Overview

Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with its landowner partners to identify appropriate locations for its charging stations. The Company seeks to provide convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.

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Investment Highlights

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Profile

An estimated 40 million plug-in electric vehicles, such as the Nissan Leaf, GM Chevy Volt, Fisker Automotive Karma, and Tesla Roadster, are expected to be on the road by 2030, some as early as by the end of 2010.

For years now, there has been much hype surrounding the promises of this industry, but with very little real adoption by mainstream end users. Finally, however, it appears 2010 very well may be the year in which the promise of the electric vehicle comes to fruition.

The most important factor driving this industry forward is the many federal government initiatives currently targeting the growth of green technologies, including Department of Energy grants and loans and a meaningful portion of the Obama economic stimulus package that provides more than $30 billion in tax credits and grants for green energy programs, with a large portion of these funds ($2.4 billion) specifically directed at developing advanced battery technologies. Additionally, an added “federal push” is being generated by the upcoming 2016 fuel efficiency mandate that calls for an average of 35 miles per gallon.

While one of the most significant advancements in the electric vehicle industry over the last few years has been the development of the energy dense lithium ion battery, this technology is still far from perfect. To date, even the most advanced electric vehicles generally cannot travel even half of the distance of the average gasoline powered vehicle – and we would note this is under optimal circumstances.

Although private enterprise is acting quickly to fill this void in the electric vehicle industry by enabling electric car drivers to travel longer and farther through the installation of electric vehicle charging stations, thus far implementation of a true, public, nationwide charging station network is really just getting under way. While there are at least 120,000 gas stations in the United States, there are probably fewer than 1,000 publicly located electric vehicle charging stations in the entire country. This situation creates a huge opportunity for companies seeking to fill this obvious need in the market place.

With 40% of U.S. residents lacking even a carport at home, much less a personal garage, the need for public location charging stations is expected to be considerable. Today, there are an estimated 250 million cars in the United States and only about 50 million garages, the biggest gap being in high population density urban areas. A recent study from the University of California, Berkeley estimates that as much as $320 billion will be spent on charging infrastructure over the next few decades. Many researchers are suggesting that by 2015, up to 50% of all new vehicles leaving showrooms will be either plug-in hybrids or 100% electric vehicles. As the history of the oil industry relative to the transportation sector indicates, fuel has long been “big business,” and as the uptake of electric vehicles gains momentum, the electric vehicle charging station industry is expected to be no exception.

Car Charging Group, Inc. (OTCBB:CCGI) seeks to become the leading provider of electric car charging stations in user-heavy locations throughout North America by being the first-to-market strategic partner with property owners and municipalities in population dense areas, as well as with corporations and employers who are expected to have a high number of electric vehicles at their locations in the foreseeable future.

The Company’s car charging network will be based on technology manufactured by industry leader, CoulombTechnologies, Inc., with each charging station unit employing advanced wireless networking technology in order to connect individual stations to the Company’s network operations center. This arrangement will enable the remote monitoring, maintenance and servicing of the units as well as allow for the collection of relevant statistics such as the number of vehicle users, amount of energy purchased and whether individual units are currently available or occupied.

The Company’s car charging system, named the ChargePoint™ system employs wireless networking technology that connects the specific charging units with the Company’s network operations center for monitoring maintenance and servicing needs, ensuring proper functionality, and collecting certain relevant statistics such as the number of vehicle users, amount of energy downloaded and charging time required, among others. Additionally, the wireless network connects drivers, via their web enabled mobile phones for example, to the Company’s EV charging station network, enabling customers to gain access to information including near-by charging station locations and the status of whether a unit is currently free and available or occupied. Electric vehicle owners who subscribe to the ChargePoint™ network are able to conveniently use any ChargePoint™ station location in the nation.

CCGI’s advanced wireless interconnected operating network offers additional advantages for the Company, its property owner hosts and customers. Specifically, the network is designed to increase charging station security and virtually eliminate energy theft, increase safety and the reliability of individual charging stations, provide near real time reporting of usage and offer professional vehicle management reports, in addition to other benefits.

The Company will act as an owner and provider of electric car charging station networks with a mission to build out a nationwide infrastructure as a first-in-market leader, enabling vehicle owners to charge their cars anytime and anywhere. As part of this strategy, the Car Charging Group will own, install and maintain the electric vehicle charging stations on behalf of property owners, such as shopping mall operators, retailers and municipalities, among others. The Company initially plans to launch its services in the South Florida market and expand nationally and internationally overtime. Car Charging Group, Inc., is based in Miami Beach, Florida and began trading as a public company in December 2009.

The Company’s management team believes that by securing key strategic alliances in order to gain access to relevant high user volume locations and by investing in charging installations and station network infrastructures today, it will be able to help play a meaningful role in facilitating a seamless mainstream transition to nation of electric car drivers. Specifically, management’s goal is to have hundreds of charging stations up and running by the end of 2010 and, through creative strategic alliances and partnerships.

Recently, there has been a concerted effort on the part of the big U.S. and international automakers to bring electrical vehicles, and the ease of recharging them, to the mainstream public. Today, nearly every major automaker has an active program to develop and introduce electric vehicles to its global consumer base, ultimately providing drivers with a broad range of options. Almost all of the major global car manufacturers have committed to investing heavily in the production of an electric vehicle line going forward including General Motors, Ford, Chrysler, Nissan, Honda, Mercedes, Tesla and Fisker, among others. Many anticipate that automakers will begin making economical electric vehicles widely available to consumers starting in late 2010. In the next three years, at least a dozen pure electric or plug-in hybrid cars are slated to hit the market in the United States alone.

By 2012, up to 10% of all new vehicle sales in the United States are expected to be hybrid vehicles or all-electric vehicles. Additional research suggests that by 2015, 50% of all new global vehicle sales will be for “alternative vehicles,” a figure that is expected to equate to approximately 7 million to 10 million or more vehicles annually in United States alone. U.S. President Barack Obama has even stated his intention to put a million electric vehicles on the road by 2015 as part of the new U.S. effort to cut greenhouse gas emissions linked to global warming. Plug-in hybrids, which are part of President Obama’s goal of having one million electric cars on the roads by 2015, may account for 25% of auto sales by 2020, according to separate studies by the Department of Energy and environmental groups.

Looking at the stock from a technical perspective, we had the CCGI chart examined by a technical chartist recently (September 15, 2010). CCGI has been on a bit of a rollercoaster ride as of recently, but as is evident in the video chart, seems to have found strong footing in the $0.80 level. While the stock is off significantly from its recent highs, it is a very volatile stock and moves quite quickly. Given the strong support around $0.80, it looks like CCGI may have hit its bottom and may be poised for a run upwards. To listen to the full CCGI video chart, including what many of the most important technical indicators are saying about the stock price as well as support and resistance levels, we encourage our investors to view the technical video chart here.

Like we always say at this point in our profile, remember that these are only our interpretations of CCGI`s stock chart. As always, we encourage all investors to do their own due diligence and consult with a financial advisor prior to making any investment decisions.

In late August, 2010 the Company announced major news that it had entered into a pilot agreement with Icon Parking Systems, the premier provider of parking services in Manhattan, to provide electric vehicle (EV) charging stations at select trial locations helping to smooth the transition to EV by creating a useful charging network for Icon's customers.

"This partnership lays the groundwork in Manhattan to support the national roll-out of electric automobiles on the way to dealer showrooms in late 2010 from manufacturers such as Tesla Motors, the Renault and Nissan alliance, General Motors, Ford and others," said Car Charging Group CEO Michael D. Farkas.

Icon Parking Systems operates more than 200 parking facilities in Manhattan. Many of Icon's locations are in the City's busiest and most vibrant commercial neighborhoods, others can be found near famous New York City landmarks, and many are in residential areas throughout the City.

Last month, New York joined other cities including San Francisco, Austin and Detroit, as part of a nationwide push to add infrastructure for plug-in cars by installing its first public electric-vehicle charging station. According to New York City Mayor Michael Bloomberg, the city now has 6,000 alternative fuel vehicles in its fleet of 26,000 vehicles.

Rubbing shoulders with large Companies such as Icon Parking Systems may prove quite lucrative for CCGI as it continues to rollout its electric vehicle charging stations and significantly add to the Company's bottom line. As if that wasn't big enough news, the Company announced just a month prior to that announcement that they were partnering with national parking company, LAZ Parking NY/NJ, LLC to provide charging stations for electric vehicles at LAZ Parking locations throughout the New York and New Jersey metropolitan areas. This partnership is an effort to support the potential need for electric vehicle charging stations nationwide to satisfy the plans of automobile manufacturers such as Tesla Motors, the Renault and Nissan alliance, General Motors, Ford and others lining up to offer consumers a choice of electric vehicles available in dealer showrooms during 2010.

Formed in 1981 with a single valet location in Hartford, Connecticut, LAZ Parking has developed into one of the largest parking companies in the United States, operating over 1,300 parking facilities in 21 states and 99 cities, managing in excess of 425,000 parking spaces, 6,000 employees and $500 million in managed revenues.The rising cost of traditional fossil fuels, growing environmental concerns, continued global governmental support for renewable energy alternatives and advancements in electric vehicle technologies are expected to significantly facilitate growth in consumer uptake of electric vehicles, particularly in developed nations over the next several years.

As electric vehicles becoming increasingly pervasive on the roads, the need to develop and expand adequate charging station networks to keep these vehicles operational will also become a top priority worldwide. For these reasons as well as many others, AllPennyStocks.com decided to spotlight Car Charging Group, Inc. (OTCBB:CCGI) as our latest U.S. Company spotlight and encourage investors to do their own due diligence on the Company and add it to their watch lists.

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Company Products

The Company’s product line consists of the CT1000, CT2000 and CT2100 families of the ChargePointTM Networked Charging Stations, manufactured by Coulomb Technologies and specifically designed for the North American vehicle market. Thus, CCGI sources its charging station units from one of the world’s foremost renowned manufacturers and providers of leading, sophisticated technologies of “smart” charging units.

Within this state-of-the-art product line, the CT1000 family of charging stations supports Level 1 (120 volts @ 16 amps) charging capabilities. Level 1 charging is sufficient for some charging applications but it is thought that the next generation of the technology, Level 2, will be needed for the promise of the ubiquitous electric vehicle to be realized. The next generation CT2000 family of charging stations supports dedicated networked Level II (208/240 volts @ 32 amps) charging capabilities. Likewise, the CT2100 family supports simultaneous Level II (208/240V @ 32A) charging and Level I (120V @ 16A) charging.

These charging stations, combined with the Company developed network operating system (“NOS”), which is called the ChargePointTM Network Operating System, form a smart-charging-infrastructure for plug-in electric vehicles called the ChargePointTM Network.

CCGI management believes its offering of the ChargePointTM EV charging devices and infrastructure represents the forefront of electric vehicle charging station technology.

Given that the Company is in the business of securing, owning and operating electric vehicle charging stations wherever drivers charge their cars, CCGI is not itself in the business of actually building the units nor of developing the specific technologies behind the EV chargers. Instead, Car Charging Group acts as a systems integrator, bundling different technologies into one comprehensive solution.

It should also be noted that, while the Company currently provides Coulomb Technologies’ line of ChargePoint™ Networked Charging Stations on a non-exclusive basis, Car Charging Group remains open to augmenting its charging station offering with solutions by other leading manufacturers as it determines to be best suited to market conditions.

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Recent News and Press Releases

Car Charging Group Partners With Kobi Karp Architecture & Interior Design to Incorporate Electric Vehicle Charging Stations Into Company's Designs Concepts
GlobeNewswire (Wed, Sep 1)

A New Audio Interview Featuring Car Charging Group CEO Michael D. Farkas, is now at SmallCapVoice.com
Business Wire (Mon, Aug 30)

Car Charging Group Paves the Way for Dania Beach With New Electric Vehicle Charging Stations
GlobeNewswire (Thu, Aug 26)

Car Charging Group, Inc. Partners With Icon Parking in Manhattan to Offer Electric Vehicle (EV) Charging Stations
Marketwire (Mon, Aug 23)

Katz & Company Equity Research Initiates Coverage on Car Charging Group, Inc. With a Buy Recommendation
Marketwire (Mon, Aug 16)

Car Charging Group Applauds California for Paving Way to Increase Electric Car Charging Capabilities
GlobeNewswire (Mon, Aug 2)

Car Charging Group (OTCBB: CCGI) Partners With Laz Parking to Provide Electric Vehicle Charging Stations Throughout the New York and New Jersey Metropolitan Areas
Marketwire (Mon, Jul 26)

Car Charging Group Inc. Joins Designers From Around the World to Showcase Electric Vehicle Charging Station at Miami Swim Week 2010
GlobeNewswire (Fri, Jul 16)

Car Charging Group, Inc. Reaches Agreement With Park, Bark and Fly to Provide Electric Vehicle Chargers at Satellite Parking Lot Near Orlando International Airport
GlobeNewswire (Tue, Jul 6)

 

Car Charging Group Continues to Partner With Real Estate Developers to Facilitate Widespread Adoption of Electric Vehicles by Meeting Needs of Sizable Urban Resident Market
GlobeNewswire (Thu, Jul 1)

Car Charging Group, Inc. Completes Installation of Electric Car Chargers at The Delray Professional Center
GlobeNewswire (Thu, Jun 24)
 

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Management

Michael D. Farkas - CEO

Mr. Farkas is an experienced executive with a 20-year established track record as a principal investor across a variety of industries, including telecommunications, medical technology, aerospace and defense and automotive retail. He previously founded and managed The Farkas Group, a privately held investment firm, and served as chairman and CEO of the Atlas Group of companies.

Andy Kinard - President

Mr. Kinard graduated from the Auburn University in 1987. His first employer was Florida Power & Light 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 got involved with FPL’s EV program. FPL had their own fleet of EV’s that they used to promote the technology.

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 EVs 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 - CFO

Since 1984, Mr. Adeline 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, Mr. Adeline 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 I. Bernstein - General Counsel

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.

Eric Greenberg - Co-Founder & Member of the Company's Advisory Board

For the last four years, Mr. Greenberg, a resident of Israel, has invested in and / or plays a senior management role in a number of start up companies. His areas of investments include electronic commerce, insurance, real estate and finance. Prior to that, Eric played a key role for the better part of seventeen years in portfolio management and trading at a billion dollar hedge fund.

He holds an MBA in finance from Baruch College.

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Contact

Corporate Contact:

Car Charging Group, Inc.
1691 Michigan Ave, Suite 425
Miami Beach, FL 33139
Office: (305) 521-0200
Fax: (305) 521-0201
General Email: info@carcharging.com

Investor Relations Contact:

David Zazoff
ZA Consulting Inc.
116 West 23rd St.
Suite 500
New York, NY 10011
Phone: 212-505-5976

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FORWARD LOOKING STATEMENTS

This report includes forward-looking statements that reflect Car Charging Group, Inc. current expectations about its future results, performance, prospects and opportunities. Car Charging Group, Inc. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Car Charging Group, Inc.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.

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Disclaimer

AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for Car Charging Group, Inc. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.

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