Car Charging Group Inc. (OTCBB:CCGI), a provider of electric vehicle (EV) charging services, announced a partnership with Central Parking System Inc. and its subsidiary, USA Parking System Inc., the nation's largest parking garage operator, to provide EV charging services at locations nationwide via Coulomb Technologies' ChargePoint® Network.
"There are close to 17,000 parking garages in the U.S., and they will play one of the most vital roles in the development of a national EV charging infrastructure," said Brian Golomb, Director of Sales of Car Charging. "By partnering with two of the most important companies in this sector – companies that understand the benefits of electric vehicles – we will move much quicker in the rollout of this nationwide infrastructure."
Car Charging Group plans to install EV charging stations at sites owned by the two parking garage operators. The operators have 2,200 locations nationwide with 1.1 million parking spaces.
As part of the agreement, Central Parking has the right to purchase five percent of the Common Stock of Car Charging Group. "We are very excited about this partnership, because it will greatly expand the reach of our nationwide EV charging network," said Michael Farkas, CEO of the Miami Beach, Fla.-based Car Charging Group. "Furthermore, we hope to further enhance our already strong relationship with these companies by giving Central Parking the opportunity to be a shareholder in our company and to take part with us in electrifying the U.S. transportation system."
Central Parking believes that electric vehicles can make a difference in the transportation sector, and they look forward to being a partner in building a nationwide network of EV charging stations.
"Electric vehicles are no longer a mirage – they are becoming an ever increasing presence on our roads and we are proud to be working with such an innovator in the EV sector," said James Marcum, CEO of Central Parking Systems. "By installing EV charging stations in our garages, we will be providing added services to our clients and strengthening our position as an industry leader in environmentally-friendly initiatives."
USA Parking System, a wholly owned subsidiary of the Nashville, Tenn.-based Central Parking System Inc. also aims to benefit both the clients and the environment through its agreement with Car Charging.
"We are proud to be working with Car Charging Group in helping to expand the critical infrastructure necessary to make EVs a mainstay of our transportation sector," said William Bodenhamer, president and CEO of USA Parking. "Already leaders in the parking garage industry, we look forward to becoming corporate leaders in environmental sustainability efforts as well."
Car Charging Group provides EV charging stations at no charge to property owners/managers while retaining ownership, thus allowing their partners to offer their customers, tenants and employees charging services without incurring any outlay of capital. In addition, Car Charging Group's partners realize a percentage of the charging revenue generated by the charging services paid for by the EV owners.