BMW i Ventures Announces Strategic Investment in Coulomb Technologies

NEW YORK, July 24, 2012 /PRNewswire/ -- BMW i Ventures today announced that it is making a strategic investment in Coulomb Technologies.  Coulomb's ChargePoint is the largest online global charging network, connecting electric vehicle drivers to charging stations in more than 14 countries. The investment by BMW supports the development of infrastructure for plug-in electric vehicles. ChargePoint provides the most feature-rich solution for station owners and EV drivers alike, with innovations in software services from mobile applications to vehicle telematics. ChargePoint's charging solutions provide station owners the tools they need to help better manage their charging services, including the ability to locate and reserve stations, set pricing, process payments, track station utilization and energy costs and provide driver support.

"We are delighted to have one of the world's premier automakers join our investor team," said Pat Romano, president and CEO of Coulomb Technologies. "We look forward to working with BMW to expand our global footprint and help support the adoption of electric vehicles worldwide."

"BMW i Ventures recognizes the importance of a global charging network for electric vehicle drivers," said Dr. Ulrich Quay, Managing Director of BMW i Ventures. "BMW is focused on providing comprehensive services that make the charging of BMW electric vehicles a premium experience. ChargePoint is the largest, longest established network with a significantly advanced and mature feature set. This investment will forge a close and strategic relationship as we further our electric mobility offer."

About ChargePoint
ChargePoint is the largest online global charging network connecting electric vehicle drivers to charging stations in more than 14 countries. ChargePoint offers service plans of cloud-based solutions that handle all driver billing and support. This provides organizations the control and flexibility they need to optimize performance of their electric vehicle charging operations. Open to all charging station manufacturers, stations on ChargePoint are currently dispensing over 577 Megawatt hours of energy each month, with drivers plugging in for more than 3,300 charging sessions per day.  For more information: visit www.chargepoint.com.  Follow us on Twitter @chargepointnet.  Like us on Facebook @ChargePoint.

ChargePoint.  Access anywhere.  Go everywhere.

About BMW i Ventures
BMW i Ventures is BMW Group's Venture Capital unit and is based in New York City. BMW i Ventures invests in early and mid-stage high-potential companies in the area of Mobility Services. These are services that make mobility smarter, more efficient and more flexible. The company aims for strategic, long-term partnerships in particular in the areas of e-mobility, navigation, parking, car sharing and intermodal mobility solutions. 

BMW Group In America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and the Rolls-Royce brand of Motor Cars; DesignworksUSA, a strategic design consultancy in California; a technology office in Silicon Valley and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is part of BMW Group's global manufacturing network and is the exclusive manufacturing plant for all X5 and X3 Sports Activity Vehicles and X6 Sports Activity Coupes. The BMW Group sales organization is represented in the U.S. through networks of 338 BMW passenger car and BMW Sports Activity Vehicle centers, 139 BMW motorcycle retailers, 114 MINI passenger car dealers, and 32 Rolls-Royce Motor Car dealers.  BMW (US) Holding Corp., the BMW Group's sales headquarters for North America, is located in Woodcliff Lake, New Jersey.

Information about BMW Group products is available to consumers via the Internet at:  www.bmwgroupna.com

Journalist note: Information about BMW Group and its products in the USA is available to journalists on-line at www.bmwgroupusanews.com and www.press.bmwna.com. 

SOURCE BMW of North America, LLC