ECOtality, Inc. (ETLE.OB) Branches Out into Australian Market by Establishing a New Subsidiary

In the company’s news yesterday,

ECOtality, Inc. announced the formation of a new, wholly-owned subsidiary, ECOtality Australia Pty Limited (EAPL). To be headquartered in Brisbane, Queensland, EAPL will focus on the marketing and distribution of charging equipment for batteries used in a variety of applications, including industrial equipment, on-road electric vehicles (EV), and electric airport ground support equipment (GSE).

ECOtality CEO Jonathan Read noted that EAPL would be “well positioned” to exploit Australia’s “emerging market for plug-in electric vehicles” by harnessing ETLE’s “industry-leading EV experience and advanced battery charging technologies”.

Mr. Read also pointed out that ETLE – as “one of the first to introduce fast-charging to Australia” – could significantly impact the industrial markets with its innovative technology that enhances productivity while reducing air pollution, fuel expenditures and operating cost.

A key factor in the overall business strategy for EAPL was spelled out by Mr. Read as “facilitating the transition to clean electric transportation by providing charging solutions to support the successful introduction of electric vehicles” in Australia, where the EV market is still in its infancy.

Australia’s EV market has massive growth potential with 13M EVs currently on the road, another 900K being sold each year, and major manufacturers like Mitsubishi and Renault-Nissan slated to bring new EV’s to market by 2011.

Additional support in developing the Australian EV industry will come from another of ETLE’s wholly-owned subsidiaries, the U.S.-based Electric Transportation Engineering Corporation (eTec), whose track record boasts such feats as playing a key role in every major EV initiative in North America for the last two decades.

One example of ETLE’s innovation is the proprietary line of Minit-Charger fast-charge systems. Initially designed for on-road EV applications, this technology has seen in excess of 10 years of industrial use in airports throughout North America, and is able to charge batteries rapidly, safely and without the risk of overcharging.

In fact, the many revolutionary aspects of this technology – which can provide a charge in only 15 minutes – make it highly cost effective and attractive to consumers, actually extending the lifespan of the batteries while streamlining EV usage from the end-user standpoint.

ECOtality further cemented its leadership role at the end of last year when it was awarded a $100M grant from the United States Department of Energy to pilot The EV Project, funded under the American Recovery and Reinvestment Act (ARRA). It was the largest single EV and charge infrastructure project ever undertaken with a total value exceeding $200M. The Project encompasses home, public and commercial charge stations in 5 states (Arizona, California, Oregon, Washington, and Tennessee) in conjunction with the debut of a fleet of 4,700 zero-emission EV’s (Nissan LEAFs).

The appointment of Mr. Peter Nimmo to the Asia Pacific Operations Executive position and Mr. Kevin Campbell as Asia Pacific Business Development Manager are additional steps being taken by ETLE to facilitate overall operations during the roll-out process of EAPL.

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