MIAMI BEACH, Fla. and AMSTERDAM, The Netherlands, May 8, 2012 (GLOBE NEWSWIRE) -- Car Charging Group, Inc. (OTCBB:CCGI), an international provider of convenient electric vehicle (EV) charging services, today announced it has signed an agreement with Energy Related Services N.V. a subsidiary of Vattenfall, one of Europe's largest generators of electricity to provide EV charging services to customers in the Netherlands. Both companies will work together to develop innovative EV charging services for the rapidly growing EV market in the Netherlands. The companies are targeting segments including residential leasing and subscriptions, corporate fleet management, and semi-public locations including retail and centers of entertainment. The agreement also provides for expansion into other European markets, including Belgium, Germany and Sweden.
"This partnership is a tremendous opportunity for our company to test the acceptance of EV charging services in multiple business and consumer applications within the Dutch market," said Michael D. Farkas, Chief Executive Officer of Car Charging Group, Inc. "EV acceptance in the Netherlands is extremely high and we believe that our initiatives with Energy Related Services N.V. will further accelerate EV growth and adoption. This agreement positions us very well to further expand our European operations."
Energy Related Services N.V, will be responsible for installing and maintaining the EV charging stations and also will provide marketing, sales and support to its customer base. Car Charging Europe will jointly participate with strategy, electric vehicle data and service acceptance and support. The first joint projects will be used to benchmark the customer propositions optimizing both Energy Related Services N.V. and Car Charging's execution capabilities.
"The growth opportunities for public EV charging in Europe are immense and our partnership with Energy Related Services N.V. certainly validates this position," said Mark Kriek, Senior Vice President, Car Charging Group, Inc. "The markets we are jointly trying to penetrate in the Netherlands for EV charging services include office buildings, apartments and multi-tenant buildings. We are also developing services specifically geared towards fleet management. Until now, energy companies in Europe have not marketed EV charging services directly to their customers."
"Energy Related Services N.V. is committed to E-mobility and our top priority when it comes to charging of EVs is to make it as convenient as possible for the customer," said Rard Rijcken, Vice President VF Energy Related Services. This is a great opportunity to make the overall solution for existing and new customers in the public and private segment more complete and we look forward to bring this attractive solution to the market."
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCBB:CCGI), is a pioneer in nationwide public EV charging services, enabling drivers to easily refuel anytime, anywhere. Car Charging Group provides a comprehensive turnkey electric vehicle charging service to commercial and residential property owners. Employing the most advanced technology, both software and hardware, Car Charging Group has built a robust, feature-rich network for EV charging.
Car Charging Group's headquarters is in Miami, FL with offices in San Jose, CA and in Barcelona, Spain. The Car Charging Group's business model is designed to accelerate the adoption of public EV charging services. All installation, maintenance and related services are paid for by Car Charging Group thereby reducing the capital costs for a property owner to zero. Car Charging Group's property partners benefit by sharing in revenue generated from the EV charging service while enhancing green initiatives throughout their business operations.
Car Charging Group has more than 30 strategic partnerships with organizations across business sectors, including municipalities, shopping malls, parking garages, retail parking, and multi-family residential and commercial properties, accommodating more than six million parking spaces. Car Charging Group'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, including the Nissan LEAF, GM Chevrolet Volt, Fisker Karma, Tesla Model S, Ford Focus EV and Toyota Prius Plug-in Hybrid among 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.
About Energy Related Services N.V.
Energy Related Services N.V. is based in Amsterdam, the Netherlands with offices covering the whole of the Netherlands. ERS is a nationwide service and installation company offering products and services that form part of sustainable energy related solutions. ERS focuses on decentralized generation and energy efficiency propositions next to mobility related propositions. ERS has a turnover of about 265 million euro and provides a skilled workforce of 2000 employees working for more than a million residential and public customers. ERS works via a number of partnerships to provide the best solutions for its customers. ERS forms part of the Vattenfall group, one of the largest energy companies of North West Europe, focusing on its core countries Sweden, Germany and the Netherlands
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. Car Charging Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changes.