MIAMI BEACH, Fla. and SAN JOSE, Calif., April 3, 2012 (GLOBE NEWSWIRE) -- Car Charging Group, Inc. (OTCBB:CCGI), a nationwide provider of convenient electric vehicle (EV) charging services, today announced the Company has expanded its operations by opening an office in San Jose, California. The office, located in the heart of Silicon Valley, will support the Company's rapidly expanding nationwide operations. Ted Fagenson, Car Charging Group Chief Operating Officer, will oversee operations at the new office which will include staff focused on local and regional sales, marketing and web and mobile development.
"California was the logical choice for expanding our operations as the state leads the nation in the number of EVs sold and on the road and availability of EV charging services," said Michael D. Farkas, Chief Executive Officer of Car Charging Group, Inc. "Californians have embraced the EV lifestyle and state governmental regulators have taken groundbreaking steps to reduce auto emissions. As a result of new rules passed by the California Air Resources Board in January 2012, one in seven new cars sold in California in 2025 must be an electric or other zero-emission vehicle."
Car Charging Group already has a growing presence in California and currently provides EV charging services in Los Angeles, Oakland, Pasadena, San Francisco and Redondo Beach through partners including ACE Parking, Equity Residential and Forest City Enterprises.
"While California is leading the nation in EV adoption, the opportunities on the West Coast are tremendous," said Ted Fagenson, Chief Operating Officer of Car Charging Group. "By locating our office in the heart of Silicon Valley, we establish an important presence in the hotbed of the EV industry in close proximity to manufacturers, developers and others who are shaping the future of this exciting and rapidly expanding industry."
About Car Charging Group, Inc.:
Car Charging Group, Inc. (OTCBB:CCGI), headquartered in Miami, Florida with offices in Silicon Valley, CA, is the pioneer of nationwide public EV charging services enabling drivers to refuel anytime, anywhere throughout North America and ultimately in many high growth global markets.
CCGI provides a comprehensive turn-key electric vehicle charging service to commercial and residential property owners employing the most advanced technology, both software and hardware, to build a robust, feature-rich network attracting businesses and consumers alike. The CCGI business model is unique and accelerates the adoption of public EV charging services; all installation, maintenance and related services are paid for by CCGI reducing the capital costs for a property owner to zero. Our property partners benefit by sharing in the revenue generated from the EV charging service while enhancing green initiatives throughout their business operations. CCGI has more than 30 strategic partnerships from all sectors including municipalities, shopping malls, parking garages, governments, retail parking, multi-family residential and commercial properties totaling more than six million parking spaces with all partner locations expected to have high numbers of EVs at their locations. CCGI's partners include Ace Parking, Central Parking, Equity Residential, Icon Parking, Rapid Parking, USA Parking, Walgreens, The Pennsylvania Department of Environmental Protection, The City of Miami Beach, The City of West Palm Beach and others. 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 forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. 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.