SOURCE: Car Charging Group, Inc.
MIAMI BEACH, FL--(Marketwire - Aug 16, 2012) - Car Charging Group, Inc. (OTCQB: CCGI) (OTCBB: CCGI) ("CarCharging") now offers quick and easy electric vehicle (EV) charging services at Bethesda Row and Rockville Town Square in Maryland and Pentagon Row in Virginia. Owned by Federal Realty Investment Trust (NYSE: FRT), these premier mixed-use neighborhood properties boast vibrant retailers, restaurants, salons and spas, office space, and apartments in dynamic and highly populated districts. EV charging services are now being offered at these three locations and are servicing drivers seeking EV charging for their vehicles.
"With a growing number of our residents and visitors now driving EVs, we wanted to provide EV charging services to give them the convenience of recharging while at work or shopping at these mixed-use Maryland and Virginia properties," said Michael Kelleher, Vice President of Asset Management for Federal Realty. "Working with CarCharging to provide these services, we are very pleased to offer our residents and customers a shared amenity and a convenient location to recharge their EVs on our property."
"CarCharging continues to extend the footprint of our EV charging services throughout the Northeast and across the country, to support growing sales of electric vehicles and increased consumer demand for publicly accessible EV charging services," said Michael D. Farkas, CEO of CarCharging. "CarCharging is committed to delivering convenient EV charging services to provide all EV drivers with easy access to our services."
CarCharging's services utilize EV charging stations manufactured by Coulomb Technologies, known as Level II, which provide 240 volts with 32 amps of power to quickly refuel an electric vehicle's battery. EV drivers can easily register and create a CarCharging account online, and attach a small card to their keychain to initiate use and payment at any intelligent CarCharging station. The CarCharging RFID card also allows drivers to use charging locations on the ChargePoint® Network, the largest national online network connecting EV drivers to EV charging stations. CarCharging also accepts direct payment via credit card.
Users can pinpoint EV charging station locations using the CarCharging map at http://www.CarCharging.com/. The ChargePoint® mobile application for the iPhone, Android, and BlackBerry phones also provides real-time charging station location information with turn-by-turn directions. Drivers will soon be able to reserve a time slot, guaranteeing access to EV charging stations to recharge their electric vehicle.
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public EV charging services, enabling drivers to easily refuel 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 has built 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. All installation, maintenance, and related services are paid for by CarCharging; thereby, 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 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.
About Federal Realty
In 2012, Federal Realty (NYSE: FRT) celebrates 50 years of being a proven leader in the ownership, operation, and redevelopment of high quality retail real estate in the country's best markets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 19.2 million square feet located primarily in strategically selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. The Trust's operating portfolio (excluding joint venture properties) was 94.2% leased to national, regional, and local retailers as of June 30, 2012, with no single tenant accounting for more than 2.5% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 45 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT. For more information, please visit www.federalrealty.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. Car Charging Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed circumstances.