SOURCE: Power Efficiency Corporation

Power Efficiency Corporation

August 18, 2016 07:00 ET

Power Efficiency Corporation Files Form 10 to Become Reporting Company

GREENVALE, NY--(Marketwired - Aug 18, 2016) - Power Efficiency Corporation (OTC: PEFF) announced that it has filed a registration statement on Friday, August 12, 2016, with the Securities and Exchange Commission in order to become a reporting company under the Securities and Exchange Commission's filing system for public companies.

Under the SEC's reporting scheme, Power Efficiency Corporation ("PEC") filed a registration statement on Form 10. A Form 10 registration statement is a registration statement used to register a class of securities pursuant to Section 12(g) of the Securities Exchange Act of 1934 ("Exchange Act") and PEC is seeking to register its common stock. Assuming the filing becomes effective, PEC will then be file annual reports on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K. There is a 60 day review period by the SEC before the filing becomes effective. The filing can be reviewed at
https://www.sec.gov/Archives/edgar/data/1024075/000114420416118394/v446619_10-12g.htm.

According to R. Scott Caputo, PEC's President, "The new management team, which gained control of PEC in July, 2015, has changed the business operations of PEC and we hope to provide sufficient and current information about us and our business plan to our existing shareholders through the SEC reporting process. The company has not filed any reports since 2012 when it withdrew from the SEC reporting process system." 

As described in its plan of operations I the Form 10, PEC will provide comprehensive one-stop solutions to the grid stability problems and take advantage of the large and actively growing market opportunity for energy storage, which is projected to reach $45 billion by 2020. PEC will offer solutions to grid operators, utilities, and Commercial and Industrial ("C&I") customers. Our focus will be on renewable Distributed Energy Resources ("DER") and Battery Energy Storage Systems ("BESS") for grid balancing services to the Independent System Operators ("ISOs"); load shifting for utilities; energy management, through storage for C&I customers; and microgrids for energy security. Our primary objective will be to build, own, and operate distributed energy resources and BESS to develop a portfolio of income producing projects.

About Power Efficiency Corporation

Power Efficiency Corporation (PEC) provides comprehensive one-stop solutions to the grid stability problems and takes advantage of large and actively growing market opportunity for energy storage, which is projected to reach $45 billion by 2020. PEC offers solutions to grid operators, utilities, and Commercial and Industrial (C&I) customers. Our focus is on renewable Distributed Energy Resources (DER) and Battery Energy Storage Systems (BESS) for grid balancing services to the Independent System Operators (ISOs); load shifting for utilities; energy management through storage for C&I customers; and micro grids for energy security. We build, own, and operate these facilities to develop a portfolio of income producing projects.

Forward-Looking Statements

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, and Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to: difficult economic conditions, the possibility of increased or adverse government regulation, and the risk that we may be unable to obtain necessary capital investment and financing to install generator and battery storage systems and otherwise complete projects, and other risks and uncertainties. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Power Efficiency Corporation to be materially different from the statements made herein.

Contact Information

  • Contact

    Power Efficiency Corp.
    Scott Caputo
    President and COO
    Email Contact