Car Charging Group, Inc. Partners With Icon Parking in Manhattan to Offer Electric Vehicle (EV) Charging Stations
New York City Area Parking Company to Provide Electric Vehicle Charging Services
MIAMI BEACH, Fla., Aug. 19, 2010 (GLOBE NEWSWIRE) -- Car Charging Group, Inc. (OTCBB:CCGI) today announced it has entered into a pilot agreement with Icon Parking Systems, the premier provider of parking services in Manhattan, to provide electric vehicle (EV) charging stations at select trial locations helping to smooth the transition to EV by creating a useful charging network for Icon's customers.
"This partnership lays the groundwork in Manhattan to support the national roll-out of electric automobiles on the way to dealer showrooms in late 2010 from manufacturers such as Tesla Motors, the Renault and Nissan alliance, General Motors, Ford and others," said Car Charging Group CEO Michael D. Farkas.
Car Charging Group plans to install Level II (240 volts) ChargePoint(R) Networked Charging Stations for EVs which are manufactured by Coulomb Technologies (www.coulombtech.com), 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.
"By partnering with Car Charging Group, we are poised to meet the increased demand from electric car owners while simultaneously working towards transportation solutions that are more sensitive to the environment," said Paul Regan, Vice President of Operations, Icon Parking Systems.
Icon Parking Systems operates more than 200 parking facilities in Manhattan. Many of Icon's locations are in the City's busiest and most vibrant commercial neighborhoods, others can be found near famous New York City landmarks, and many are in residential areas throughout the City. Vehicle owners can shop for monthly, hourly and daily parking, find great discount coupon offers and compare facilities by visiting Icon Parking at www.iconparking.com.
Last month, New York joined other cities including San Francisco, Austin and Detroit, as part of a nationwide push to add infrastructure for plug-in cars by installing its first public electric-vehicle charging station. According to New York City Mayor Michael Bloomberg, the city now has 6,000 alternative fuel vehicles in its fleet of 26,000 vehicles.
"Driving a vehicle with no engine and no exhaust is an attractive option to Americans so we anticipate that the upcoming introduction of mainstream electric vehicles by major manufacturers will usher in the mass adoption of electric vehicles," said Brian Golomb, Director of Sales & Marketing, Car Charging Group. "Access to charging stations outside of the home, at convenient locations like parking facilities, will make people more comfortable about investing in EVs and eliminate range anxiety fears."
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 parking garages, municipalities, and shopping malls.
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 launched its operations nationally in September of 2009 and is expanding its operations internationally.
Car Charging Group, Inc. is based in Miami, Florida. The Company's website can be viewed at www.carcharging.com.
About Icon Parking Systems
Icon Parking Systems is the premier provider of parking services in New York City. The Company has been in business for more than 50 years and operates over 200 parking facilities in virtually all of Manhattan's most high profile, prestigious neighborhoods and business districts. Icon Parking Systems is on the forefront of providing unsurpassed value to city residents, commuters and visitors to the City's numerous restaurants, Broadway theatres and concert halls, event destinations, shopping outlets and medical facilities by continuing to deliver affordable parking and prompt and courteous service. For more information, please visit www.iconparking.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 changes.
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