MIAMI BEACH, FL--(Marketwire - Oct 8, 2012) - Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of charging services for electric vehicles ("EVs"), today announced that it has been highlighted in Gene Marcial's 'Street Beat' blog on Forbes.com. Forbes.com describes itself as the "home page for the world's business leaders and the leading business news source in the world." The posting, titled "Electric Car Charging Stations Will Be the Next Important Issue for Electric-Powered Vehicles" can be viewed by clicking on the following link: http://www.forbes.com/sites/genemarcial/2012/10/06/electric-car-charging-stations-will-be-the-next-important-issue-for-electric-powered-vehicles/.
Gene Marcial, the 28-year author of Business Week's "Inside Wall Street" column, describes CarCharging as an "emerging player in car-charging stations" and "a pioneer in nationwide public electric-vehicle charging services." He also discusses CarCharging's EV charging services now available in four locations in Miami Beach, Florida as well as the company's strategic partnerships with over forty retail, municipal and multi-dwelling unit residential business partners, which all in all represent over 6.5 million parking spaces.
Also quoted in the post is Michael D. Farkas, CEO of CarCharging, who comments on the future of the EV industry, and states that the "future of battery technology will drive down the cost of electric cars as well as increase the distance such cars can travel without a charge." Farkas also says that the company's services use electric-vehicle charging stations manufactured by ChargePoint, known as Level II, that provide 240 volts with 32 amps of power to quickly refuel an electric vehicle's battery. EV drivers can request a CarCharging account online, says Farkas, and attach a small RFID card to their keychain to use and pay at any CarCharging stations. The stations also accept direct payment from credit cards, and the company will soon offer home charging kits that will allow recharging in less than two hours versus the eight hours needed to charge a car by plugging into wall electric outlets.
Marcial goes on to highlight that "CarCharging, which trades over-the-counter, closed on October 5, 2012, at $1.47 per share, up from a low of $1 on September 11, 2012."
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public EV charging services, enabling drivers to easily refuel 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 has built 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. All installation, maintenance and related services are paid for by CarCharging, thus 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 a total of 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.