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Boston Logan International Airport Saves Energy on Moving Walks in Project with KONE Inc. and Power Efficiency Corporation

Dépèche transmise le 22 avril 2009 par Business Wire

Boston Logan International Airport Saves Energy on Moving Walks in Project with KONE Inc. and Power Efficiency Corporation

LAS VEGAS--(BUSINESS WIRE)--Power Efficiency Corporation (OTCBB:PEFF), a clean tech company focused on efficiency technologies for electric motors, announced today that KONE Inc. (OMX: KNEBV), one of the world’s leading elevator and escalator companies, installed the KONE EcoStart® on 20 moving walks at Boston Logan International Airport. In 2008, Logan Airport served 26.1 million passengers.

The KONE EcoStart is a unique motor efficiency controller that soft starts an electric motor, bringing it from rest to full speed. Once it is at full speed, the EcoStart monitors the motor and improves its efficiency when operating. By conserving energy, the EcoStart supports the building’s sustainability programs and contributes to environmental protection efforts. EcoStart is manufactured by Power Efficiency Corporation exclusively for KONE under private label.

Test results at Logan Airport indicate the 24 EcoStarts will save approximately 60,000 kilowatt-hours (kWh) per year. Logan Airport is also considering installing EcoStart on the escalators at the airport, which will enable the airport to save significantly more energy.

Vance Tang, KONE EVP and Area Director for the Americas, commented, “The EcoStart installations at Logan Airport are a great example of KONE’s commitment to partner with our customers and suppliers to save energy, reduce emissions and eliminate waste. The EcoStart makes good business and environmental sense for the airport and the entire Boston community.”

Steven Strasser, Chairman and CEO of Power Efficiency Corporation, said, “We are pleased to work with KONE and Logan Airport on this EcoStart energy saving project. By working with KONE, our highly integrated and easily installed products make the EcoStart well suited to address the complex energy savings requirements of major transportation hubs like the airport.”

About Boston Logan International Airport

Boston Logan, 15 minutes from Routes 128/90 and 5 minutes from downtown Boston, serves as the gateway to the New England region, and offers nonstop service to 31 international destinations and in 2008 handled 26.1 million passengers. Boston Logan is the Air Line Pilot Association’s Airport of the Year for 2008 because of its commitment to safety. Over the past decade, more than $4.4 billion has been spent building new terminals, parking facilities – including a cell phone lot, roadways, airfield improvements and airport concessions, all of which has transformed the airport into a world-class 21st Century facility and the airport of choice for all of New England.

About KONE

KONE’s objective is to offer the best people flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides its customers with industry-leading elevators, escalators and innovative solutions for modernization and maintenance, and is one of the global leaders in its industry. In 2008, KONE had annual net sales of EUR 4.6 billion and over 34,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland. www.kone.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 first product based on E-Save 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 E-Save 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.