Citing an initial infusion of $1 million and the expectation of $1.5 million more within 60 days, the Miami Beach-based Car Charging Group is setting up Car Charging Europe, in which the investors will hold 5%.
“Like us, our investors believe in the significant growth opportunities that exist in the European EV marketplace as well as our ability to leverage our success in the United States into Europe,” CEO Michael Farkas said in a release.
“Europe represents a very exciting opportunity as EVs are rapidly becoming mainstream due to the high cost of fuel, significant governmental support and widespread consumer interest,” Farkas said. “We are exploring a number of innovative projects that would significantly expand our operations and footprint in Europe.”
“This investment will accelerate our European initiatives.”
Car Charging Group, Inc. (OTCBB:CCGI), promises “a comprehensive turn-key electric vehicle charging service to commercial and residential property owners employing the most advanced technology, both software and hardware, to build a robust, feature-rich network attracting businesses and consumers alike.”
Shopping Malls and Much Much More
Installation, maintenance and related services are paid for by CCGI, “reducing the capital costs for a property owner to zero.” The firm has more than 30 strategic partnerships from all sectors including municipalities, shopping malls, parking garages, governments, retail parking, multi-family residential and commercial properties “totaling more than six million parking spaces with all partner locations expected to have high numbers of EVs at their locations.”
CCGI partners in the U.S. include Ace Parking, Central Parking, Equity Residential, Icon Parking, Rapid Parking, USA Parking, Walgreens (F&F, September 26), and various government entities.
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