Power Efficiency Corp. Wins Department of Energy Award.Business Editors ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich.--(BUSINESS WIRE)--Jan. 8, 2003 Power Efficiency Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: PREF PREF Prefix PREF Pulse Repetition Frequency ) reported today that it has been selected by the U.S. Department of Energy to receive a funding award for continuing development of its patented energy-saving motor controllers, which have proved capable of reducing the electricity required to run alternating current motors 15 to 40 percent. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Nicholas Anderson, chief technology officer of Power Efficiency, this grant will be used to develop a medium-voltage (2300 to 4600 volt) version of the controller for use on the large motors often found in the manufacturing, mining, wood and paper, steel, petroleum and chemical industries. The potential energy savings in these industries are significant. This project is one of 19 chosen by the DOE, out of 202 proposals submitted, all aimed at advancing energy-efficient, environmentally clean production and building technologies. "The innovative technologies receiving funding today," said Secretary of Energy Spencer Abraham Edward Spencer Abraham (born June 12, 1952 in East Lansing, Michigan) is a former United States Senator from Michigan. He had served as the 10th United States Secretary of Energy, serving under President George W. Bush. , "will improve U.S. industrial competitiveness while reducing energy use." The Power Efficiency motor controllers are already saving electric energy at more than 3,000 installations in department store chains, hotels, airports, government facilities and industrial plants. NOTE: Any statements in this release that are not statements of fact may be considered "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined in federal securities law. Forward-looking statements are only predictions and may differ materially from actual events or results. |
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