such as this are a win-win – good for our customers and good for the environment.”
“Schindler is also a leader in reducing energy use within our own operations. The US Department of Energy has honored Schindler’s Gettysburg manufacturing facility with a 2010 Save Energy Now Award for its energy reduction activities.”
Steven Strasser, Chairman and CEO of Power Efficiency Corporation, said, “We are extremely pleased that Schindler will offer its customers the Energy Efficiency Manager based on Power Efficiency’s E-Save Technology for escalators. We look forward to working very closely with Schindler to address their customers’ desires to save energy and reduce CO2 emissions.”
E-Save Technology® is a registered trademark of Power Efficiency Corporation.
About Schindler Elevator Corporation
Schindler Elevator Corporation designs, manufactures, installs, services and modernizes a broad range of elevators, escalators and moving walks for almost every building type. The company is the North American operation of the Switzerland-based Schindler Group, a leading global mobility provider, present in more than 140 countries. Schindler supports sustainable urban development with safe, reliable and ecologically sound mobility solutions. Schindler Group is the largest supplier of escalators and the second largest manufacturer of elevators worldwide. It has approximately 43,000 employees and its operations span five continents. Schindler designs, installs, services and modernizes transport systems for almost every building type worldwide. Globally, Schindler equipment moves more than 900 million people per day. www.us.schindler.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 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.
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