Car Charging Group, Inc. Signs Agreement With Laz Parking to Provide Electric Vehicle Charging Stations at Their Parking Facilities
MIAMI BEACH, Fla., July 23, 2010 (GLOBE NEWSWIRE) -- Car Charging Group Inc., (OTCBB:CCGI) today announced it has partnered with national parking company, LAZ Parking NY/NJ, LLC, to provide charging stations for electric vehicles at LAZ Parking locations throughout the New York and New Jersey metropolitan areas. This partnership is an effort to support the potential need for electric vehicle charging stations nationwide to satisfy the plans of automobile manufacturers such as Tesla Motors, the Renault and Nissan alliance, General Motors, Ford and others lining up to offer consumers a choice of electric vehicles available in dealer showrooms during 2010.
"As the number of electric vehicles on U.S. roads increases, thanks to a push from the U.S. Government and auto industry, the need to create a public charging infrastructure increases. Car Charging Group is in the development stages of an open system that is potentially cost-efficient and provides conveniently-located charging stations in numerous locations -- homes, offices, parking garages," said Car Charging Group CEO Michael D. Farkas. "Car Charging Group not only helps potential EV drivers access charging stations, eliminating range anxiety fears, but will also help property owners and managers attain potential financial gains from the installation of charging stations."
The ChargePoint Level II (240 volts) charging stations are manufactured by Coulomb Technologies, the industry leader in electric vehicle charging infrastructure. Through the aid of government tax incentives, subsidies, loan guarantees and grants, Car Charging provides EV charging stations at no charge to property owners/managers while retaining ownership, thus allowing drivers access to convenient locations and partners to realize a percentage of the charging revenue generated.
"The past few years have seen tremendous growth for our company as we expand our parking services portfolio to include airports, hospitals, educational facilities, event venues, mixed-use developments, in addition to offices and stand-alone facilities," said Eric Siskind, Regional Vice President New York/New Jersey of LAZ Parking. "We are consistently looking for ways to utilize new technology to increase service and profits including web-based parking systems, online payment, license plate recognition and automated valet applications. Installing electric vehicle charging stations is the next logical technological advancement to help our clients increase service and profits with the added bonus of helping them become more environmentally sensitive."
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 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.
About LAZ Parking, Ltd. LLC
Formed in 1981 with a single valet location in Hartford, Connecticut, LAZ Parking has developed into one of the largest parking companies in the United States, operating over 1,300 parking facilities in 21 states and 99 cities, managing in excess of 425,000 parking spaces, 6,000 employees and $500 million in managed revenues.
In the fall of 2007, LAZ Parking formed a partnership with Europe's top parking operator, VINCI Park. This transaction represented a mutual growth strategy by both parking leaders. VINCI Park has built an extremely successful network of parking operations in countries throughout Western and Eastern Europe and Canada. VINCI Park, headquartered in Paris, France currently operates over 863,000 parking spaces in 300 cities, in 14 countries. This joint venture between LAZ and VINCI enables LAZ Parking to support VINCI Park's growth in the United States by giving it the benefit of its top-quality management, and a successful track record of significant growth.
LAZ Parking LLC, is based in Hartford, Connecticut. For more information visit the company website at http://www.lazparking.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 and 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 changed.
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