A Miami-based provider of comprehensive electric vehicle (EV) charging services to commercial and residential property owners, Car Charging Group has secured a $1.0 million funding and it anticipates receiving an additional investment of $1.5 million within two months.
The investors will gain 5% rights in the company’s foreign subsidiary, Car Charging Europe, which is currently being established. The investments will help to accelerate the Car Charging Group’s growth opportunities via its foreign subsidiary.
Michael D. Farkas, CEO of Car Charging Group, announced that their investors believe in the considerable growth opportunities existing in the European EV market and also on their capability to leverage their success in the U.S. into Europe. The investments will accelerate Car Charging Group’s European initiatives, remarked Farkas. Europe provides a great opportunity for the company, as EVs are quickly accepted in the region due to extensive consumer interest, considerable governmental support and high fuel cost. Farkas added that they are investigating several innovative projects that will extensively increase the company’s footprint and operations in Europe.
The exclusive business model of Car Charging Group accelerates the implementation of public EV charging services. The company pays for the entire installation, operation, maintenance and related services, thus minimizing the property owner’s capital investments to zero. Car Charging Group has over 30 strategic collaborations from various sectors, including retail parking, governments, parking garages, shopping malls, and municipalities.
Source: http://ww.carcharging.com