Message #8 From:
savvy1 Date: October 9, 2008 02:20:22 PM
News out - New Distribution Agreement
On the heels of more insider buys, PEFF has released news:
Power Efficiency Corp. & CED Elevator Supply Division Enter Distributor Agreement to Provide Motor Efficiency Controllers to ...
Power Efficiency Corporation (OTCBB: PEFF), a green energy company focused on efficiency technologies for electric motors, today announced that it has entered a formal distribution agreement with CED Elevator Supply Division - West.
CED Elevator Supply Division – West, based in Long Beach, California, is a division of Consolidated Electrical Distributors (CED), a distributor of electrical components with over 600 locations in the United States. CED Long Beach is focused on serving the vertical transportation industry and has close relationships with many major elevator and escalator service providers. Effective immediately, CED Long Beach will stock Power Efficiency’s Motor Efficiency Controllers at its Long Beach facility to serve customers throughout the western United States.
Scott Dutton, Manager of CED Long Beach, stated, “We are excited about this relationship with Power Efficiency because it allows us to offer an attractive and timely energy efficiency product to our customers. CED takes pride in providing premier parts and services to the elevator and escalator industry, and we are proud to add Power Efficiency’s Motor Efficiency Controller to our product offering.” Steven Strasser, Chairman and CEO of Power Efficiency Corporation, commented, “We are extremely pleased to enter this agreement with CED because they are highly respected and are a major provider of parts and components to the elevator and escalator industry. We believe partnering with CED will accelerate our sales efforts in this market. This is the first step in the execution of our strategy of leveraging our sales efforts by entering into agreements with respected distributors in our target markets. We seek to enter into similar agreements targeting other markets in the future.” About Consolidated Electrical Distributors (CED) Consolidated Electrical Distributors (CED) is a multi-billion-dollar family-owned international wholesale distributor, founded in 1957. CED is known for being the low-cost provider in the markets they enter, as well as providing custom products and services to meet the needs of their customers in these specific markets. CED Elevator Supply Division was formed in May 1999, by joining CED-Long Beach in California and All-Phase Electric Supply in Tucson, Ariz., and South Windsor, Conn. For more information on CED, visit www.cedelevator.com.
About Power Efficiency Corporation Power Efficiency Corporation is a green energy 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.
