CarCharging Endorses the Obama Administration's Unprecedented $4.5 Billion Investment for the Deployment of Electric Vehicle Infrastructure
CarCharging/Blink Supports the White House Plan to "Ensure That Electric Vehicle Drivers Have Access to Charging Stations at Home, at Work, and on the Road"
MIAMI BEACH, FL -- (Marketwired) -- 07/25/16 -- Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging" or "Company") the largest owner, operator, and provider of electric vehicle (EV) charging services, announced today its endorsement of the Obama Administration's unprecedented action plan for the Federal government, states, and private sector, as well as a framework for collaboration of EV industry stakeholders to accelerate the deployment of EV charging infrastructure and the adoption of electric cars. Resembling CarCharging's own business strategy, according to the July 21, 2016 fact sheet issued by The White House Office of the Press Secretary, the intention is to "ensure that electric vehicle drivers have access to charging stations at home, at work, and on the road".
The fact sheet included, but was not limited to, the following actions:
- Releasing up to $4.5 billion in loan guarantees and inviting applications to support the deployment of commercial EV charging facilities
- Launching the Fixing America's Surface Transportation (FAST) Act process to identify and develop corridors for zero emission and alternative fuel vehicles, which will include a network of EV fast charging stations
- Hosting an "Electric Vehicle Hackathon" in order to determine insights and develop new EV charging solutions
"Given CarCharging's commitment to expanding EV charging infrastructure throughout the United States and supporting the acceleration of EV adoption, we fully support the Obama Administration's plan to reduce our country's dependence on oil and increase access to alternative fuels," said Mike Calise, CarCharging's Chief Executive Officer. "Combined with our current EV charging solutions for the home, work, and public locations, as well as our efforts and intentions to expand our EV charging services and locations across the United States, we believe that the new action plan will assist in providing the necessary commitment and financing to deploy EV charging infrastructure on a commercial-scale."
CarCharging intends to collaborate with the Obama Administration, the Departments of Energy, Transportation, Defense, and Environmental Protection Agency, as well as EV industry stakeholders to help successfully implement the new action plan and various programs involved.
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public electric vehicle (EV) charging services, enabling EV drivers to easily recharge at locations throughout the United States. Headquartered in Miami Beach, FL with offices in San Jose, CA; New York, NY; and Phoenix, AZ; CarCharging's business model is designed to accelerate the adoption of public EV charging.
Through its subsidiary, Blink Network, CarCharging offers EV charging equipment and connectivity to the Blink Network, a cloud-based software that operates, manages, and tracks the Blink EV charging stations and all of the associated data. Blink Network also provides residential EV charging solutions for single-family homes. For more information, please visit www.BlinkHQ.com.
CarCharging has strategic partnerships across multiple business sectors including multi-family residential and commercial properties, parking garages, shopping malls, retail parking, and municipalities.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. 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 conditions.
CarCharging Media Contact:
(305) 521-0200 x 214
Source: Car Charging Group, Inc.
Released July 25, 2016