GREAT NEWS FOR HYBRID CAR OWNERS
The real thing is finally coming
When Hybrid cars first arrived on the scene in the 1990’s many of us who cared about our environment were the first purchasers of such cars. Later on as governmental tax rebates coupled by better looking, faster sleeker cars more main stream people began to purchase such cars. When a person drives a Hybrid for the first time they do not see much of a difference until their first traffic stop at an intersection – the engine shuts down and the quite battery kicks in. Your first reaction based on previous experience is to re-start the car, but when the light turns green and the foot hits the gas peddle the car moves into motion until the combustion power kicks in.
A commonality of the gasoline-electric hybrids is that they use their transmission and regenerative braking to recharge their battery pack. What does this all mean, perhaps some better mileage less pollutants in the air, but most of all, perhaps owning a Hybrid serves as the proverbial “slap on the shoulder” for doing well on the environment.
The reality however is quite different; a Hybrid still goes to the gas station, fills up at the pump and leaves the hydro carbons in the air. Regular combustion engine cars that are designed for fuel efficiency also match many of the Hybrids in pollutant release and mileage. So what is a Hybrid exactly? I believe Carlos Ghosn CEO and President of Renault of France and Nissan of Japan put it quite nicely when he said Hybrids are like mermaids when you want fish you get a woman and when you need a woman you get a fish. Meaning a Hybrid does can not compete with a regular car and it isn’t an electric vehicle either. So what’s the great news for Hybrid car owners? The great news is that thanks to a combination of government polices, car manufacturing commitments and the building of an infrastructure, Hybrid owners will soon be able to trade their mermaids for either a next generation hybrid whose electric power is not fed by a combustions engine, but is able to plug in, or for us “Greenies” purchase a fully 100% functioning Electric Car.
Just look at the numbers there are currently eighty-two electric car manufacturers in the world in the US alone the number is over thirty. Nissan, Renault and General Motors, Honda just to name a few are mass producing the electric cars and the new Hybrids where they can actually plug in and run on their battery leaving the gas as an emergency reserve.
This leaves us with an electric charging infrastructure for all those future cars to charge their cars. With what could only be described as monumental, Car Charging Group Inc a publicly traded company on the OTCBB as CCGI has already begun to build what will be the largest electric charging station infrastructure network in the United States. Imagine, seeing chargers in your building at work, home, government office, mall, hotel, or just in any parking lot. CCGI is doing just that county by county, city by city and town by town. How are they accomplishing that? They have a unique business model, strong leadership and a determination to make a difference. To quote from their web site:
“Dealers and distributors SELL charging units which requires a capital outlay by the business / property owner for the units themselves as well as installation costs and municipal permitting fees. Once they are sold, the dealers and distributors have nothing more to do with them. We do not sell our units. We provide, install, maintain and service the units at no cost to the business / property owner. We provide a service for a fee borne only by the EV owner.”
This model definitely is the way to go as it allows for rapid growth. Since the site owner i.e., a hotel or municipality do not pay for the outlay and can provide their customers and citizens respectively, with the ability to drive their electric car at a convenient location to charge.
Additionally, the CCGI strategy is well grounded. According to CCGI, the government is estimating approximately 40 million plug-in electric vehicles on the road by 2030, the need to establish charging station networks throughout the transportation infrastructure is critical to providing easy access to energy everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group seeks to become the leading provider of electric car charging stations. The Company initially plans to launch its service in the South Florida market and expand nationally and internationally over time. Car Charging Group, Inc., is based in Miami, Florida
Welcome to a new world.
Thursday, February 25, 2010
Thursday, February 18, 2010
Car Charging Companies and Investing in Real Estate.
Strange as it sounds in the post real estate fiasco of 2007-2208, a few companies I read about are doing just that. No they are not investing in warehouses, apartments, or houses. What they are interested in is a small piece of real estate the size of your parking spot. In fact, it is you parking spot they are looking for.
What was once a “Chicken or the Egg” debate with Electric cars has been decided for the most part by US government policy. The US is providing many incentives for the development and manufacturing Electric vehicles and its infrastructure. A company such as Tesla Motors would not have been where it is today, or where it will be tomorrow without the benefit of such governmental policies. Other companies the see the writing on the wall,or in this case the cord in the wall, are Car Charging Group Inc. and Better Place. They both have embarked albeit different models to build the US EV infrastructure. Better Place seems to focus on the complete value chain in EV process - from selling their own car for their own charging network (your parking spot), their own chargers and technology.
Their model is complex with little room for flexibility to market reactions. We saw this once before when both Apple Computer and Microsoft first came on to the scene. Apple's approach was similar to Better Place and they never until recently had any serious growth. Microsoft on the other hand used a different model where they licensed their technology to everyone. They went on grow onto a colossus. Car Charging Group Inc., CCGI is taking a similar fundamental approach – the real estate. The more spaces, the more charges the more use. CCGI models allows for agility in the use of multiple technologies. This leaves them with the core business of getting the real estate for the infrastructure (your parking spot). Look at it this way. Many municipalities are holding tenders to purchase EV charges for their cities and CCGI offers them the machines for $0.0 with a revenue share. You do the math.
What was once a “Chicken or the Egg” debate with Electric cars has been decided for the most part by US government policy. The US is providing many incentives for the development and manufacturing Electric vehicles and its infrastructure. A company such as Tesla Motors would not have been where it is today, or where it will be tomorrow without the benefit of such governmental policies. Other companies the see the writing on the wall,or in this case the cord in the wall, are Car Charging Group Inc. and Better Place. They both have embarked albeit different models to build the US EV infrastructure. Better Place seems to focus on the complete value chain in EV process - from selling their own car for their own charging network (your parking spot), their own chargers and technology.
Their model is complex with little room for flexibility to market reactions. We saw this once before when both Apple Computer and Microsoft first came on to the scene. Apple's approach was similar to Better Place and they never until recently had any serious growth. Microsoft on the other hand used a different model where they licensed their technology to everyone. They went on grow onto a colossus. Car Charging Group Inc., CCGI is taking a similar fundamental approach – the real estate. The more spaces, the more charges the more use. CCGI models allows for agility in the use of multiple technologies. This leaves them with the core business of getting the real estate for the infrastructure (your parking spot). Look at it this way. Many municipalities are holding tenders to purchase EV charges for their cities and CCGI offers them the machines for $0.0 with a revenue share. You do the math.
Better Place, is it really Better?
I recommend to anyone with an interest in the environment and in particular, the electric car revolution that is coming to a place near you, view this professionally made video about Better Place. It's really worth it.
http://www.youtube.com/watch?v=bp78rfNkfrY&NR=1
Kudos to Better Place for brings the vision of Electric Vehicles to the main stream.
When viewing it a second time however, I noticed there was a reoccurring theme – they are making deals with governments, with car manufactures and in Israel’s case, plans to install hundreds of thousands of charges all over the country. What strikes me as odd is that it seems that they are looking to control the entire EV infrastructure. Imagine one company to fill up your gas tank, one company to use a mobile phone, one company controlling media. Personally, I find it pretty freighting.
Think about it; according to the video Better Place wants you to buy an EV from them, connect to their charger and have a computerized system that tells you where to “juice up” or, replace a battery and guess what –they also tell you what to pay.
A similar correlation may be found in US history with Standard Oil and ATT. Both companies had their roots in the late 19th and early 20th century America. Standard oil was begun and controlled by John D. Rockefeller and for a while controlled every aspect of oil in the USA - from drilling, processing distribution all the way to the end user. Remember ATT? They were once the only telephone company - everywhere. They owned the infrastructure, cables and everything; even one’s telephone. Thanks to US anti trust laws, they were declared monopolies and soon enough “broken up.” If that never happened imagine what the world would look like today without competition and innovation.
I do not see Better Place having hegemony in the USA, for starters Americans like to have competition, it creates flavor, innovation and most of all lower prices for you and me. Car Charging Group Inc., a public company trading as CCGI, is the only company I know that is actively building an EV infrastructure. They offer a unique business model and have recently expanded overseas. CCGI’s contribution to the US EV infrastructure as with others will truly provide a better place for all.
http://www.youtube.com/watch?v=bp78rfNkfrY&NR=1
Kudos to Better Place for brings the vision of Electric Vehicles to the main stream.
When viewing it a second time however, I noticed there was a reoccurring theme – they are making deals with governments, with car manufactures and in Israel’s case, plans to install hundreds of thousands of charges all over the country. What strikes me as odd is that it seems that they are looking to control the entire EV infrastructure. Imagine one company to fill up your gas tank, one company to use a mobile phone, one company controlling media. Personally, I find it pretty freighting.
Think about it; according to the video Better Place wants you to buy an EV from them, connect to their charger and have a computerized system that tells you where to “juice up” or, replace a battery and guess what –they also tell you what to pay.
A similar correlation may be found in US history with Standard Oil and ATT. Both companies had their roots in the late 19th and early 20th century America. Standard oil was begun and controlled by John D. Rockefeller and for a while controlled every aspect of oil in the USA - from drilling, processing distribution all the way to the end user. Remember ATT? They were once the only telephone company - everywhere. They owned the infrastructure, cables and everything; even one’s telephone. Thanks to US anti trust laws, they were declared monopolies and soon enough “broken up.” If that never happened imagine what the world would look like today without competition and innovation.
I do not see Better Place having hegemony in the USA, for starters Americans like to have competition, it creates flavor, innovation and most of all lower prices for you and me. Car Charging Group Inc., a public company trading as CCGI, is the only company I know that is actively building an EV infrastructure. They offer a unique business model and have recently expanded overseas. CCGI’s contribution to the US EV infrastructure as with others will truly provide a better place for all.
Sunday, February 14, 2010
Two Companies that will make a difference in our lives.
While many pundits are focused on ideas of what to do with global warming, pollution, or the price of tea in China, others are taking up the challenge to combat our environmental and are actually doing something about it.
Better Place LLC., BP and Car Charging group Inc., CCGI are companies that have thrown in the gauntlet by helping us get closer to the realization of driving electric powered vehicles. Both these companies believe that a major source of pollutants that contributes significantly to global warming come from car exhaust. Both BP and CCGI believe that in order to have people drive electric cars there has to be an infrastructure ready before consumers fee comfortable enough to take the "leap." As CCGI put it so eloquently "... the arrival of electric vehicles and believes that it is at the forefront of the electric vehicle revolution. " " The arrival of electric vehicles requires the construction of a network of geographically dispersed charging stations that will provide ready access to electricity and alleviate consumers' "range anxiety" fears."
Its not too often a generation gets to see a new transportation infrastructure being created.
Way to go!!!
Better Place LLC., BP and Car Charging group Inc., CCGI are companies that have thrown in the gauntlet by helping us get closer to the realization of driving electric powered vehicles. Both these companies believe that a major source of pollutants that contributes significantly to global warming come from car exhaust. Both BP and CCGI believe that in order to have people drive electric cars there has to be an infrastructure ready before consumers fee comfortable enough to take the "leap." As CCGI put it so eloquently "... the arrival of electric vehicles and believes that it is at the forefront of the electric vehicle revolution. " " The arrival of electric vehicles requires the construction of a network of geographically dispersed charging stations that will provide ready access to electricity and alleviate consumers' "range anxiety" fears."
Its not too often a generation gets to see a new transportation infrastructure being created.
Way to go!!!
What will happen when oil prices leap?
In an article published in the Guardian on June of 2009 see http://www.guardian.co.uk/business/2009/jun/10/oil-market-reserves, there was a prediction of “$250 a barrel on fears for oil reserves, hopes of economic recovery and hedging against weak dollar . “The price of oil burst through the $71 a barrel mark today amid revelations that proven reserves had fallen for the first time in 10 years and predictions that the price could eventually hit $250.” What does this mean for the gas pumps? Well if recent history is any indication it could go over $6.00 a gallon. What does this mean for the motorist? Either dress down and travel less or just liberate yourselves and go electric. I found a company that is actually preparing the infrastructure that will give Americans an alternative choice of paying a high price for smog or what will be a cheaper and greener automobile energy source. Car Charging Group Inc, CCGI is leading the way by providing us now with a clean electric vehicle charging station infrastructure throughout the Untied States. Just check out the CCGI site and you will see for yourselves – their investment in our future.
Tuesday, February 9, 2010
Way to go Nissan!!
Source: Oz Car Guide
February 08, 2010
According to and article found in the OZ Car Guide, Nissan will stick to its original target of $200,000 batteries and 150,000 Electric cars.
Katherine Zachary, spokeswoman for Nissan North American Inc., says that due to the company’s improved efficiencies in the original construction plan of the U.S electric vehicle assembly line and battery plant, the investment amount has been reduced by $200 million.
A few months back, Nissan applied for low interest loans under the Department of Energy's Advanced Technology Vehicle Manufacturing Incentive Program. Nissan would have to use the loan to build something in the U.S. in order to qualify it. So Nissan planned to build electric vehicles at its Smyrna, Tennessee assembly plant and applied for a $1.6 billion loan for an estimated $2 billion project. The amount finally approved by DOE was $1.44billion.
So now that we are going to breath a little better, where will these 150,000 cars get charged? My money is on Car Charging Group Inc. CCGI - a publicly traded company that seems to be making all the right moves.
According to their web site, CCGI is already on the move to make sure that EV in the United States will have a place to go to where ever local to charge up.
February 08, 2010
According to and article found in the OZ Car Guide, Nissan will stick to its original target of $200,000 batteries and 150,000 Electric cars.
Katherine Zachary, spokeswoman for Nissan North American Inc., says that due to the company’s improved efficiencies in the original construction plan of the U.S electric vehicle assembly line and battery plant, the investment amount has been reduced by $200 million.
A few months back, Nissan applied for low interest loans under the Department of Energy's Advanced Technology Vehicle Manufacturing Incentive Program. Nissan would have to use the loan to build something in the U.S. in order to qualify it. So Nissan planned to build electric vehicles at its Smyrna, Tennessee assembly plant and applied for a $1.6 billion loan for an estimated $2 billion project. The amount finally approved by DOE was $1.44billion.
So now that we are going to breath a little better, where will these 150,000 cars get charged? My money is on Car Charging Group Inc. CCGI - a publicly traded company that seems to be making all the right moves.
According to their web site, CCGI is already on the move to make sure that EV in the United States will have a place to go to where ever local to charge up.
Healthy Commuting with a Kick
I read the article in EV.com which clearly may show a new trend to keep healthy without all the sweat. http://www.ev.com/ev-guides/ev-2-wheelers/mini-bikes/commuting-to-work-via-electric-bicycle-is-no-sweat.html
Some Excerpts:
“Seeing a bevy of briefcases and bicycle helmets on the way to/from work seems to be a new trend!
These new ebikes (electric bicycles or hybrid bikes) do not require a special license or registration beyond those required for a non-motorized bicycle. Standard road rules apply, which allows one to commute to work or leisurely use designated bike paths and lanes.
When cruising on electric power, this alternate commuter method of getting to work is literally no sweat at all. While all your fellow commuters are stuck in bumper to bumper traffic you’ll be flying by them at speeds up to 28km per hour (17 mph).
Not only does riding an electric bike to work help save the environment, but it can also significantly reduce the amount you currently spend on parking fees and fuel bills. Many people are surprised to find out that the lithium battery pack on these electric bicycles only costs approximately five cents for a full charge. These bikes also use many standard bike parts, so they are cheap to maintain.
For most workers riding a standard bike to and from work, even on days with nice weather can be rather problematic, due to lack of showers or changing facilities at their place of work. However, with an electric bike you have the option of being propelled totally just by electric power, even though you could peddle if you wished to still get a work out.
It is in the best interest of almost any business to install a few more bicycle racks out in the company parking lot, which not only helps the environment by keeping cars off the road, but can also serve as a potential fitness outlet for employees and customers. Studies have shown that paying close attention to personal health and fitness helps to minimize the need for unscheduled doctor’s visits, which in turn lowers overall health care cost.”
Additionally, with companies such as Car Charging Group Inc. CCGI , setting up charging stations all over America, finding a location to charge a bike for 5 cents won’t be difficult at all.
Some Excerpts:
“Seeing a bevy of briefcases and bicycle helmets on the way to/from work seems to be a new trend!
These new ebikes (electric bicycles or hybrid bikes) do not require a special license or registration beyond those required for a non-motorized bicycle. Standard road rules apply, which allows one to commute to work or leisurely use designated bike paths and lanes.
When cruising on electric power, this alternate commuter method of getting to work is literally no sweat at all. While all your fellow commuters are stuck in bumper to bumper traffic you’ll be flying by them at speeds up to 28km per hour (17 mph).
Not only does riding an electric bike to work help save the environment, but it can also significantly reduce the amount you currently spend on parking fees and fuel bills. Many people are surprised to find out that the lithium battery pack on these electric bicycles only costs approximately five cents for a full charge. These bikes also use many standard bike parts, so they are cheap to maintain.
For most workers riding a standard bike to and from work, even on days with nice weather can be rather problematic, due to lack of showers or changing facilities at their place of work. However, with an electric bike you have the option of being propelled totally just by electric power, even though you could peddle if you wished to still get a work out.
It is in the best interest of almost any business to install a few more bicycle racks out in the company parking lot, which not only helps the environment by keeping cars off the road, but can also serve as a potential fitness outlet for employees and customers. Studies have shown that paying close attention to personal health and fitness helps to minimize the need for unscheduled doctor’s visits, which in turn lowers overall health care cost.”
Additionally, with companies such as Car Charging Group Inc. CCGI , setting up charging stations all over America, finding a location to charge a bike for 5 cents won’t be difficult at all.
Who Feeds The Power?
An Article Published in the Wall Street Journal on December 16, 2009 “The Surge in Electric Cars” by. Joseph B. White.
“Why should anyone buy an electric car? That's going to be a critical question for the auto industry—and the best answer may not be "Because they're green."
“The Obama administration is committing billions of your money to the proposition that electric cars can become a meaningful segment in the U.S. market over the next few years. Faith in the future of such vehicles—which run all or in part on electricity straight from the grid—has waxed and waned many times over the past century, ever since the earliest electric cars were run off the American road by cheaper, more-powerful, more-versatile gasoline-fueled cars.”
Companies such as Renault, Nissan, Tesla and General Motors are among the first companies to mass produce electric vehicles.
• Renault
• Nissan
• Tesla
• General Motors
With Renault scheduled to build over a hundred thousand EVs, a simple questions begs to be asked – who is going to feed the power to the EVs?
I researched and found the following:
• Better Place - A very nice web site, and a great source for information on EVs, and even raised a lots of money, but was unable to find locations.
• Beautiful Earth group - Web site not up, but found an article showing a EV charging station in Brooklyn.
• Solar City - This is a successful solar panel installer/vendor that has ventured into the EV charging space. According to their we site install the products purchased by end users i.e., private, business and municipality and have been quite successful in California.
• Car Charging Group Inc., the first publicly traded company (CCGI) I found in this area, is actually in the business of creating partnerships with various private and public garages. They set up, operate and service the stations. Already they have started ground work for the US infrastructure and are actually signing agreements with parking lots, municipalities throughout the US. It also does not hurt to have a business model that sticks too. According to their web site, unlike the EV charging stations vendors which sell their products to municipalities etc., CCGI places all their EV charging stations without cost to the car lot owner. In fact the private parking lot owner or municipality actually do nothing and share in the revenue with CCGI. Who could beat that?
Sunday, February 7, 2010
Amsterdam picks Coulomb's EV charging stations
I found a wonderful Article in the Cleantech Group Web site dated May 29 2009 http://cleantech.com/news/4518/amsterdam-picks-coulombs-ev-chargin
Showing how the Europeans are taking climate change seriously. The case in point was the City of Amsterdam’s green policy of establishing and Electric Vehicle charging station infrastructure by purchasing EV charging stations from California’s Coulomb Technologies. Other European cities, such as London will also be seeking to establish EV charging Station infrastructure soon. It s no secret that Car companies such as Nissan and Renault will be mass producing EV s shortly and many European cities are preparing for the onslaught of Green cars.
It’s no accident that Coulomb’s EV charging stations were chosen as the technology to deploy. Other companies such as Car charging Group Inc., a Florida based company that currently trades on the OTC.BB on the Symbol of CCGI have adopted the use of the technology into its core business.
According to its web site, CCGI is in the business of owning, providing and servicing electric car charging stations to building owners, parking garages, municipalities, sporting venues. This company has an innovative and unique business model in that venue owner, such as municipalities become partners instead of customers. CCGI provides the financing, technology and expertise and the municipality provides the venue for a revenue share.
Showing how the Europeans are taking climate change seriously. The case in point was the City of Amsterdam’s green policy of establishing and Electric Vehicle charging station infrastructure by purchasing EV charging stations from California’s Coulomb Technologies. Other European cities, such as London will also be seeking to establish EV charging Station infrastructure soon. It s no secret that Car companies such as Nissan and Renault will be mass producing EV s shortly and many European cities are preparing for the onslaught of Green cars.
It’s no accident that Coulomb’s EV charging stations were chosen as the technology to deploy. Other companies such as Car charging Group Inc., a Florida based company that currently trades on the OTC.BB on the Symbol of CCGI have adopted the use of the technology into its core business.
According to its web site, CCGI is in the business of owning, providing and servicing electric car charging stations to building owners, parking garages, municipalities, sporting venues. This company has an innovative and unique business model in that venue owner, such as municipalities become partners instead of customers. CCGI provides the financing, technology and expertise and the municipality provides the venue for a revenue share.
Thursday, February 4, 2010
New Business Model - EV Coulombtech ChargePoint technology provided at no cost.
From the CAR CHARGING GROUP Inc. web site http://www.carcharging.com/index.html, trading as CCGI on the OTC BB.
We will install and retain ownership of electric car charging stations in consumer convenient locations throughout North America. We anticipate locking down numerous convenient locations so as to provide ultimately easy access to the end user: the electric car owner.
The charging stations are manufactured by Coulomb Technologies http://www.coulombtech.com, the industry leader in electric charging stations. Through our relationship with NovaCharge, a direct distributor of the ChargePoint™ system, we are able to provide the business/property owner with the ChargePoint™ system at no cost.
We will install and retain ownership of electric car charging stations in consumer convenient locations throughout North America. We anticipate locking down numerous convenient locations so as to provide ultimately easy access to the end user: the electric car owner.
The charging stations are manufactured by Coulomb Technologies http://www.coulombtech.com, the industry leader in electric charging stations. Through our relationship with NovaCharge, a direct distributor of the ChargePoint™ system, we are able to provide the business/property owner with the ChargePoint™ system at no cost.
Electric Car Charging Stations En Route
By Alyssa Danigelis | Fri Jan 29, 2010 04:12 PM ET
With all the electric vehicles on deck, I wonder how recharging them all on the road will actually go. Fast and easy, or like searching an old airport terminal for a place to charge a laptop? New stations could settle it.
In California, several companies have big plans. Electric systems tech company AeroVironment announced a partnership with EV-maker Think to make fast-charging stations. Coulomb Technologies announced a similar deal with Aker Wade Power Technologies to produce stations this fall. Better Place envisions a complete charging network that includes battery switch stations for drivers on long trips. (Todd Woody wrote a Green Inc. post today about lingering regulatory questions over charging stations in California.) Meanwhile utilities around the country, including Pepco in D.C., are racing to study how different charging stations will affect the grid.
Last year the DOE announced a massive grant to the Electric Transportation Engineering Corp. to install 2,500 charging stations in each of five markets: Arizona, California, Oregon, Tennessee, and Washington. The EV Project calls for several hundred of these stations to be fast-charging systems that can charge the vehicle 80 percent in a mere 15 minutes. No one is sure about the pricing for any of this yet, though. We'll have to see what happens when the project gets under way this summer.
One volunteer effort, the EV Charger Map, shows existing station locations--mostly in California--and displays user comments with details like charge time, cost, and warnings ("The Toyota SPI charger has been malfunctioning for a few weeks now"). Maybe this is what it was like in the Model T era. If the map is any indication, we've still got a way to before getting to fast and easy.
Photo: An EV charging station in Portland, Oregon, at the Oregon Museum of Science and Industry. Credit: Pam and Frank on Flickr.
Electric Car Charging Station Debuts at The Market At Fairhaven
posted on January 18, 2010 08:43 Thrifty Foods.com
First Supermarket Location Nationwide
The first networked electric car charging station in Bellingham, the first north of Hillsboro, OR and the first at a grocery store anywhere in the United States, debuted at the newly remodeled Market at Fairhaven in December.
The station, which is free to use, is a place where electric car vehicles can plug in while shopping at The Market, recharging for the trip home or future travel around town.
"We decided to offer the charging station because of the greater Bellingham community's interest in green technology and the large number of people who already drive hybrids," Kevin Weatherill, President/CEO of The Markets, explained. He added that the expected growth of plug-in cars raises the critical question: Where will these cars be plugged in?
The networked charging station was developed by Coulomb Technologies of Campbell, CA, the leader in electric vehicle charging station infrastructure. Charge Northwest is the infrastructure agent and authorized distributor of ChargePoint Networked Charging Stations from Coulomb in the Northwest.
These early models of all-electric cars have a limited range, requiring the operators to "top off" their battery when away from their normal overnight charging locations. Studies show that 80% of electric vehicle car owners want to charge more than once a day. Having a convenient public charging location, like The Market at Fairhaven's, will ease the way for electric cars into the community.
Generally, it takes four to six hours to fully charge a completely depleted battery, but most electric vehicle owners will use the opportunity to "top off" their car while running errands. A half hour of shopping at The Market will result in about a 10% charge, which is enough to add another 10 miles or so.
"Many of our customers shop several times a week, so it's easy to plug in while they are stopping by," Weatherill explained. "Having a charging station in our parking lot, clearly marked, just makes good sense."
And why electric vehicles? President Obama has challenged the automakers to produce one million electric vehicles, road-ready, by 2015. Early adopters are already converting hybrids to all-electric. Using electricity is a clean solution to the problem of green house gases, and also reduces the dependence on foreign oil gas-powered cars require.
Progressive communities, such as Bellingham, WA, which has undertaken a Community Energy Challenge (reducing substantially the area's consumption of electricity and natural gas) are embracing electric vehicles.
"Having a free community charging station, whether it's for our local customers, or people traveling the I-5 corridor who need a place to "re-fuel", is important," Weatherill noted. "We are proud to be able to offer this service as part of our ongoing commitment to environmentally-sensitive iniatives, such as our S.O.R.T. It! recycling program and our "pay it forward" reusable bags."
There are estimated to be about 1,000 electric vehicles in Washington, which includes conversions, plug-in hybrid conversions, neighborhood electric vehicles and electric motorbikes.
With all the electric vehicles on deck, I wonder how recharging them all on the road will actually go. Fast and easy, or like searching an old airport terminal for a place to charge a laptop? New stations could settle it.
In California, several companies have big plans. Electric systems tech company AeroVironment announced a partnership with EV-maker Think to make fast-charging stations. Coulomb Technologies announced a similar deal with Aker Wade Power Technologies to produce stations this fall. Better Place envisions a complete charging network that includes battery switch stations for drivers on long trips. (Todd Woody wrote a Green Inc. post today about lingering regulatory questions over charging stations in California.) Meanwhile utilities around the country, including Pepco in D.C., are racing to study how different charging stations will affect the grid.
Last year the DOE announced a massive grant to the Electric Transportation Engineering Corp. to install 2,500 charging stations in each of five markets: Arizona, California, Oregon, Tennessee, and Washington. The EV Project calls for several hundred of these stations to be fast-charging systems that can charge the vehicle 80 percent in a mere 15 minutes. No one is sure about the pricing for any of this yet, though. We'll have to see what happens when the project gets under way this summer.
One volunteer effort, the EV Charger Map, shows existing station locations--mostly in California--and displays user comments with details like charge time, cost, and warnings ("The Toyota SPI charger has been malfunctioning for a few weeks now"). Maybe this is what it was like in the Model T era. If the map is any indication, we've still got a way to before getting to fast and easy.
Photo: An EV charging station in Portland, Oregon, at the Oregon Museum of Science and Industry. Credit: Pam and Frank on Flickr.
Electric Car Charging Station Debuts at The Market At Fairhaven
posted on January 18, 2010 08:43 Thrifty Foods.com
First Supermarket Location Nationwide
The first networked electric car charging station in Bellingham, the first north of Hillsboro, OR and the first at a grocery store anywhere in the United States, debuted at the newly remodeled Market at Fairhaven in December.
The station, which is free to use, is a place where electric car vehicles can plug in while shopping at The Market, recharging for the trip home or future travel around town.
"We decided to offer the charging station because of the greater Bellingham community's interest in green technology and the large number of people who already drive hybrids," Kevin Weatherill, President/CEO of The Markets, explained. He added that the expected growth of plug-in cars raises the critical question: Where will these cars be plugged in?
The networked charging station was developed by Coulomb Technologies of Campbell, CA, the leader in electric vehicle charging station infrastructure. Charge Northwest is the infrastructure agent and authorized distributor of ChargePoint Networked Charging Stations from Coulomb in the Northwest.
These early models of all-electric cars have a limited range, requiring the operators to "top off" their battery when away from their normal overnight charging locations. Studies show that 80% of electric vehicle car owners want to charge more than once a day. Having a convenient public charging location, like The Market at Fairhaven's, will ease the way for electric cars into the community.
Generally, it takes four to six hours to fully charge a completely depleted battery, but most electric vehicle owners will use the opportunity to "top off" their car while running errands. A half hour of shopping at The Market will result in about a 10% charge, which is enough to add another 10 miles or so.
"Many of our customers shop several times a week, so it's easy to plug in while they are stopping by," Weatherill explained. "Having a charging station in our parking lot, clearly marked, just makes good sense."
And why electric vehicles? President Obama has challenged the automakers to produce one million electric vehicles, road-ready, by 2015. Early adopters are already converting hybrids to all-electric. Using electricity is a clean solution to the problem of green house gases, and also reduces the dependence on foreign oil gas-powered cars require.
Progressive communities, such as Bellingham, WA, which has undertaken a Community Energy Challenge (reducing substantially the area's consumption of electricity and natural gas) are embracing electric vehicles.
"Having a free community charging station, whether it's for our local customers, or people traveling the I-5 corridor who need a place to "re-fuel", is important," Weatherill noted. "We are proud to be able to offer this service as part of our ongoing commitment to environmentally-sensitive iniatives, such as our S.O.R.T. It! recycling program and our "pay it forward" reusable bags."
There are estimated to be about 1,000 electric vehicles in Washington, which includes conversions, plug-in hybrid conversions, neighborhood electric vehicles and electric motorbikes.
Companies that are creating the EV infrustructure in the USA
I found this in Mother nature.com an article written by Jim Motavalli
We’ll be able to plug in. EVs can’t happen unless there are also charging networks, but fortunately that’s happening. Companies like Better Place, Coulomb, Aerovironment and the Car Charging Group are all busily trying to get infrastructure built, and far-thinking auto companies, including Nissan and Tesla, are helping them.
We’ll be able to plug in. EVs can’t happen unless there are also charging networks, but fortunately that’s happening. Companies like Better Place, Coulomb, Aerovironment and the Car Charging Group are all busily trying to get infrastructure built, and far-thinking auto companies, including Nissan and Tesla, are helping them.
How serious is the US about Electric cars?
The US government had made unprecedented loans and grants that both small and big businesses. Whether it is for the actual manufacturing of a new car, or to startup companies looking to capitalize on new infrastructure technologies, governments have committed to spending billions of dollars to see that the electric vehicle industry as a whole will succeed. Recently, the Fisker Auto Company received a $529M loan from the US Government to help build a hybrid sports car. The Ford Motor company was awarded a $5.9 billion loan in June of this year. Tesla Motors, Silicon Valley’s electric car manufacturer, received a $465 million loan. All of the aforementioned loans came from the US Government’s $25 billion program to be used solely for development of electric/plug-in hybrid vehicles.
According to J.D. Powers, by 2012 up to 10% of all new vehicle sales in the U.S. will be alternative vehicles (defined as including both hybrid and all electric vehicles). Additionally, research from Alliance Bernstein suggests that by 2015, 50% of all new vehicle sales globally will be alternative vehicles. This could equate to sales of over 10 million alternative vehicles in the U.S. alone.
According to J.D. Powers, by 2012 up to 10% of all new vehicle sales in the U.S. will be alternative vehicles (defined as including both hybrid and all electric vehicles). Additionally, research from Alliance Bernstein suggests that by 2015, 50% of all new vehicle sales globally will be alternative vehicles. This could equate to sales of over 10 million alternative vehicles in the U.S. alone.
. Interesting Data regarding the need for a US EV charging infrastructure.
40 percent of U.S. residences don't have even a carport, much less a garage, in which a plug in vehicle can recharge overnight. According to government statistics, there are 247 million cars in the U.S. today and only 54 million garages. Garages are most frequently lacking in dense urban areas, the very places where a medium-range electric vehicle is an ideal solution for personal transportation. For example, in San Francisco only one in six cars is parked in a private garage. In suburban areas, people living in apartment complexes and condominiums also need a place to "plug in." In addition to the lack of garage access, the limited electricity-only range of early plug-in vehicles will prompt the desire for drivers to "top off" their batteries when away from their normal overnight charging location. Prospective plug-in car owners want the assurance that they can charge their vehicles while at work, shopping or parked anywhere away from home "just in case." Recent studies of drivers of early custom and "kit" electric vehicles confirm this behavior.
Why electric vehicles are so attractive and who’s investing in them?
Why electric vehicles are so attractive and who’s investing in them?
Warren Buffett did. “(I made an investment) in a company called BYD and they develop a really good electric car I hope.” - Warren Buffet
We are looking for St. Bernards, not Chihuahuas” - Warren Buffett
On 09/27/08, Berkshire Hathaway bought 225 million shares for $231 million representing 10% of BYD; David Sokol joined BYD Board of Directors. Given Bershires Hathaway’s hurdle rate and track record, this should make investors think seriously about green cars and the infrastructure that supports it.
Wednesday, February 3, 2010
Form 8-K/A for CAR CHARGING GROUP, INC.
Form 8-K/A for CAR CHARGING GROUP, INC.
3-Feb-2010
Entry into a Material Definitive Agreement, Completion of Acquisition
Item 1.01 Entry Into Material Definitive Agreement
Share Exchange Agreement
As more fully described in Item 2.01 below, on December 7, 2009, we entered into a Share Exchange Agreement (the "Share Exchange Agreement") by and between New Image Concepts, Inc., a Nevada corporation (the "Company") and Car Charging, Inc., a Delaware corporation ("Car Charging"). The closing of the transaction (the "Closing") took place on December 7, 2009 (the "Closing Date").
At Closing, pursuant to the majority consent of our board of directors and shareholders, we (i) approved an amendment to our Articles of Incorporation changing our name to Car Charging Group, Inc.; and (ii) approved the authorization of 20,000,000 shares of preferred stock of the Company. Additionally, we filed a Certificate of Designation with the state of Nevada designating rights to the authorized preferred stock of the Company (the "Series A Convertible Preferred Stock"), attached hereto as Exhibit 3.2.
Pursuant to the Share Exchange Agreement, we issued 50,000,000 shares of our common stock to the shareholders of Car Charging, representing 66.8% of the Company's issued and outstanding stock and 10,000,000 Series A Convertible Preferred Stock, which is more fully discussed in Item 2.01 of this Current Report.
This transaction is more fully discussed in Item 2.01 of this Current Report. This brief discussion is qualified by reference to the provisions of the Share Exchange Agreement which is attached in full to this Current Report as Exhibit 2.1.
Financing Transaction
In connection with the closing of the Share Exchange Agreement, on December 7, 2009, we entered into a Subscription Agreement for the sale of units of securities of the Company aggregating $920,000 (the "Subscription Agreement"), attached hereto as Exhibit 4.1. Each unit of securities consist of: one (1) share of Company common stock, $0.001 par value per share (the "Common Stock"); and (ii) a Class A warrant (the "Warrant") to purchase an additional number of shares equal to 100% of the Common Stock with an exercise price of $0.60/share. The purchase price is $0.30 per unit. The Subscription Agreement and Warrant shall be referred to as the "Financing Documents."
The financing closed simultaneously with the Share Exchange Agreement and the Company issued 3,066,665 shares of common stock and warrants to the subscribers (collectively, the "Investors").
Item 2.01 Completion of Acquisition and Disposition of Assets
CLOSING OF SHARE EXCHANGE AGREEMENT
On the Closing Date, pursuant to the Share Exchange Agreement, the shareholders of Car Charging exchanged 1,000 shares of common stock of Car Charging, representing 100% of the issued and outstanding stock of Car Charging, for: (i) 50,000,000 newly issued shares of the Company's common stock, par value $0.001 per share, representing 66.8% of the Company's issued and outstanding common stock; and (ii) 10,000,000 shares of our Series A Convertible Preferred Stock.
Simultaneous to the Closing and pursuant to the majority consent of the Company's board of directors and shareholders, the Company changed its name to Car Charging Group, Inc. and approved the authorization of 20,000,000 shares of preferred stock of the Company and approved a 6.6-for-1 forward split of our common stock, which was declared effective by FINRA on October 22, 2009.
Pursuant to the terms of the Share Exchange Agreement, Belen Flores agreed to cancel 277,200,000 shares of the Company's common stock held in her name.
Additionally, simultaneous to the Closing, we closed on a financing transaction in the aggregate amount of $920,000 and issued 3,066,665 shares of common stock and warrants to be exercised into 3,066,665 shares of common stock to certain accredited investors.
As more fully described in Item 5.02 below, on the Closing Date, Belen Flores, the sole officer and director of the Company, resigned from all positions held and we simultaneously appointed executive officers and three members of the Board of Directors of the Company. The Board of Directors now consists of three members, each serving terms until a vote can take place at the next annual meeting of the Company, pursuant to the By-laws of the Company.
- 3 -
BUSINESS
General
We intend to be an owner, provider and servicer of electric car charging stations to building owners, parking garages, municipalities, sporting venues
(e.g. football and baseball stadiums, as well as basketball and hockey arenas)
and ultimately to provide the ability for the EV owner to have charging services in public areas on our network. Our Company provides and installs car charging stations at public locations at no cost to the landowner. Further, our Company is able to facilitate the purchase of a car charging station through our subsidiary, eCharging Stations, LLC. We anticipate such sales will generate continuous income for our Company. We plan on subcontracting to certain approved local vendors the actual installation work and maintenance of the charging stations.
While the electric vehicle industry is still in a developmental phase, our Company firmly believes that it is important to be at the forefront of infrastructure development of the industry. In order for electric vehicles to become a mainstream reality, charging stations need to be in place and readily available.
. . .
Item 3.02 Unregistered Sales of Equity Securities
Pursuant to the Share Exchange Agreement, on December 7, 2009, we issued 50,000,000 shares of our common stock to the shareholders of Car Charging, Inc., in exchange for the shares held by these shareholders pursuant to the Share Exchange Agreement. Such securities were not registered under the Securities Act of 1933. The issuance of these shares was exempted from registration pursuant to
Section 4(2) of the Securities Act of 1933. We made this determination based on the representations that the Car Charging Shareholders were either (a) "accredited investors" within the meaning of Rule 501 of Regulation D promulgated under the Securities Act, or (b) not a "U.S. person" as that term is defined in Rule 902(k) of Regulation S under the Act, and that the Car Charging Shareholders were acquiring our common stock, for investment purposes for their own respective accounts and not as nominees or agents and not with a view to the resale or distribution thereof, and that the Car Charging Shareholders understood that the shares of our common stock may not be sold or otherwise disposed of without registration under the Securities Act or an applicable exemption therefrom.
As referenced in Item 1.01, the Company entered into a financing transaction with certain accredited investors. Pursuant to the financing, we sold units of securities that consisted of an aggregate of 3,066,665 shares of common stock and warrants exercisable into 3,066,665 shares of common stock for a total purchase price of $920,000 or $0.30/unit. These shares were issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D.
Item 5.01 Changes in Control of Registrants
As more fully described in Item 2.01, on December 7, 2009, pursuant to the terms of the Share Exchange Agreement, the shareholders of Car Charging acquired a total of (i) 50,000,000 shares of our issued and outstanding common stock and
(ii) 10,000,000 newly-issued shares of our issued and outstanding Series A Preferred Stock. Further, the resigning officer of the Company agreed to cancel 277,200,000 shares of common stock. As such, immediately following the Share Exchange Agreement, the shareholders of Car Charging, Inc. held approximately 66.8% of the voting power of our outstanding common stock and 100% of the voting power of our outstanding Series A Preferred Stock. Reference is made to the disclosures set forth under Item 2.01 of this Current Report on Form 8-K, which disclosure is incorporated by reference.
As more fully explained in Item 5.02, in connection with the Closing of the Share Exchange Agreement, Belen Flores, our former Chairman of the Board of Directors and Chief Executive Officer, resigned from these positions and all other positions held in the Company and agreed to cancel the 277,200,000 shares previously owned.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a) Resignation of Directors
Effective December 7, 2009, Belen Flores resigned as the chairman and the sole member of our board of directors. His resignation was not the result of any disagreements with us on any matters relating to our operations, policies and practices.
(b) Resignation of Officers
Effective December 7, 2009, Belen Flores resigned as our Chief Executive Officer and all other offices that he held. His resignation was not the result of any disagreements with us on any matters relating to our operations, policies and practices.
(c) Appointment of Directors
Effective December 7, 2009, the following persons were appointed as members of the Board of Directors:
Name Age Principal Positions With Us
Andy Kinard 44 Director
Richard Adeline 65 Director
Michael Bernstein 40 Director
The business background descriptions of the newly appointed directors are as follows:
Andy Kinard, President, Director
Mr. Kinard graduated from Auburn University in 1987. His first employer was Florida Power & Light ("FPL") where he worked for 15 years. In his early years, his focus was on engineering. During his tenure, he performed energy analysis for large commercial accounts, and ultimately became a Certified Energy Manager. Simultaneously, Mr. Kinard was assigned to FPL's electric vehicle program. FPL had their own fleet of electric vehicles that they used to promote the technology.
- 14 -
He spent several years marketing renewable energy in Florida and was a Guest Speaker at the World Energy Congress. He also served on the Board of Directors of the South Florida Manufacturing Association for 4 years.
For the last year Mr. Kinard has been selling electric vehicles in Florida. He has City, County, and State contacts throughout Florida, and has attended every car show, and green fair in the State.
Richard Adeline, Chief Financial Officer, Treasurer, Director
Since 1984, Richard has been in practice as a CPA in Florida specializing in financial planning, tax preparation and business consulting for both public and non-public companies. Richard is well versed in the reporting requirements for public companies.
Prior to forming his own practice, Richard served as an Audit Manager at Arthur Andersen and Coopers & Lybrand (PriceWaterhouseCoopers), as well as the CFO of Insurance Exchange of the Americas, Inc. He is a licensed CPA in the states of Florida and New York and is a registered Financial Advisor that holds both Life and Health Insurance licenses, as well as various FINRA certifications (Series 7, 63 and 65). Mr. Adeline is a graduate of the City University of New York (Hunter College) in 1965 with a BS in Accounting.
Michael Bernstein, General Counsel, Director
Mr. Bernstein is a graduate of New York University and Brooklyn Law School.
Since 1996, he has been practicing law and is currently admitted in the state and federal courts of Florida, New York and New Jersey. Mr. Bernstein maintains his law practice in Miami Beach, Florida in the areas of corporate and business transactions, real estate and commercial litigation. Through his law firm, Mr. Bernstein serves as independent corporate counsel for several Florida based companies who transact business nationwide. In 2008, Mr. Bernstein was appointed and has served as a member of the Community Development Advisory Board (CDAC) of the City of Miami Beach.
. . .
Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Pursuant to the Share Exchange Agreement, on December 7, 2009 we filed with the Secretary of State for the State of Nevada a Certificate of Amendment to our Certificate of Incorporation changing our name to "Car Charging Group, Inc." to better reflect our business plan. A copy of the Certificate of Amendment to Articles of Incorporation is attached hereto as Exhibit 3.1.
On December 7, 2009, we filed with the Secretary of State for the State of Nevada a Certificate of Amendment to our Certificate of Incorporation designating the rights of our Series A Convertible Preferred Stock. A copy of the Certificate of Designation for our Series A Convertible Preferred Stock is attached hereto as Exhibit 3.2.
Item 5.06 Change in Shell Company Status.
As described in Item 1.01 of this Form 8-K, on December 7, 2009, we entered into the Exchange Agreement and consummated the Share Exchange, pursuant to which we acquired all of the issued and outstanding common shares of Car Charging, Inc. in exchange for the issuance of the Company's Common Stock and Series A Convertible Preferred Stock to the shareholders of the Car Charging, Inc.
As a result of the Share Exchange, the shareholders of Car Charging, Inc. exchanged 1,000 shares of common stock of Car Charging, representing 100% of the issued and outstanding stock of Car Charging, Inc. for: (i) 50,000,000 newly issued shares of the Company's common stock, par value $0.001 per share, representing 66.8% of the Company's issued and outstanding common stock; and
(ii) 10,000,000 shares of our Series A Convertible Preferred Stock.
As the result of the consummation of the Share Exchange, we are no longer a shell company as that term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended.
Item 8.01 Other Events
On September 29, 2009, the Company's Board of Directors approved a 6.6-1 forward stock split (the "Forward Split") of the Company's issued and outstanding common stock with a record date of October 22, 2009. The Forward Split is only for the Company's issued and outstanding shares and not its authorized shares. The Forward Split occurred prior to the Closing of the Share Exchange so all shares listed in this Form 8-K are post-Forward Split.
- 15 -
Item 9.01 -Financial Statements and Exhibits
Exhibit Description
Number
2.1 * Share Exchange Agreement by and among New Image Concepts, Inc.
and Car Charging, Inc.
3.1 * Amendment to Certificate of Incorporation changing name to Car
Charging, Inc., increasing the number of preferred shares
authorized to 20,000,000 shares, filed with the Secretary of
State of the State of Nevada on December 7, 2009
3.2 * Certificate of Designation designating the rights of the
Series A Convertible Preferred Shares
4.1 * Subscription Agreement
4.2 * Form of Warrant
* Filed as exhibits to the Form 8-K filed with the SEC on December 11, 2009.
3-Feb-2010
Entry into a Material Definitive Agreement, Completion of Acquisition
Item 1.01 Entry Into Material Definitive Agreement
Share Exchange Agreement
As more fully described in Item 2.01 below, on December 7, 2009, we entered into a Share Exchange Agreement (the "Share Exchange Agreement") by and between New Image Concepts, Inc., a Nevada corporation (the "Company") and Car Charging, Inc., a Delaware corporation ("Car Charging"). The closing of the transaction (the "Closing") took place on December 7, 2009 (the "Closing Date").
At Closing, pursuant to the majority consent of our board of directors and shareholders, we (i) approved an amendment to our Articles of Incorporation changing our name to Car Charging Group, Inc.; and (ii) approved the authorization of 20,000,000 shares of preferred stock of the Company. Additionally, we filed a Certificate of Designation with the state of Nevada designating rights to the authorized preferred stock of the Company (the "Series A Convertible Preferred Stock"), attached hereto as Exhibit 3.2.
Pursuant to the Share Exchange Agreement, we issued 50,000,000 shares of our common stock to the shareholders of Car Charging, representing 66.8% of the Company's issued and outstanding stock and 10,000,000 Series A Convertible Preferred Stock, which is more fully discussed in Item 2.01 of this Current Report.
This transaction is more fully discussed in Item 2.01 of this Current Report. This brief discussion is qualified by reference to the provisions of the Share Exchange Agreement which is attached in full to this Current Report as Exhibit 2.1.
Financing Transaction
In connection with the closing of the Share Exchange Agreement, on December 7, 2009, we entered into a Subscription Agreement for the sale of units of securities of the Company aggregating $920,000 (the "Subscription Agreement"), attached hereto as Exhibit 4.1. Each unit of securities consist of: one (1) share of Company common stock, $0.001 par value per share (the "Common Stock"); and (ii) a Class A warrant (the "Warrant") to purchase an additional number of shares equal to 100% of the Common Stock with an exercise price of $0.60/share. The purchase price is $0.30 per unit. The Subscription Agreement and Warrant shall be referred to as the "Financing Documents."
The financing closed simultaneously with the Share Exchange Agreement and the Company issued 3,066,665 shares of common stock and warrants to the subscribers (collectively, the "Investors").
Item 2.01 Completion of Acquisition and Disposition of Assets
CLOSING OF SHARE EXCHANGE AGREEMENT
On the Closing Date, pursuant to the Share Exchange Agreement, the shareholders of Car Charging exchanged 1,000 shares of common stock of Car Charging, representing 100% of the issued and outstanding stock of Car Charging, for: (i) 50,000,000 newly issued shares of the Company's common stock, par value $0.001 per share, representing 66.8% of the Company's issued and outstanding common stock; and (ii) 10,000,000 shares of our Series A Convertible Preferred Stock.
Simultaneous to the Closing and pursuant to the majority consent of the Company's board of directors and shareholders, the Company changed its name to Car Charging Group, Inc. and approved the authorization of 20,000,000 shares of preferred stock of the Company and approved a 6.6-for-1 forward split of our common stock, which was declared effective by FINRA on October 22, 2009.
Pursuant to the terms of the Share Exchange Agreement, Belen Flores agreed to cancel 277,200,000 shares of the Company's common stock held in her name.
Additionally, simultaneous to the Closing, we closed on a financing transaction in the aggregate amount of $920,000 and issued 3,066,665 shares of common stock and warrants to be exercised into 3,066,665 shares of common stock to certain accredited investors.
As more fully described in Item 5.02 below, on the Closing Date, Belen Flores, the sole officer and director of the Company, resigned from all positions held and we simultaneously appointed executive officers and three members of the Board of Directors of the Company. The Board of Directors now consists of three members, each serving terms until a vote can take place at the next annual meeting of the Company, pursuant to the By-laws of the Company.
- 3 -
BUSINESS
General
We intend to be an owner, provider and servicer of electric car charging stations to building owners, parking garages, municipalities, sporting venues
(e.g. football and baseball stadiums, as well as basketball and hockey arenas)
and ultimately to provide the ability for the EV owner to have charging services in public areas on our network. Our Company provides and installs car charging stations at public locations at no cost to the landowner. Further, our Company is able to facilitate the purchase of a car charging station through our subsidiary, eCharging Stations, LLC. We anticipate such sales will generate continuous income for our Company. We plan on subcontracting to certain approved local vendors the actual installation work and maintenance of the charging stations.
While the electric vehicle industry is still in a developmental phase, our Company firmly believes that it is important to be at the forefront of infrastructure development of the industry. In order for electric vehicles to become a mainstream reality, charging stations need to be in place and readily available.
. . .
Item 3.02 Unregistered Sales of Equity Securities
Pursuant to the Share Exchange Agreement, on December 7, 2009, we issued 50,000,000 shares of our common stock to the shareholders of Car Charging, Inc., in exchange for the shares held by these shareholders pursuant to the Share Exchange Agreement. Such securities were not registered under the Securities Act of 1933. The issuance of these shares was exempted from registration pursuant to
Section 4(2) of the Securities Act of 1933. We made this determination based on the representations that the Car Charging Shareholders were either (a) "accredited investors" within the meaning of Rule 501 of Regulation D promulgated under the Securities Act, or (b) not a "U.S. person" as that term is defined in Rule 902(k) of Regulation S under the Act, and that the Car Charging Shareholders were acquiring our common stock, for investment purposes for their own respective accounts and not as nominees or agents and not with a view to the resale or distribution thereof, and that the Car Charging Shareholders understood that the shares of our common stock may not be sold or otherwise disposed of without registration under the Securities Act or an applicable exemption therefrom.
As referenced in Item 1.01, the Company entered into a financing transaction with certain accredited investors. Pursuant to the financing, we sold units of securities that consisted of an aggregate of 3,066,665 shares of common stock and warrants exercisable into 3,066,665 shares of common stock for a total purchase price of $920,000 or $0.30/unit. These shares were issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D.
Item 5.01 Changes in Control of Registrants
As more fully described in Item 2.01, on December 7, 2009, pursuant to the terms of the Share Exchange Agreement, the shareholders of Car Charging acquired a total of (i) 50,000,000 shares of our issued and outstanding common stock and
(ii) 10,000,000 newly-issued shares of our issued and outstanding Series A Preferred Stock. Further, the resigning officer of the Company agreed to cancel 277,200,000 shares of common stock. As such, immediately following the Share Exchange Agreement, the shareholders of Car Charging, Inc. held approximately 66.8% of the voting power of our outstanding common stock and 100% of the voting power of our outstanding Series A Preferred Stock. Reference is made to the disclosures set forth under Item 2.01 of this Current Report on Form 8-K, which disclosure is incorporated by reference.
As more fully explained in Item 5.02, in connection with the Closing of the Share Exchange Agreement, Belen Flores, our former Chairman of the Board of Directors and Chief Executive Officer, resigned from these positions and all other positions held in the Company and agreed to cancel the 277,200,000 shares previously owned.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a) Resignation of Directors
Effective December 7, 2009, Belen Flores resigned as the chairman and the sole member of our board of directors. His resignation was not the result of any disagreements with us on any matters relating to our operations, policies and practices.
(b) Resignation of Officers
Effective December 7, 2009, Belen Flores resigned as our Chief Executive Officer and all other offices that he held. His resignation was not the result of any disagreements with us on any matters relating to our operations, policies and practices.
(c) Appointment of Directors
Effective December 7, 2009, the following persons were appointed as members of the Board of Directors:
Name Age Principal Positions With Us
Andy Kinard 44 Director
Richard Adeline 65 Director
Michael Bernstein 40 Director
The business background descriptions of the newly appointed directors are as follows:
Andy Kinard, President, Director
Mr. Kinard graduated from Auburn University in 1987. His first employer was Florida Power & Light ("FPL") where he worked for 15 years. In his early years, his focus was on engineering. During his tenure, he performed energy analysis for large commercial accounts, and ultimately became a Certified Energy Manager. Simultaneously, Mr. Kinard was assigned to FPL's electric vehicle program. FPL had their own fleet of electric vehicles that they used to promote the technology.
- 14 -
He spent several years marketing renewable energy in Florida and was a Guest Speaker at the World Energy Congress. He also served on the Board of Directors of the South Florida Manufacturing Association for 4 years.
For the last year Mr. Kinard has been selling electric vehicles in Florida. He has City, County, and State contacts throughout Florida, and has attended every car show, and green fair in the State.
Richard Adeline, Chief Financial Officer, Treasurer, Director
Since 1984, Richard has been in practice as a CPA in Florida specializing in financial planning, tax preparation and business consulting for both public and non-public companies. Richard is well versed in the reporting requirements for public companies.
Prior to forming his own practice, Richard served as an Audit Manager at Arthur Andersen and Coopers & Lybrand (PriceWaterhouseCoopers), as well as the CFO of Insurance Exchange of the Americas, Inc. He is a licensed CPA in the states of Florida and New York and is a registered Financial Advisor that holds both Life and Health Insurance licenses, as well as various FINRA certifications (Series 7, 63 and 65). Mr. Adeline is a graduate of the City University of New York (Hunter College) in 1965 with a BS in Accounting.
Michael Bernstein, General Counsel, Director
Mr. Bernstein is a graduate of New York University and Brooklyn Law School.
Since 1996, he has been practicing law and is currently admitted in the state and federal courts of Florida, New York and New Jersey. Mr. Bernstein maintains his law practice in Miami Beach, Florida in the areas of corporate and business transactions, real estate and commercial litigation. Through his law firm, Mr. Bernstein serves as independent corporate counsel for several Florida based companies who transact business nationwide. In 2008, Mr. Bernstein was appointed and has served as a member of the Community Development Advisory Board (CDAC) of the City of Miami Beach.
. . .
Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Pursuant to the Share Exchange Agreement, on December 7, 2009 we filed with the Secretary of State for the State of Nevada a Certificate of Amendment to our Certificate of Incorporation changing our name to "Car Charging Group, Inc." to better reflect our business plan. A copy of the Certificate of Amendment to Articles of Incorporation is attached hereto as Exhibit 3.1.
On December 7, 2009, we filed with the Secretary of State for the State of Nevada a Certificate of Amendment to our Certificate of Incorporation designating the rights of our Series A Convertible Preferred Stock. A copy of the Certificate of Designation for our Series A Convertible Preferred Stock is attached hereto as Exhibit 3.2.
Item 5.06 Change in Shell Company Status.
As described in Item 1.01 of this Form 8-K, on December 7, 2009, we entered into the Exchange Agreement and consummated the Share Exchange, pursuant to which we acquired all of the issued and outstanding common shares of Car Charging, Inc. in exchange for the issuance of the Company's Common Stock and Series A Convertible Preferred Stock to the shareholders of the Car Charging, Inc.
As a result of the Share Exchange, the shareholders of Car Charging, Inc. exchanged 1,000 shares of common stock of Car Charging, representing 100% of the issued and outstanding stock of Car Charging, Inc. for: (i) 50,000,000 newly issued shares of the Company's common stock, par value $0.001 per share, representing 66.8% of the Company's issued and outstanding common stock; and
(ii) 10,000,000 shares of our Series A Convertible Preferred Stock.
As the result of the consummation of the Share Exchange, we are no longer a shell company as that term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended.
Item 8.01 Other Events
On September 29, 2009, the Company's Board of Directors approved a 6.6-1 forward stock split (the "Forward Split") of the Company's issued and outstanding common stock with a record date of October 22, 2009. The Forward Split is only for the Company's issued and outstanding shares and not its authorized shares. The Forward Split occurred prior to the Closing of the Share Exchange so all shares listed in this Form 8-K are post-Forward Split.
- 15 -
Item 9.01 -Financial Statements and Exhibits
Exhibit Description
Number
2.1 * Share Exchange Agreement by and among New Image Concepts, Inc.
and Car Charging, Inc.
3.1 * Amendment to Certificate of Incorporation changing name to Car
Charging, Inc., increasing the number of preferred shares
authorized to 20,000,000 shares, filed with the Secretary of
State of the State of Nevada on December 7, 2009
3.2 * Certificate of Designation designating the rights of the
Series A Convertible Preferred Shares
4.1 * Subscription Agreement
4.2 * Form of Warrant
* Filed as exhibits to the Form 8-K filed with the SEC on December 11, 2009.
CCGI to place charging stations throughout the USA
TAMPA, FL--(Marketwire - 01/14/10) - NovaCharge, a leader in the deployment of EV Charging infrastructure, is pleased to announce a reseller agreement with Car Charging Group, Inc. (OTC.BB:CCGI - News), a company at the forefront of accelerating the transition from gas-powered automobiles to electric vehicles (EV) by owning, providing, and maintaining conveniently located car charging stations that will be compatible with all EVs.
Car Charging is positioning itself to become a leading provider and servicer of electric car charging stations to building owners, parking garages, municipalities, sporting venues and ultimately to provide the ability for the electric vehicle owner to have charging services in public areas. It is the intention of the Company to provide and install ChargePoint Network(SM) Charging Stations at various public locations nationwide at no cost to the landowner.
"With the mass rollout of electric vehicles beginning in late 2010, Car Charging intends to provide a service whereby the public will be able to recharge their electric vehicles at convenient locations. Companies such as Tesla, Fisker, GM, and Nissan are already introducing their lines of EVs," said Andy Kinard, President of Car Charging Group, Inc. "Together with NovaCharge, we will ensure that EV charging stations will be conveniently available to owners of all electric vehicles wherever they operate."
To establish convenient locations, Car Charging Group intends to enter into partnership agreements with building owners, parking garages, municipalities and sporting venues. Additionally, the Company has initiated negotiations with several large Florida municipalities to install electric car charging stations throughout their property, pursuant to a negotiated revenue sharing agreement.
About NovaCharge
NovaCharge enables a smart charging infrastructure for plug-in Electric Vehicles by providing a seamless, scalable, reliable and cost-effective solution from Coulomb Technologies known as the ChargePoint(SM) Network. Together, we are committed to providing an exceptional user experience for the owner's of plug-in Electric Vehicles. NovaCharge provides sales, installation, commissioning and support for the ChargePoint(SM) Network. With our network of Coulomb Technologies co-partner channels we can offer these products and services around the world. Through our growing network of re-sellers and installation partners, NovaCharge can deliver the critical services necessary to ensure the deployment of a high quality EV infrastructure for Government, Private Enterprise, and Electric Utility customers.
About Car Charging Group, Inc.
Car Charging Group, Inc is in the business of owning, providing and servicing electric car charging stations to building owners, parking garages, municipalities, sporting venues. The Company is based in Miami Beach, Florida. Car Charging plans to initially launch its service in the South Florida market with the intent to expand both nationally and internationally over time.
Forward-Looking Statements
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
Contact:
Investor Relations
Car Charging Group, Inc.
Investor Contact
212.505.5976
Car Charging is positioning itself to become a leading provider and servicer of electric car charging stations to building owners, parking garages, municipalities, sporting venues and ultimately to provide the ability for the electric vehicle owner to have charging services in public areas. It is the intention of the Company to provide and install ChargePoint Network(SM) Charging Stations at various public locations nationwide at no cost to the landowner.
"With the mass rollout of electric vehicles beginning in late 2010, Car Charging intends to provide a service whereby the public will be able to recharge their electric vehicles at convenient locations. Companies such as Tesla, Fisker, GM, and Nissan are already introducing their lines of EVs," said Andy Kinard, President of Car Charging Group, Inc. "Together with NovaCharge, we will ensure that EV charging stations will be conveniently available to owners of all electric vehicles wherever they operate."
To establish convenient locations, Car Charging Group intends to enter into partnership agreements with building owners, parking garages, municipalities and sporting venues. Additionally, the Company has initiated negotiations with several large Florida municipalities to install electric car charging stations throughout their property, pursuant to a negotiated revenue sharing agreement.
About NovaCharge
NovaCharge enables a smart charging infrastructure for plug-in Electric Vehicles by providing a seamless, scalable, reliable and cost-effective solution from Coulomb Technologies known as the ChargePoint(SM) Network. Together, we are committed to providing an exceptional user experience for the owner's of plug-in Electric Vehicles. NovaCharge provides sales, installation, commissioning and support for the ChargePoint(SM) Network. With our network of Coulomb Technologies co-partner channels we can offer these products and services around the world. Through our growing network of re-sellers and installation partners, NovaCharge can deliver the critical services necessary to ensure the deployment of a high quality EV infrastructure for Government, Private Enterprise, and Electric Utility customers.
About Car Charging Group, Inc.
Car Charging Group, Inc is in the business of owning, providing and servicing electric car charging stations to building owners, parking garages, municipalities, sporting venues. The Company is based in Miami Beach, Florida. Car Charging plans to initially launch its service in the South Florida market with the intent to expand both nationally and internationally over time.
Forward-Looking Statements
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
Contact:
Investor Relations
Car Charging Group, Inc.
Investor Contact
212.505.5976
CCGI Car Charging group - a great green company
Car Charging Group, Inc., is a company dedicated to a clean, sustainable environment and an economically strong, energy-independent America. We join hands with the US government's initiative to turn dream into reality. Aided by U.S. government tax incentives and grants, we would like to be at the forefront of the electric car revolution. We believe that investing in infrastructure now will facilitate a seamless transition to electric cars.
http://www.carcharging.com
http://www.carcharging.com
Tuesday, February 2, 2010
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