TOLLAND, Conn., April 25, 2017 /PRNewswire/ -- Lot 78, Inc. (OTCPink: LOTE), Lot 78, Inc.'s Juice Bar Electric Vehicle Charger (www.juicebarev.com) was chosen as supplier for a SMUD (Santa Monica Utility District) electric vehicle charging station pilot project, slated for a term of 5 years with an option to renew for an additional 5 years. Juice Bar's Mini Bar Double Level 2 electric vehicle charging station met the requirements as part of the RFP, and was chosen based on their ability to meet and deliver the services required.
LOTE CEO David Schmid, "Our Juice Bar Electric Vehicle Charger is excited and honored to be associated with world class utility providers such as the Santa Monica Utility District. Part of our tiered go to market strategy includes working alongside Utility Companies to promote sustainable urban mobility. Pilot program awards such as this one validate our product's competitiveness in the marketplace."
SMUD is the nation's sixth largest community owned electric service provider, providing electricity for more than 65 year to Sacramento County. Servicing an area that has a population of 1.4 million, with 624,770 residents and business accounts SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies, and for its sustainable solutions for a healthier environment.
ABOUT LOT 78, INC. The Company was incorporated in the State of Nevada on June 27, 2008. On March 14, 2011, the Company filed a Certificate of Amendment with the Secretary of State of Nevada changing the name of the Company to "Bold Energy, Inc." On November 12, 2012, the Company, then under the name Bold Energy, Inc., entered into a Share Exchange Agreement with Anio Limited a limited liability company established under the laws of the United Kingdom ("Anio Ltd."), which conducts its primary line of business under the name Lot78, Inc., the shareholders of Anio Ltd., and the controlling stockholders of the Company. The company changed names to Lot78, Inc. on January 31, 2013. On July 15, 2016, the Company entered into a Letter of Intent to merge with Compound Holdings, LLC, a Connecticut limited liability company. Subsequently, on July 18, 2016, the Company and Compound Holdings LLC entered into a definitive Agreement and Plan of Merger. Pursuant to the plan of merger, upon closing, the Company intends to change its name to Compound Holdings, Inc.
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SOURCE Lot 78, Inc.