SOURCE: Car Charging Group, Inc.

Car Charging Group, Inc.

October 11, 2012 08:30 ET

CarCharging™ Files Provisional Patent Application for an Electric Vehicle (EV) Charging Station That Optimizes EV Recharging, and Reduces Energy, Equipment, and Network Costs

CarCharging's Innovative Patent for an EV Charging Station With Toggle Unit Allows Multiple EVs to Charge Successively Without the Insertion or Removal of Plugs During Charging

MIAMI BEACH, FL--(Marketwire - Oct 11, 2012) - Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of convenient electric vehicle (EV) charging services, announced today the filing of a provisional patent application (#61695839) for an EV charging station with a toggle unit. Utilizing the toggle unit, the EV charging station will have the ability to charge multiple EVs successively without the insertion or removal of plugs during the charging process. This feature improves the process of current EV charging stations; reduces potential strain on the energy grid; and reduces EV service equipment, network, and energy costs.

Currently, an EV battery begins to charge as soon as it is plugged into an EV charging station and the session is activated. In instances where the station is occupied for long periods of time such as overnight at multifamily or mixed-use properties, other EV drivers are not able to charge their EV. This can cause frustration for EV owners and limit their use of the charging station. Alternatively, EV charging stations with two or more plugs charge EVs simultaneously which can strain the energy grid.

CarCharging's groundbreaking EV charging station provisional patent optimizes the efficiency of the EV station through the use of a toggle unit, processor, and multiple plugs. The toggle unit activates the charging current from the station to the first of multiple plugs attached to the charging station. Then, the processor detects when charging is complete, and the toggle unit deactivates the first plug and activates the next plug. This process permits multiple EVs to plug into the station simultaneously and charge as the current becomes available. This novel design also reduces the internal components of current EV charging stations, thereby reducing equipment and network costs. We anticipate that stations developed with this new design will continue to utilize the ChargePoint® network.

Furthermore, CarCharging's EV charging station provisional patent offers EV drivers the ability to delay the charge of their EV to off-peak times without having to be physically present to initiate the charge. This feature will reduce the energy costs associated with charging the EV.

"As a nationwide provider of EV charging services, we are keenly aware of the advantages and disadvantages of current EV charging stations," said Michael D. Farkas, CEO of CarCharging. "In order to optimize EV charging services, we feel that it is imperative that the stations have the ability to charge multiple EVs consecutively. We firmly believe that our provisional patent provides this solution."

About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public EV charging services, enabling drivers to easily recharge anytime, anywhere throughout the United States. CarCharging provides a comprehensive turnkey electric vehicle charging service to commercial and residential property owners. Employing the most advanced technology, CarCharging is committed to creating a robust, feature-rich network for EV charging.

Headquartered in Miami Beach, FL with offices in San Jose, CA and Barcelona, Spain, CarCharging's business model is designed to accelerate the adoption of public EV charging services. CarCharging pays for all installation, maintenance and related services, thereby eliminating capital costs for property owners.

Car Charging Group has more than 40 strategic partnerships across multiple business sectors including multi-family residential and commercial properties, parking garages, shopping malls, retail parking, and municipalities. CarCharging Group's partners include, but are not limited to Ace Parking, Central Parking, Equity One, Icon Parking, Rapid Parking, Related Companies, USA Parking, Walgreens, the Pennsylvania Department of Environmental Protection, the City of Miami Beach, Florida, The City of Hollywood, Florida and The City of Norwalk, Connecticut that manage or own over 6.5 million parking spaces.

For more information about CarCharging, please visit www.CarCharging.com.

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. Car Charging Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changes.

Contact Information

  • CarCharging Media Contact:
    Suzanne Tamargo
    (305) 521-0200 x214
    Email Contact

    CarCharging Investor Relations:
    Constellation Asset Advisors, Inc.
    (415) 524-8500
    www.ConstellationAA.com