Power Efficiency files with SEC, describes DER-focused business plan
Written By: Stratton Report
August 18, 2016
On August 18, Power Efficiency Corporation announced that it had filed a registration statement with the Securities and Exchange Commission to become a reporting company, registering its common stock via Form 10.
R. Scott Caputo, PEC’s President remarked:
“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.”
Per the company, PEC will provide solutions aimed at promoting grid stability problems and the large and actively growing market opportunity for energy storage, which is projected to reach $45 billion by 2020.
PEC solutions are aimed at grid operators, utilities, and Commercial and Industrial (“C&I”) customers, focusing on distributed energy resources and battery energy storage systems for grid balancing services to the Independent System Operators; load shifting for utilities; energy management, through storage for C&I customers; and microgrids for energy security.
The company’s goal is to build, own, and operate distributed energy resources to develop a portfolio of income producing projects.