Electric Car Stock News: Car Charging Group (OTCBB:CCGI) Awarded $1 Million Grant by Pennsylvania Department of EP


MIAMI BEACH, Fla. - December 15, 2011 (Investorideas.com Renewable Energy Newswire) - Car Charging Group, Inc. (OTCBB:CCGI.OB), a provider of electric vehicle (EV) charging services, today announced it has been awarded a $1 million grant by the Pennsylvania Department of Environmental Protection to install EV charging stations at 17 service plazas on the Pennsylvania Turnpike.

"This grant represents a tremendous accomplishment for our Company and endorsement of our industry leading capabilities to install and operate EV charging stations," said Michael D. Farkas, CEO of Car Charging Group. "We are extremely excited about this major project with the Pennsylvania Department of Environmental Protection to further develop EV infrastructure on the Pennsylvania Turnpike."
"Pennsylvania has been -- and will continue to be -- a nationwide leader on energy issues in all sectors," Pennsylvania Department of Environmental Protection Secretary Mike Krancer said.
"The Pennsylvania Turnpike has a long history of innovation in highway transportation," Turnpike Commission Chairman William K. Lieberman said. "We are pleased to participate in the effort to expand the electric vehicle charging infrastructure in Pennsylvania by offering electric car owners easy access to charging stations at convenient locations."
Car Charging Group will install Level II charging stations, which can charge a car in roughly four hours, and Level III charging stations, which can charge a car in about 20 minutes. The EV charging stations will be installed at the service plazas in three phases. The first phase of the work will be incorporated into ongoing service-plaza renovations between Harrisburg and New Jersey. Later phases will involve service plazas between Harrisburg and Ohio, and then along the Northeastern Extension. The project is expected to be completed by June 30, 2013.
Car Charging Group will install EV charging stations manufactured by Coulomb Technologies, the leading EV charging solutions company. Users will have access to the ChargePoint(R) Network, the largest global online network connecting EV drivers to unoccupied charging stations. Car Charging Group will provide flexible payment options, the ability to make reservations, and tracking of customer usage patterns, energy use, costs and revenues, all via the ChargePoint Network's cloud-based software service plans for managing EV charging operations. Through the network, EV drivers benefit from ChargePoint mobile apps (iPhone, Blackberry and Android), mapping services and driver support services.
The Turnpike Commission has also committed up to $500,000 in electric upgrades at the plazas to provide the charging stations with the necessary voltage.
The DEP grant is provided through the Alternative Fuels Incentive Grant Program, which is funded by a portion of the gross utilities receipts tax.
About Car Charging Group, Inc.:
Car Charging Group, Inc. (OTCBB:CCGI.OB), headquartered in Miami, Florida, is the pioneer and one of the nation's fastest growing providers of EV charging services. Our ultimate mission is to establish a nationwide infrastructure, enabling EV and Plug-in Hybrid Electric Vehicle (PHEV) owners to charge their EVs anytime, anywhere in North America and ultimately Europe and Asia. Our strategy is to be a "first in" strategic partner with businesses, municipalities, shopping malls, parking garages, multi-family residential and commercial properties, and others who are expected to have high numbers of EVs at their locations. After strategically assessing the most suitable and visible locations with our facility partners, we install and maintain the EV charging stations at no cost to our partners. Our partners benefit by sharing in the revenue generated from the EV charging stations while enhancing green initiatives throughout their business operations. Since we launched operations in 2009, we have developed contractual relationships with 29 leading partners that own more than 6.4 million parking spots. More than one 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 in the U.S. by 2015 with estimates calling for more than 40 million on the road worldwide in 2030. For more information about Car Charging Group, Inc., please visit www.CarCharging.com.
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 as 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:
Investor Relations and Media Contact:
For Car Charging Group, Inc.
Kevin S. Inda
Corporate Communications, Inc. (CCI)
kevin.inda@cci-ir.com
407-566-1180