updated 3/1/2011 8:46:49 AM ET 2011-03-01T13:46:49

MIAMI BEACH, Fla., March 1, 2011 (GLOBE NEWSWIRE) -- Car Charging Group Inc. (OTCBB:CCGID), a provider of electric vehicle (EV) charging services with the mission to own and build-out a nationwide network of EV charging stations, announced it has completed the installation of EV charging stations at Mall of America® in Bloomington, Minnesota, the nation's largest retail and entertainment complex.

"Installing EV charging stations at the most visited mall in the nation is just Car Charging Group's latest rollout of EV infrastructure," said Car Charging Group CEO Michael D. Farkas. "We are continuing to negotiate with residential property owners, parking garages, businesses, shopping malls and other public parking areas to coordinate the best site for EV chargers."

"The EV industry is expanding and Mall of America views the installation of EV charging stations as a necessary amenity for our shoppers, as well bolster our efforts to create a high performance green facility," said Dave Haselman, Executive Vice President, Mall of America.

Mall of America stations are Level II, 240 volt, ChargePoint® Networked Charging Stations for electric vehicles, which are manufactured by Coulomb Technologies, the leader in electric vehicle charging solutions.

Car Charging Group is providing electric vehicle charging stations at no cost to property owners, while retaining ownership, due to aid from government tax incentives, subsidies, loan guarantees and grants. Drivers will have access to convenient charging locations, and partners obtain a percentage of the generated charging revenue.

"The addition of high-profile retail partners like Mall of America provides great momentum behind our mission to build out a nationwide infrastructure," added Car Charging Director of Sales, Brian Golomb. "The world's first affordable, mass-produced EVs are on the road and more are coming every day. By utilizing our services our clients are ready for them."

About Car Charging Group, Inc.

Car Charging Group, Inc. is a provider of electric vehicle (EV) charging services with the mission to own and build-out a nationwide network of EV charging stations that enables 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, 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 expanding its operations internationally.

Car Charging Group, Inc. is based in Miami, Florida.  The Company's website can be viewed at www.CarCharging.com .

About Mall of America®

Mall of America is the nation's largest retail and entertainment complex. At 4.2 million square feet, MOA is home to more than 520 world-class shops; Nickelodeon Universe®, the nation's largest indoor family amusement park; Underwater Adventures® Aquarium, a 1.2 million gallon walk-through aquarium; Moose Mountain Adventure Golf; Theatres at Mall of America® - a 14-screen movie theater with VIP theatre and more. The Mall opened in August of 1992 and is located in Bloomington, Minn., just minutes from downtown Minneapolis and St. Paul. For more information visit www.mallofamerica.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 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: Joanne Kaniewski
         One University Plaza, Suite 507
         Hackensack, New Jersey 07601
         jkaniewski@beckermanpr.com
         tel: 201.465.8019
         fax: 201.649.1081

         Investor Relations
         305-521-0150

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.94%
$30K home equity loan FICO 5.19%
$75K home equity loan FICO 4.58%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.40%
13.40%
Cash Back Cards 17.92%
17.91%
Rewards Cards 17.12%
17.11%
Source: Bankrate.com