Electric Car Stocks Breaking News: Blink Surpasses 1 Million Charge Events; ECOtality (Nasdaq:ECTY) is the First in the Industry to Reach This Milestone
SAN FRANCISCO - October 3, 2012 (Investorideas.com renewable energy newswire) ECOtality, Inc. (Nasdaq:ECTY), a leader in clean electric transportation and storage technologies, announced today it has surpassed one million EV residential charge events on its Blink Chargers. ECOtality is the first in the industry to reach this milestone.
"Through the data recorded on Blink chargers for The EV Project, we have clearly demonstrated the viability of this marketplace and continued growth of EV's across the nation," said Ravi Brar, CEO of ECOtality, Inc. "Recording more than 1 million charge events is not only an iconic milestone for ECOtality, The EV Project and the industry, but is also proof that EVs are here to stay."
Blink has also achieved another key milestone - 40 million miles of driver data recorded, and over 1.70 million gallons of gas saved. This number is up from the 880,000 charge events reported in the 2nd Quarter data ending June 30, 2012. Data collected through The EV Project is presented on a quarterly basis and can be found here: http://www.theevproject.com/documents.php.
ECOtality is the project manager of The EV Project, a research initiative to help build America's future EV infrastructure. To date, The EV Project has gathered more than 40 million miles of EV driver data that will serve to support the deployment of EVs in key markets. The project is a public-private partnership, funded in part by the U.S. Department of Energy through a federal stimulus grant and made possible by the American Recovery and Reinvestment Act (ARRA). For more information about The EV Project, please visit www.theevproject.com
About ECOtality, Inc.
ECOtality, Inc. (Nasdaq:ECTY), headquartered in San Francisco, California, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels. For more information about ECOtality, Inc., please visit www.ecotality.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
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