New Approved Standard Expands Charging Opportunities for Electric
Michael D. Farkas, CEO of CarCharging, to Discuss Fast Charging in
Closing Keynote at the 2012 Charging Infrastructure Conference
MIAMI BEACH, FL -- (Marketwire) -- 10/31/12 -- Car Charging Group,
Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of
convenient electric vehicle (EV) charging services, announced its
endorsement of the Society of Automobile Engineers' (SAE) "J1772(TM)
EV and Plug In Hybrid EV Conductive Charge Coupler." The new charge
coupler, which was announced by SAE on October 15, 2012, will serve
as the new standard plug for connecting EV charging stations to EVs
and Plug In Hybrid EVs in order to charge the vehicle's battery.
Currently, the SAE's original version of the J1772(TM) has served as
the standard connector for EV charging stations and is compatible
with EVs sold in North America. However, the original J1772(TM)
defined the electric current as AC rather than DC, which prohibited
most EVs from utilizing DC Fast Charge stations due to the
incompatibility of the charging station's connector. With the
coupling of AC and DC level charging in the new revised J1772(TM),
fast charging stations with the new standard connector will provide
fast charging opportunities for the EVs sold in North America.
According to the SAE's October 15, 2012 press release, the new
standard could reduce charging times from as long as eight hours to
as short as 20 minutes.
"We are elated about the approval of the J1772(TM) EV and Plug In
Hybrid EV Conductive Charge Coupler," said Michael D. Farkas, CEO of
CarCharging. "The new standard coupler provides a wider range of
charging opportunities for EVs, which will not only reduce their
charging times, but should also reduce 'range anxiety' and expand the
adoption of EVs."
Mr. Farkas will discuss fast charging opportunities in the Closing
Keynote presentation at the 2012 Charging Infrastructure Conference
on November 15th, 2012 in Novi, Michigan. In the presentation, Mr.
Farkas will discuss EV charging station levels, potential charge
times, and the future AC Fast Charging.
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB:
CCGI) is a pioneer in nationwide public EV charging services,
enabling drivers to easily recharge anytime, anywhere throughout the
United States. CarCharging provides a comprehensive turnkey electric
vehicle charging service to commercial and residential property
owners. Employing the most advanced technology, CarCharging is
committed to creating a robust, feature-rich network for EV charging.
Headquartered in Miami Beach, FL with offices in San Jose, CA and
Barcelona, Spain, CarCharging's business model is designed to
accelerate the adoption of public EV charging services. CarCharging
pays for all installation, maintenance and related services;
therefore, eliminating capital costs for property owners.
CarCharging has more than 40 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 Ace Parking, Central Parking, Equity One, Equity Residential, Icon
Parking, Rapid Parking, Related, USA Parking, Walgreens, the
Pennsylvania Department of Environmental Protection, the City of
Miami Beach, Florida, the City of Hollywood, Florida and the City of
Norwalk, Connecticut that manage or own a total of 6.5 million
For more information about CarCharging, please visit
For more information about the 2012 Charging
Infrastructure Conference, please visit www.chargingexpo.com.
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
Investor Relations and Media Contacts:
CarCharging Media Contact:
(305) 521-0200 x 214
CarCharging Investor Relations:
Constellation Asset Advisors, Inc.
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