Power Efficiency and Macel Elevation Engineering Sign Agreement to Provide Motor Efficiency Controllers in Spain and Portugal

Power Efficiency Corporation (OTCBB:PEFF), a clean tech company focused on efficiency technologies for electric motors, has entered into a formal distribution agreement with Macel Ingeniería de Elevación S.L. (Macel Elevation Engineering) to supply Motor Efficiency Controllers (MECs) to the elevator and escalator markets in Spain and Portugal.

 
The MECs will feature Power Efficiency’s E-Save Technology®, a patented and patent-pending technology platform that has been demonstrated in independent testing to improve the efficiency of electric motors by up to 35% in appropriate applications.
 
Beginning immediately, Macel will offer clients energy efficiency upgrades for escalators and moving walkways. Macel’s clients include the service organizations of all four leading global escalator manufacturers (all of whom already work with Power Efficiency in North America), as well as Spanish vertical transportation leaders. Macel has worked on many notable vertical transportation projects in Spain and Portugal, including the Madrid, Lisbon and Seville Metro Systems and El Corte Ingles department stores.
 
Macel estimates that the combined Spain and Portugal markets include approximately 14,500 escalators and moving walkways.
 
Alfonso Molina, Technical Director of Macel, stated, “Our partnership with Power Efficiency enables Macel to offer a very attractive energy efficiency upgrade for customers and allows us to diversify our business. We look forward to working with Power Efficiency and our customers to improve the efficiency of many escalators in Spain and Portugal.”
 
Steven Strasser, Chairman and CEO of Power Efficiency Corporation, commented, “This is our first overseas distribution agreement, and we believe it provides Power Efficiency with a solid foothold in the European market. Macel is a highly respected provider of quality engineering and modernization solutions for the vertical transportation market in Spain and Portugal. We look forward to working closely with them to introduce our products to these markets.”
 
About Macel
Macel Ingeniería de Elevación S.L. (Macel Elevation Engineering) is a leading provider of installation engineering and modernization solutions for vertical transportation and transit systems in the Spanish and Portuguese markets. Macel offers complete project planning and installation of vertical transportation equipment. Macel also provides fire safety, energy savings upgrades, and engineering on a retrofit basis for existing escalators, elevators and moving walkways.
 
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.
 
Forward-Looking Statements
Statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements which may be made in this release or which are otherwise made by or on behalf of the Company. Factors which may affect the Company's results include, but are not limited to, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include but are not limited to, those discussed in the Company's SEC filings.

Source: Business Wire/Yahoo Finance

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