SOURCE: Car Charging Group, Inc.

Car Charging Group, Inc.

July 03, 2012 08:30 ET

CarCharging Receives $200,000 NYSERDA Award to Install Electric Vehicle Charging Stations in 15 High-Traffic Locations in New York

Manhattan and Brooklyn to Receive New EV Charging Services, Expanding Public EV Infrastructure and Providing EV Drivers Convenient Public Charging

NEW YORK, NY--(Marketwire - Jul 3, 2012) - CarCharging Group (OTCBB: CCGI), a leading provider of electric vehicle (EV) charging services, today announced it received funding from the New York State Energy Research and Development Authority (NYSERDA) to supply, deploy and install EV charging stations throughout New York City.

Powered by the ChargePoint® Network, the CarCharging EV charging stations will be installed in multi-residential buildings and monthly parking garages.

"The deployment of our EV charging services throughout New York City is a continuation of our efforts to extend our reach to support growing sales of electric vehicles and increased consumer demand for EV charging services," said Michael D. Farkas, CEO of CarCharging. "Thanks in part to NYSERDA's funding, CarCharging is proud to help the state expand its EV infrastructure."

The award comes from NYSERDA's Electric Vehicle Supply Equipment Demonstration Program, which is providing funding to 325 charging stations around the state.

"NYSERDA is pleased to join Gov. Andrew Cuomo in promoting electric vehicles around the state. EVs offer a cleaner alternative to combustion engines, helping to reduce the consumption of fossil fuels and the emission of greenhouse gases," said Francis J. Murray Jr., President and CEO of NYSERDA. "CarCharging will play an important role in supporting the creation of an electric vehicle future in New York."

CarCharging's newest stations will be installed in high-traffic locations in Manhattan and in Brooklyn, where growing numbers of EV drivers park at home and work, as well as for restaurants, shopping, and entertainment.

CarCharging's service utilizes a Coulomb Technologies EV fast charging station, known as Level II, which provides 240 volts with 32 amps of power to quickly refuel an electric vehicle's battery. The EV charging stations utilize the standard SAE J1772™ connector widely adopted by nearly all automobile manufacturers. 

EV drivers can easily register and create a CarCharging account online, and attach a small card to their keychain to initiate use and payment at any intelligent CarCharging station. The CarCharging keychain card also allows drivers to use charging locations on the ChargePoint® Network, the largest national online network connecting EV drivers to EV charging stations. Car Charging also accepts direct payment via credit card.

Users can pinpoint EV charging station locations using the CarCharging map at http://www.carcharging.com/. The ChargePoint® mobile application for the iPhone, Android, and BlackBerry phones also provides real-time charging station location information with turn-by-turn directions. Drivers will soon be able to reserve a time slot, guaranteeing access to EV charging stations to recharge their electric vehicle. 

Electric vehicles already on the market include the Nissan Leaf, Chevy Volt, Toyota Prius Plug-in Hybrid, BMW ActiveE, Ford Focus Electric, Mitsubishi i-MiEV, Coda, and Fisker Karma. Additional electric vehicle models are expected to be available later this year.

About Car Charging Group, Inc. 
Car Charging Group, Inc. (OTCBB: CCGI) is a pioneer in nationwide public EV charging services, enabling drivers to easily refuel anytime, anywhere throughout North America. 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. 

CarCharging has more than 37 strategic partnerships across multiple business sectors including multi-family residential and commercial properties, parking garages, shopping malls, retail parking, and municipalities. CarCharging's partners include, but are not limited to Ace Parking, Central Parking, Equity One, Equity Residential, Icon Parking, Rapid Parking, Related, USA Parking, Walgreens, The Pennsylvania Department of Environmental Protection, The City of Miami Beach, The City of West Palm Beach, and The City of Norwalk, Connecticut that manage or own a total of 6.4 million parking spaces.

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

About NYSERDA
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975.

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