Nationwide Rollout of Electric Vehicle Charging Stations to Begin
MIAMI BEACH, Fla. and NASHVILLE, Tenn., Sept. 15, 2011 (GLOBE NEWSWIRE) -- Car Charging Group Inc. (OTCBB:CCGI), a provider of electric vehicle (EV) charging services, today announced a partnership with Central Parking System Inc. and its subsidiary, USA Parking System Inc., the nation's largest parking garage operator, to provide EV charging services at locations nationwide via Coulomb Technologies' ChargePoint® Network.
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"There are close to 17,000 parking garages in the U.S., and they will play one of the most vital roles in the development of a national EV charging infrastructure," said Brian Golomb, Director of Sales of Car Charging. "By partnering with two of the most important companies in this sector – companies that understand the benefits of electric vehicles – we will move much quicker in the rollout of this nationwide infrastructure."
Car Charging Group plans to install EV charging stations at sites owned by the two parking garage operators. The operators have 2,200 locations nationwide with 1.1 million parking spaces.
As part of the agreement, Central Parking has the right to purchase five percent of the Common Stock of Car Charging Group. "We are very excited about this partnership, because it will greatly expand the reach of our nationwide EV charging network," said Michael Farkas, CEO of the Miami Beach, Fla.-based Car Charging Group. "Furthermore, we hope to further enhance our already strong relationship with these companies by giving Central Parking the opportunity to be a shareholder in our company and to take part with us in electrifying the U.S. transportation system."
Central Parking believes that electric vehicles can make a difference in the transportation sector, and they look forward to being a partner in building a nationwide network of EV charging stations.
"Electric vehicles are no longer a mirage – they are becoming an ever increasing presence on our roads and we are proud to be working with such an innovator in the EV sector," said James Marcum, CEO of Central Parking Systems. "By installing EV charging stations in our garages, we will be providing added services to our clients and strengthening our position as an industry leader in environmentally-friendly initiatives."
USA Parking System, a wholly owned subsidiary of the Nashville, Tenn.-based Central Parking System Inc. also aims to benefit both the clients and the environment through its agreement with Car Charging.
"We are proud to be working with Car Charging Group in helping to expand the critical infrastructure necessary to make EVs a mainstay of our transportation sector," said William Bodenhamer, president and CEO of USA Parking. "Already leaders in the parking garage industry, we look forward to becoming corporate leaders in environmental sustainability efforts as well."
Car Charging Group provides EV charging stations at no charge to property owners/managers while retaining ownership, thus allowing their partners to offer their customers, tenants and employees charging services without incurring any outlay of capital. In addition, Car Charging Group's partners realize a percentage of the charging revenue generated by the charging services paid for by the EV owners.
About Car Charging Group Inc.
Car Charging Group Inc. is an owner and provider of EV charging stations with the mission to establish a nationwide infrastructure, enabling EV and plug-in hybrid electric vehicles (PHEV) owners to charge their EVs anytime, anywhere. As part of its strategy, the company owns, provides, installs and maintains EV charging units and works with its landowner partners to identify appropriate locations for its charging stations. The company provides convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls, parking garages, multi family residential and commercial properties.
An estimated 40 million plug-in electric vehicles, such as the Nissan LEAF, GM Chevrolet Volt, Fisker Karma, Tesla Model S, Ford Focus EV as well as many others, are expected to be on the road by 2030. Car Charging Group recognizes the need to establish a comprehensive network of charging stations that delivers easy, convenient access to drivers wherever they live, work and play. By investing at the forefront of the electric car revolution, Car Charging Group seeks to become the leading provider of electric car charging services. The Company launched its operations nationally in September of 2009 and is looking to expand its operations internationally.
Car Charging Group, Inc. is based in Miami, Fla. The company's website can be viewed at www.CarCharging.com.
About Central Parking
Central Parking (www.Parking.com) is the leader in professional parking management. With offices in all major metropolitan areas in the United States, the Company operates approximately 2,200 parking facilities containing 1.1 million spaces. The Company's clients include some of the nation's largest owners and operators of mixed-use projects, office buildings, hotels, stadiums and arenas as well as airports, hospitals and municipalities.
About USA Parking
USA Parking System (www.USAPark.com) was founded by Bill Bodenhamer in 1980. USA Parking, "The Hospitality Parking Company®" has taken the parking industry to a new level of aggressive hospitality service and operational excellence. The company's specialty is the management of high end, service-oriented parking facilities and transportation-related services, which include resorts, office and mixed-use projects, retail/entertainment-oriented projects and airport-related facilities. USA Parking System's client list is unparalleled in the industry
Today, USA Parking operates in eight (8) states and Puerto Rico. They manage and operate over 100 parking facilities in excess of 100,000 parking spaces. The Company's success is attributed to their commitment to quality service and to their full time training facility managed by USA Parking University. USA Parking has built a corporate management team of 24 professionals with a total of 314 years of USA experience and 400 years of Parking Management experience which is second to none in the country.
Forward-Looking Safe Harbor Statement:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. 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.
CONTACT: Press Contact: Jason Heller One University Plaza, Suite 507 Hackensack, New Jersey 07601 firstname.lastname@example.org tel: 201.465.8030 fax: 201.649.1193 Investor Relations 305-521-0150 Constellation Asset Advisors, Inc 415-524-8500Source: Car Charging Group, Inc.