Car Charging Group (CCGI.OB) Inks Deal with Icon Parking to Meet Rising EV Demand

QualityStocks would like to highlight Car Charging Group (OTCBB: CCGI), an owner and provider of electric vehicle (EV) charging stations, with the mission to build a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere.

In the company’s news Friday,

Car Charging Group, Inc., announced its pilot agreement with Icon Parking Systems, the leading parking services provider in Manhattan. Per the agreement, CCGI will provide EV charging stations at various trial locations for Icon customers.

Icon Parking operates more than 200 parking facilities in Manhattan. Many of the company’s locations are in the city’s busiest residential commercial neighborhoods, as well as near famous New York City landmarks.

As EVs gain popularity nationwide, CCGI said it hopes to smooth the transition for drivers moving to EVs.

“This partnership lays the groundwork in Manhattan to support the national roll-out of electric automobiles on the way to dealer showrooms in late 2010 from manufacturers such as Tesla Motors, the Renault and Nissan alliance, General Motors, Ford and others,” CCGI CEO Michael D. Farkas stated in the press release.

Utilizing government tax incentives, subsidies, loan guarantees and grants, CCGI can offer the EV charging stations free of charge to property owners/managers. Drivers have access to these stations, and partners are able to receive a percentage of the charging revenue generated.

Paul Regan, vice president of Operations for Icon Parking, said the agreement positions the company to address rising demand of EVs and that of environmental concerns.

“By partnering with Car Charging Group, we are poised to meet the increased demand from electric car owners while simultaneously working towards transportation solutions that are more sensitive to the environment,” Regan stated.

CCGI said it believes that as major automakers will roll out more EVs, charging stations positioned in convenient locations will help encourage EV ownership.

“Driving a vehicle with no engine and no exhaust is an attractive option to Americans so we anticipate that the upcoming introduction of mainstream electric vehicles by major manufacturers will usher in the mass adoption of electric vehicles,” Brian Golomb, director of Sales & Marketing for CCGI stated. “Access to charging stations outside of the home, at convenient locations like parking facilities, will make people more comfortable about investing in EVs and eliminate range anxiety fears.”

About QualityStocks

QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 750,000+ subscribers that receive The Daily Stock Newsletters.

To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net

Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net

Forward-Looking Statement:
This release may contain 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. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.