Car Charging Group, Inc. Completes Installation of Electric Car Chargers at The Delray Professional Center
Company Continues to Facilitate Widespread Adoption of Electric Vehicles by Meeting Needs of Office Complex
MIAMI BEACH, Fla., June 24, 2010 (GLOBE NEWSWIRE) -- Car Charging Group, Inc. (OTCBB:CCGI) today announced that it has completed the installation of an electric vehicle (EV) charger for the occupants of The Delray Professional Center, a 43,000 square foot medical/professional building on 1.93 acres at 1300 NW 17th Ave, Delray Beach, in Palm Beach County, Florida.
"We are thrilled to have the ability to provide our tenants with unique building amenities like this new, state-of-the-art EV charging station," said Steve Newman, Property Manager for The Delray Professional Center. "The Delray Professional Center prides itself on offering the most up-to-date and innovative green technologies to our tenants, and the addition of this first charging station in the city of Delray Beach is just one example of some of these amenities."
Occupants of The Delray Professional Center who own EVs will now be able to conveniently charge their vehicles at the charging station located on site. Under the agreement, The Delray Professional Center will share a percentage of the revenue derived from the charging stations.
"According to the American Time Use Survey by the Bureau of Labor Statistics of the U.S. Department of Labor, employed persons work an average of 7.6 hours a day, which means that their vehicles are left unused for a majority of that time," said Michael D. Farkas, CEO of Car Charging Group. "We strongly believe that installing electric car charging stations in professional buildings, such as The Delray Professional Center, will not only help proprietors but will also help tenants as well by allowing them to charge their EVs for an extended period of time, thus alleviating any range anxiety that they may have regarding the length that each charge would last. Realizing that all electric vehicles need to connect to the existing electric grid to recharge their batteries, Car Charging is leading the movement to establish the necessary infrastructure one installation at a time."
Car Charging Group, Inc. is in the business of owning, providing and servicing electric car charging stations in designated parking areas of public and private property, such as multi-family residential and commercial buildings, parking garages, municipalities, shopping malls, strip centers, sporting venues and other convenient charging locations. The company's business model enables the business/property owner to provide his/her customers or constituents with the service of convenient car charging while simultaneously benefitting monetarily from a percentage of the revenue from the charging station.
"It is imperative that the groundwork to support the first generation of electric vehicles is developed now," added Farkas. "By installing electric car chargers in public areas, Car Charging Group is helping consumers enjoy the freedom of electric mobility."
About Car Charging Group, Inc.
Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with its landowner partners to identify appropriate locations for its charging stations. The Company seeks to provide convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.
An estimated 40 million plug-in electric vehicles, such as the Nissan Leaf, GM Chevy Volt, Fisker Karma, Tesla Model S as well as many others, are expected to be on the road by 2030. Car Charging Group and other companies in the EV industry like ECOtality and Better Place, realize the need to establish charging station networks throughout the transportation infrastructure to provide easy access to energy everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group seeks to become the leading provider of electric car charging services. The Company has launched its service in the South Florida market and is expanding its operations both nationally and internationally.
Car Charging Group, Inc. is based in Miami, Florida. The Company's website can be viewed at www.carcharging.com
Forward-Looking Safe Harbor Statement:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of Car Charging Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changes.
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