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Car Charging Group to Explore and Develop Growth Opportunities in Europe

MIAMI BEACH, Fla., Jan 10, 2012 (GlobeNewswire via COMTEX) — Car Charging International, LLC, a wholly-owned subsidiary of Car Charging Group, Inc. /quotes/zigman/4181752 CCGI 0.00% , a provider of electric vehicle (“EV”) charging services, has retained Mark Kriek to explore and develop various growth opportunities in Europe.

“As the European EV market continues to evolve, we believe that Mark Kriek’s experience in Europe, the Middle East and Africa will allow us to create beneficial strategic partnerships in Europe,” said Michael D. Farkas, Chief Executive Officer of Car Charging Group, Inc. “Mr. Kriek’s experience in forming part of the team that deployed the Coulomb Technologies’ solution which resulted in the installation of more than 500 charging stations within a ten month period across Europe makes him qualified to oversee our European operations.”

“A tremendous growth opportunity exists in Europe,” said Mark Kriek. “France has already committed to making EVs mainstream as charging stations will be mandatory in new apartment blocks by 2012 and in all parking lots by 2015 with the French government committing $2.2 billion on creating a battery-charging network for EVs. The EV value proposition in Europe is tremendous given the high cost of fuel, with EVs on average saving 90% in fuel costs per mile compared to gasoline powered vehicles. As a result, consumer interest in EVs is substantial and I look forward to working with the Company to leverage its expertise in the EV market throughout Europe.”

Mark Kriek has a background in infrastructure project finance covering projects in Africa and the Middle East. From [2006] until 2008, he worked for Cisco Capital Inc. structuring large telecommunications infrastructure deals. In 2008, Mr. Kriek joined a venture capital firm and invested in Silicon Valley-based Coulomb Technologies, a leader in E-Mobility infrastructure. He formed part of the team that deployed the Coulomb Technologies’ solution which resulted in the installation of more than 500 charging stations within a ten month period across Europe. Frost & Sullivan awarded Mr. Kriek with the Best Practice 2009 award in the sector of Electric Mobility. Mr. Kriek has a degree from the Royal Dutch Military Academy.

About Car Charging Group, Inc.

Car Charging Group, Inc. /quotes/zigman/4181752 CCGI 0.00% , headquartered in Miami, Florida, is the pioneer and one of the nation’s fastest growing providers of EV charging services. Our ultimate mission is to establish a nationwide infrastructure, enabling EV and Plug-in Hybrid Electric Vehicle (PHEV) owners to charge their EVs anytime, anywhere in North America and ultimately Europe and Asia. Our strategy is to be a “first in” strategic partner with businesses, municipalities, shopping malls, parking garages, multi-family residential and commercial properties, and others who are expected to have high numbers of EVs at their locations. After strategically assessing the most suitable and visible locations with our facility partners, we install and maintain the EV charging stations at no cost to our partners. Our partners benefit by sharing in the revenue generated from the EV charging stations while enhancing green initiatives throughout their business operations. Since we launched operations in 2009, we have developed contractual relationships with 29 leading partners that own more than 6.4 million parking spots. More than one million plug-in electric vehicles, such as the Nissan LEAF, GM Chevrolet Volt, Fisker Karma, Tesla Model S, Ford Focus EV as well as many others, are expected to be on the road in the U.S. by 2015 with estimates calling for more than 40 million on the road worldwide in 2030. For more information about Car Charging Group, Inc., please visit www.CarCharging.com .

Forward-Looking Safe Harbor Statement:

This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of Car Charging Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Car Charging Group, Inc.

CONTACT: Investor Relations and Media Contact:
Kevin S. Inda
Corporate Communications, Inc. (CCI)
for Car Charging Group, Inc.
kevin.inda@cci-ir.com
407-566-1180
Source marketwatch.com

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