MIAMI BEACH, Fla. and NEW YORK, May 12, 2011 (GLOBE NEWSWIRE) -- Car Charging Group, Inc., (OTCBB:CCGI) today announced that EV Charging Services are now available at Icon 111 Eighth Avenue Parking LLC. This is the most recent installation following an agreement signed in August 2010 with Icon Parking Systems, the premier provider of parking services in Manhattan.
The services are available at 111 Eight Avenue, New York, which is owned by Google, Inc. and home to several tenants including Nike, WebMD, Sprint, and Barnes&Noble.com. "We are pleased to announce this installation, which is part of our nationwide rollout of EV charging stations that gives us the opportunity to partner with such forward thinking companies," said Michael D. Farkas, Chief Executive Officer of Car Charging Group. The building was previously owned by an ownership group including Taconic Investment Partners, the New York State Common Retirement Fund and the German investment group Jamestown and was recently purchased by Google in 2010.
The EV charging services available for use now include a ChargePoint® Networked Charging Station, manufactured by Coulomb Technologies. The charging station has dual outputs that deliver energy simultaneously: a 7.2 kW output delivering Level II (208/240 VAC @ 30 A) charging via the standard SAE J1772™ connector and fixed 18-foot cable, and a 2 kW output delivering Level I (120 VAC @ 16 A) charging via a standard NEMA 5-20 receptacle protected behind a locking door. Car Charging provides EV charging stations at no charge to property owners/managers while retaining ownership, thus allowing drivers access to convenient locations and partners to realize a percentage of the charging revenue generated.
The charging stations are part of the ChargePoint® Network, which is open to all drivers of plug-in vehicles and all manufacturers of plug-in vehicle charging stations. ChargePoint Network's unique features include:
- The ability for a station owner to set fees for use of their stations (including free charging)
- The ability for drivers to access stations without a subscription via contactless credit cards (Visa, MasterCard, AMEX, and Discover)
- 24/7/365 telephone driver support via a toll free number on all charging stations
- Smart Grid ready with built in Utility Grade Capable Metering, Time of Use (TOU) pricing and Demand Response (DR) control
- Multiple Smart Phone applications ( iPhone and Blackberry ) to find unoccupied stations and navigate to them
- The lowest operating cost possible due to real-time operational monitoring, alerts, diagnosis, and control of millions of stations
More than 20 different electric vehicles are planned to go on sale in the U.S. in the next three years and the U.S. government has backed $5 billion in investments for battery technology and consumer incentives to stimulate the market. The Chevrolet Volt, made by GM and the Nissan LEAF are due to arrive in showrooms in the U.S. in the next few months.
Icon Parking Systems operates more than 200 parking facilities in Manhattan. Many of Icon's locations are in the City's busiest and most vibrant commercial neighborhoods, others can be found near famous New York City landmarks, and many are in residential areas throughout the City. Vehicle owners can shop for monthly, hourly and daily parking, find great discount coupons offers and compare facilities by visiting Icon Parking's website at www.IconParking.com.
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, 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 111 Eighth Avenue
111 Eighth Avenue is a 2.9-million-square-foot property located at the apex of the Chelsea and Meatpacking Districts of Manhattan. The property, originally developed as the headquarters of the Port Authority of New York, occupies an entire square block between Eighth and Ninth Avenues and 15th and 16th Streets. As the second largest building in New York City it is home to a diverse tenant base including healthcare, advertising, fashion, publishing and telecom companies. The building was previously owned by an ownership group including Taconic Investment Partners, the New York State Common Retirement Fund and the German investment group Jamestown and was recently purchased by Google in 2010.
About Icon Parking Systems
Icon Parking Systems is the premier provider of parking services in New York City. The Company has been in business for more than 50 years and operates over 200 parking facilities in virtually all of Manhattan's most high profile, prestigious neighborhoods and business districts. Icon Parking Systems is on the forefront of providing unsurpassed value to city residents, commuters and visitors to the City's numerous restaurants, Broadway theatres and concert halls, event destinations, shopping outlets and medical facilities by continuing to deliver affordable parking and prompt and courteous service. For more information, please visit www.IconParking.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.
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