New Approved Standard Expands Charging Opportunities for
New Approved Standard Expands Charging Opportunities for Electric Vehicles
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 parking spaces.
For more information about CarCharging, please visit www.CarCharging.com. 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 conditions.
Investor Relations and Media Contacts:
CarCharging Media Contact: Suzanne Tamargo Suzanne@CarCharging.com (305) 521-0200 x 214
CarCharging Investor Relations: Constellation Asset Advisors, Inc. www.ConstellationAA.com (415) 524-8500