May 1, 2006—Power Efficiency Corporation announces successful results of a test conducted on an Otis Elevator Company installation at a facility in New York. Power Efficiency is a developer and manufacturer of advanced energy savings technologies for electric motors. Otis Elevator is the largest service provider of elevators and escalators in the world, according to the announcement.
Using Power Efficiency’s patented technology, the tests showed very significant energy savings, including an amperage (current) reduction of approximately 48% and an estimated savings in kilowatt-hours of approximately 35%. New York State has one of the highest electricity rates in the country.
“This test validates yet again the effectiveness of our advanced technology for the reduction of energy consumption by electric motors,” says Power Efficiency’s chairman and CEO, Steven Strasser. “Saving over one-third of the electricity used by an electric motor powering a complex piece of machinery is an extremely significant accomplishment. These savings result in a very good rate of return and payback in the New York market.”
Strasser also says that the company is following up on its strategy to develop its elevator and escalator business while entering industrial markets. He adds that the company is presently involved in several installations and expects to release more test results soon. The company is targeting markets with high electricity rates, such as California, New York, and Nevada.
For more information, visit the Power Efficiency Corporation’s Web site.
