New Image Concepts, Inc. Completes Share Exchange and Name Change to Car Charging Group, Inc.; Begins Trading Under New Symbol "CCGI"
New Management Team Leads Industry in Development of Nationwide Electric Car Charging Infrastructure
MIAMI BEACH, FL--(Marketwire - 12/22/09) - Car Charging Group, Inc., (OTC.BB:CCGI) an owner, provider and servicer of electric car charging stations, announces that the Company has completed a share exchange agreement between New Image Concepts, Inc., a Nevada corporation (the "Company") and Car Charging, Inc., a Delaware corporation. Upon the completion of the share exchange agreement the Company changed its name to Car Charging Group, Inc., and is now trading under a new stock symbol (CCGI) on the Over-the-Counter Bulletin Board market.
"I am pleased to announce that we have a new name, Car Charging Group, Inc. which more accurately represents the true nature of our business and our mission," said Andy Kinard, newly appointed President of Car Charging Group, Inc.
Coinciding with the influx of electric vehicles (EV) being rolled out beginning in late 2010 and aided by government tax incentives, subsidies, loan guarantees and grants, Car Charging Group, Inc. intends to provide a service whereby the public will be able to recharge their EV's at various public locations, such as parking garages, municipalities, and sporting venues.
"We are attempting to change the consumer perception of a limited electric vehicle driving range and are committed to providing EV owners an alternative, safe and affordable charging station away from home in customer-friendly locations," added Kinard. "But widespread adoption of plug-in (PHEV) cars depends on the establishment of convenient recharging locations where drivers live and work. By investing in infrastructure now, we believe we will be able to facilitate a seamless transition to electric cars in the near future that will accelerate with market demand."
Car Charging Group, Inc. has initiated negotiations with several large Florida municipalities to install electric car charging stations throughout their respective municipalities, as well as garage owners and operators and commercial property owners, pursuant to negotiated revenue sharing agreements.
About Car Charging Group, Inc.
Car Charging Group, Inc. is in the business of owning, providing and servicing electric car charging stations to building owners, parking garages, municipalities, sporting venues. The Company is based in Miami Beach, Florida. Car Charging plans to initially launch its service in the South Florida market with the intent to expand both nationally and internationally over time.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" that involve risks and uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events. You should not place undue reliance on these forward-looking statements. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.
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