Dépêches

McCarran International Airport to Save Energy by Installing the KONE EcoStart® on Escalators

Dépèche transmise le 20 octobre 2009 par Business Wire

LAS VEGAS--(BUSINESS WIRE)--KONE Inc. (OMX: KNEBV), one of the world’s leading elevator and escalator companies, and Power Efficiency Corporation (OTCBB: PEFF), a clean tech company focused on energy efficiency technologies for electric motors, announced today that KONE has installed the EcoStart^® on escalators at McCarran International Airport (LAS).

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. The EcoStart^® incorporates Power Efficiency Corporation’s E-Save Technology^® and is manufactured by Power Efficiency exclusively for KONE.

McCarran International Airport, the principal airport serving Las Vegas and Clark County, is the nation’s seventh-busiest airport. Operated by the Clark County Department of Aviation, in 2008 the airport served more than 44 million passengers.

U.S. Senate Majority Leader Harry Reid (D-NV) said, “I’m glad to see this taking place at McCarran International Airport because when we save energy we save money. I believe breakthroughs in energy efficiency are critical for our nation to achieve energy independence and reduce harmful greenhouse gas emissions. This project at the airport is a good example of private and public entities working together to improve energy efficiency.”

Congresswoman Shelley Berkley (D-NV), commented, “Through the use of innovative energy efficiency technologies like those now being installed at McCarran Airport, we can cut energy consumption and reduce carbon emissions. This southern Nevada project is part of the larger effort to make our community energy smart and McCarran Airport is a great location for the use of technology that saves power and helps to address the causes of global climate change.”

Congresswoman Dina Titus (D-NV), said, “I have long been a vocal proponent of the development and use of energy efficiency technologies in Nevada. This project, involving our airport that serves millions of visitors working with a local technology company, is a prime example of how Nevadans can create jobs to build a stronger economy and cleaner infrastructure here at home.”

Randall H. Walker, Clark County Director of Aviation, said, “McCarran has a deep interest in maximizing its energy efficiency without sacrificing the level of service its customers expect. This program will help us to drive down our energy costs without any negative effects on our customers’ travel experience.”

Vance Tang, KONE EVP and Area Director for the Americas, stated, “KONE is proud to play an important role in improving the energy efficiency of McCarran International Airport. The EcoStart^® makes good business sense for the airport and the entire Clark County community. Our focus at KONE is to bring our customers safe, comfortable and efficient people flow solutions that consider the environmental impact throughout their entire life cycle. The increased efficiency gained by using this technology will immediately benefit the airport and the surrounding community.”

Steve Strasser, Chairman and CEO of Power Efficiency Corporation, commented, “We are very pleased to work with McCarran Airport and KONE to help the airport save energy. As a company based in Las Vegas, we are particularly happy to see our products benefitting the environment in our home community. Working with KONE, we have developed the EcoStart^® and together we believe it is well suited to address the complex energy savings requirements of a major transportation hub like McCarran International Airport”

About McCarran International Airport

McCarran and the four general aviation facilities in the Clark County Airport System are owned by Clark County, Nevada and operated under the policy direction of the Board of County Commissioners, the authority of the County Manager and the management of the Director and Deputy Director of Aviation. McCarran International Airport is part of the Clark County Airport System, which owns and operates five airports, including four general aviation facilities: North Las Vegas Airport, Henderson Executive Airport, Jean Sport Aviation Center, and Overton/Perkins Field.

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 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.