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Car Charging Group Inc to acquire EV charging stations in New York

CarCharging Group Inc, a leading US provider of convenient electric vehicle (EV) charging services, announced last week its intent to acquire EVPass LLC, a company which specialises in building destination and location networks for EV charging, together with its Central New York Destination Location Network (CNY Network), from Synapse Sustainability Trust, Inc.

As a result of the acquisition, CarCharging will gain destination locations throughout Central New York including the districts of Syracuse, Rome and nearby areas. The CNY Network was the first area wide transportation plan in the US to be based on the concept of providing charging services and was deployed in partnership with the New York State Energy Research and Development Authority (NYSERDA). The destination locations to be acquired will include New York’s shopping malls such as DestinyUSA, higher education institutions, entertainment venues and 39 downtown commuter parking locations in Syracuse. CarCharging will also administer the pending NYSERDA grant awarded to EVPass which includes the installation of EV charging stations throughout Upstate New York.

“Bottom line, EV sales are growing” said Michael D. Farkas, CEO of CarCharging. “EV sales in January 2013 were more than 300% greater than January 2012, and EV sales in February 2013 were nearly 330% greater than February 2012. To support the increasing EV market, it is our intent to expand our EV charging infrastructure through organic growth and acquisitions of other EV service providers. With our recent acquisition of Beam Charging and the pending acquisition of the CNY Network, CarCharging will expand its footprint throughout New York State and gain additional strategic property partners.”

Pending regulatory approval and the closing of the acquisition, Eckardt C. Beck, the Executive Director of Synapse Sustainability Trust, will join CarCharging’s Board of Dire


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