MIAMI BEACH, Fla., Dec. 19, 2013 /PRNewswire/ -- Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of electric vehicle (EV) charging services, announced that the company has installed a Nissan EV DC Fast Charger at Simon Property Group's (NYSE:SPG) Stanford Shopping Center in Palo Alto, California. As Northern California's premier open-air shopping and dining destination with more than 140 world-class specialty stores, ranging from luxury brands to local favorites, Stanford Shopping Center is located in the heart of Silicon Valley between El Camino Real and Sand Hill Rd. Stanford Shopping Center serves the nearby affluent communities of Palo Alto, Menlo Park, Woodside, and Atherton.
CarCharging acquired the EV charging stations at the Stanford Shopping Center through its purchase of 350Green earlier this year. However, due to lack of support from the manufacturer of the previous DC Fast charging station at the shopping mall, CarCharging elected to replace the unit with another fast charger. DC Fast chargers drastically reduce charging times, charging a fully depleted Nissan LEAF to 80 percent capacity in approximately 30 minutes. As a token of appreciation for EV drivers, CarCharging will provide free charging for the Nissan quick charger at the Stanford Shopping Center for a limited time.
Earlier this year, CarCharging and Nissan announced a joint initiative to make EV charging more readily available and to expand consumer awareness of the electric car market. As a part of the initiative, CarCharging is deploying 48 Nissan-branded quick chargers and will continue to educate consumers about how the EV charging infrastructure enhances the adoption and use of electric cars. Additionally, through its recent acquisition of the Blink Network and Blink related assets, CarCharging also assumed two agreements with Nissan, which provided $3.59 million of incentive funding for EV charging infrastructure, hardware, and installation.
"At CarCharging, we understand how much EV drivers appreciate the opportunity to rapidly recharge their cars and want to accommodate their needs," said Michael D. Farkas, CEO of CarCharging. "Given our partnerships with Simon Property Group and Nissan, we are able to provide reliable charging service that EV drivers depend on as well as the opportunity to quickly recharge."
In addition to the Nissan quick charger, two Level II EV charging stations, which provide 240 volts with 32 amps of power to recharge an electric vehicle's battery, are also available at the Stanford Shopping Center. Drivers can quickly access and pay for the Level II charging services via major credit card or mobile application.
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public electric vehicle (EV) charging services, enabling EV drivers to easily recharge at locations throughout the United States. Headquartered in Miami Beach, FL with offices in San Francisco, CA; New York, NY; Phoenix, AZ; and Barcelona, Spain; CarCharging's business model is designed to accelerate the adoption of public EV charging.
CarCharging provides a comprehensive turnkey program to commercial and residential property owners for EV charging services. CarCharging owns and operates the EV charging equipment; manages the installation, maintenance, and related services; and shares some of the EV charging revenue with the property owner. Thereby, eliminating most capital costs for the property owners and providing a potential additional revenue stream.
CarCharging has strategic partnerships across multiple business sectors including multi-family residential and commercial properties, parking garages, shopping malls, retail parking, and municipalities. CarCharging's partners include, but are not limited to Walgreens, IKEA, Wal-Mart, Simon Property Group, Equity One, Equity Residential, Forest City, Cinemark USA, Fox Studios, Facebook, PayPal, Kimpton Hotels and Restaurants, Mayo Clinic, San Diego Padres, University of Pennsylvania, Ace Parking, Central/USA Parking, Icon Parking, Rapid Parking, Parking Concepts, CVS, Related Management, Pennsylvania Turnpike Commission, Pennsylvania Department of Environmental Protection, City of Phoenix (AZ), City of Philadelphia (PA), and City of Miami Beach (FL).
CarCharging is committed to creating a robust, feature-rich network for EV charging and is hardware agnostic. CarCharging's owns the Blink network, and owns and operates EV charging equipment manufactured by Blink, Aerovironment, ChargePoint, Efacec, General Electric, Nissan, and SemaConnect. CarCharging's Level II charging stations are compatible with EVs sold in the United States including the Tesla Model S, Nissan LEAF, Chevy Volt, Mitsubishi i-Miev, Toyota Prius Plug-In, Honda Fit EV, and Toyota Rav4 EV, as well as many others scheduled for release over the next few years.
About Stanford Shopping Center
Stanford Shopping Center is Northern California's premier open-air shopping and dining destination with Bloomingdale's, Macy's, Nordstrom, Neiman Marcus, Wilkes Bashford and more than 140 world-class specialty stores, ranging from luxury brands to local favorites. Enjoy an extraordinary mix of restaurants and cafes from Fleming's Prime Steakhouse & Wine Bar, P.F. Chang's China Bistro, Max's Opera Café and The Melt, to Yucca de Lac and so many more. Shop the European Street Market for the freshest California produce and gourmet specialty foods. Breathtaking gardens, sculptures and fountains accent the garden environment that people come from all over the world to see.
Stanford Shopping Center truly is a one of a kind experience. Whatever the season, it's always magically in bloom! Experience the garden of everything. Stanford Shopping Center is located between El Camino Real and Sand Hill Rd. The Center situated in the heart of the Silicon Valley adjacent to the world renowned Stanford University Campus. Stanford Shopping Center serves the nearby affluent communities of Palo Alto, Menlo Park, Woodside, and Atherton.
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 conditions.
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SOURCE Car Charging Group, Inc.