CarCharging Announces 2014 Annual Report
December 09 2015 - 8:30AM
Marketwired
CarCharging Announces 2014 Annual Report
Largest Electric Vehicle Charging Service Owner, Operator, and
Provider Realized Continued Growth in 2014
MIAMI BEACH, FL-(Marketwired - Dec 9, 2015) - Car Charging
Group, Inc. (OTCQB: CCGI) ("CarCharging") the largest owner,
operator, and provider of electric vehicle (EV) charging services,
announced its financial results for the fiscal year ended December
31, 2014. During 2014, CarCharging completed numerous initiatives
and enhancements to the Blink Network.
2014 Highlights*
- EV Charging hardware sales grew nearly 11x from $47,636 to
$565,057
- EV Charging Service fees grew nearly 4x from $307,663 to
$1.49M
- Grant/rebate revenue recognized grew nearly 10x from $90,796 to
$950,358
- Annual kilowatt-hour charging output grew nearly 4x from
281,107 to 1.46M
The Company's audited financial results appear in the Company's
Annual Report on Form 10-K, which was filed with the SEC on
Tuesday, December 8, 2015.
"2014 was a transitional year for CarCharging as we integrated
the four EV charging providers that were acquired in 2013," stated
Michael D. Farkas, CarCharging's Chief Visionary Officer. "In 2014,
CarCharging converted contracts with large retailers, parking
management firms, and property owners from ECOtality to
CarCharging, resumed sales of Blink HQ, a residential EV charging
station, adjusted EV charging fee pricing policies; and introduced
various Blink Network enhancements, including kilowatt-hour (kWh)
pricing and remote start functionality from the Blink mobile app.
CarCharging also began participating in Nissan's No Charge to
Charge program, which provided an additional stream of revenue for
the company."
The company will continue to work diligently on completing and
filing its 2015 quarterly financials.
About Car Charging Group, Inc. Car Charging Group, Inc. (OTCQB:
CCGI) is a pioneer in nationwide public electric vehicle (EV)
charging services, enabling EV drivers to easily recharge at
locations throughout the United States. Headquartered in Miami
Beach, FL with offices in San Jose, CA; New York, NY; and Phoenix,
AZ; CarCharging's business model is designed to accelerate the
adoption of public EV charging.
Through its subsidiary, Blink Network, CarCharging also provides
residential EV charging solutions for single-family homes. For more
information, please visit www.BlinkHQ.com.
CarCharging has strategic partnerships across multiple business
sectors including multi-family residential and commercial
properties, parking garages, shopping malls, retail parking, and
municipalities.
For more information about CarCharging, please visit
www.CarCharging.com, www.facebook.com/Car.Charging, or
www.twitter.com/CarCharging.
Forward-Looking Safe Harbor Statement: This press release
contains forward-looking statements as defined within Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. By their nature,
forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the near future. 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
conditions.
Contact Information
Investor Relations and Media Contacts: CarCharging Media
Contact: Suzanne Tamargo Suzanne@CarCharging.com (305) 521-0200 x
214
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