(Dallas, TX. – October 12, 2011) StockGuru Shines its Spotlight on Car Charging Group Inc. (OTCBB: CCGI), a provider of electric vehicle (“EV”) charging services. The Company announced yesterday that it has filed two separate patents for inductive wireless EV charging. The first patent is for an inductive charging station in the form of a parking bumper, which will charge EVs in parking lots and garages. The second, is to be used underneath the road, to charge EVs while they are driving. Both patents provide for a process that allows EV drivers to power and pay for their charging services wirelessly in an automatic seamless transaction. The Company closed on October 11, 2011, at $1.60, trading 15,094 shares, five times its average volume.
“We’ve patented two inductive EV technologies that will revolutionize the EV and EV charging industry,” said Michael D. Farkas, chief executive officer of Car Charging Group. “The first is a charging station designed to look and act like a parking bumper that will charge the EV wirelessly when the car tires align with the parking bumper. EV owners will not have to plug in nor will they have to interact with the charging station to pay for it – the billing will also be done wirelessly and automatically. Essentially, your car will charge from the moment it parks with no effort whatsoever on the part of the EV driver.”
“The other technology, which will take time to commercialize due to its costly implementation, is an inductive wireless charging system embedded underground,” said Farkas. “User friendly inductive charging will facilitate the widespread adoption of electric vehicles. Going to the gas station will be a thing of the past.”
Car Charging Group provides EV charging stations to property owners and managers at no charge, and conversely does not pay fees or rent to the property owners of the locations offering our charging stations. We retain ownership of our charging stations and remit a portion of the proceeds generated to the respective location’s owner.
About Car Charging Group Inc.
Car Charging Group Inc. is an owner and provider of EV charging stations with the mission to establish a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the company acquires, installs, and maintains electric vehicle charging stations while working with landowner partners to identify appropriate locations for units. The company provides charging stations away from home in customer-friendly public locations, including municipalities, shopping malls, parking garages, multi-family residential and commercial properties.
An estimated 40 million plug-in electric vehicles, such as the Nissan LEAF, Chevrolet Volt, Fisker Karma, Tesla Model S, Ford Focus EV as well as many others, are expected to be on the road by the end of this year. Car Charging Group recognizes the need to establish a comprehensive network of charging stations that deliver easy, convenient access to drivers wherever they live, work, and play. Car Charging Group seeks to become the leading provider of electric car charging services. The company launched its operations nationally in September of 2009 and is looking to expand its operations internationally.
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