MIAMI BEACH, Fla., Dec. 14, 2010 (GLOBE NEWSWIRE) -- Car Charging Group, Inc., (OTCBB:CCGI), an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, today announced a pilot program with Equity Residential, one of the nation's largest owners and operators of apartments.
In the initial stage of the agreement, Car Charging Group will install and maintain EV charging stations in eight locations including Cambridge, MA, Washington, D.C, Coral Gables, FL, Deerfield Beach, FL, Seattle, WA, Redmond, WA, Los Angeles, CA and San Diego, CA. Residents at these locations will have the ability to charge their electric vehicles or plug-in hybrids with this easy-to-use and conveniently located amenity.
"Car Charging Group continues to believe that the multifamily residential market is vital to the success of the EV Industry. Where will the millions of Americans who live in high rise buildings go to charge their vehicles at night?" asked Michael D. Farkas, CEO of Car Charging Group. "With most of Equity's units located in high growth population areas, we are certain that its residents will find access to our charging stations to be increasingly useful as the first fleet of electric vehicles will hit American roads en mass this winter."
"Apartment and condo residents often do not have access to their own personal garages," continued Farkas. "As more and more plug-in hybrids and electric vehicles become available, we need to establish a charging infrastructure in order to make it as simple as possible to charge these vehicles at convenient locations for these drivers."
About Car Charging Group, Inc.
Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle 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 and parking garages.
An estimated 40 million plug-in electric vehicles are predicted to be on the road by the year 2030. This estimate includes models from auto industry leaders, such as the Nissan Leaf, the GM Chevy Volt, the Fisker Karma, and the Tesla Model S. Car Charging Group, Inc. and other companies in the EV industry such as ECOtality, Better Place, and now GE realize the need to establish charging networks throughout the transportation infrastructure to provide easy access to charging stations everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group, Inc. seeks to become the leading provider of electric car charging services. The Company launched its operations nationally in September of 2009 and is expanding its operations internationally.
Car Charging Group, Inc. is based in Miami, Florida. The Company's website can be viewed at .
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: Beckerman PR Press Contact: Joanne Kaniewski 201.465.8019 fax: 201.649.1081 jkaniewski@beckermanpr.com One University Plaza, Suite 507 Hackensack, New Jersey 07601 Car Charging Group Inc. Investor Relations 305-521-0150