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ECOtality's eTec Awarded $8 Million From California Energy Commission to Support Largest-Ever Transportation Electrification Project Monday 08/31/2009 8:00 AM ET - Businesswire
Related Companies Symbol Last %Chg ETLY 0.135 8.00% SRE 50.11 -1.63%
As of 1:50 PM ET 8/31/09 Electric Transportation Engineering Corporation (eTec), a subsidiary of ECOtality, Inc. (OTCBB:ETLY), a leader in the clean electric transportation and storage technologies, announced today it has been awarded an estimated $8 million from the California Energy Commission to support the deployment of charge infrastructure and electric vehicles (EVs) in the San Diego region as part of its "American Recovery and Reinvestment Act of 2009 Cost Share: Alternative and Renewable Fuel and Vehicle Technology Program."
"As eTec's proposed project to the U.S. Department of Energy is anticipated to deploy up to 2,550 charging stations in the San Diego area, this additional funding from the California Energy Commission will allow for a substantial increase in the amount of charge infrastructure deployed in the region," said Don Karner, president, eTec. "We'd like to thank the California Energy Commission and the State of California for their support of the largest transportation electrification project ever and commend their strategic foresight in positioning California as a leader in electric transportation."
The California Energy Commission awarded funds to projects that successfully received federal funds from the U.S. Department of Energy's American Recovery and Reinvestment Act of 2009 (ARRA) Transportation Electrification Funding Opportunity Announcement. On August 5, 2009 ECOtality's eTec was awarded $99.8 million from the U.S. Department of Energy to implement the largest deployment of electric vehicles (EVs) and charging infrastructure in U.S. history.
In eTec's proposed project to the U.S. Department of Energy, eTec is partnering with Nissan North America to deploy up to 5,000 Nissan LEAF EVs and approximately 12,750 charging stations throughout five states: Arizona, California, Oregon, Tennessee and Washington. The project will collect and analyze data characterizing vehicle use and charging patterns in diverse topographies and climate conditions, evaluate the effectiveness of charge infrastructure, and conduct trials of various revenue systems for public charge infrastructure. By testing and analyzing electric vehicle usage and charging patterns in a simulated mature charging environment, this project will foster the expansion of EV infrastructure that will be available for widespread EV use throughout the country.
"The California Energy Commission award affirms the position of the State of California at the forefront of the electric transportation evolution and ensures that the San Diego region will have one of the most advanced EV charging infrastructures in the world," said Jonathan Read, president and CEO, ECOtality. "As the eTec project undertakes to make America EV ready, stimulate job creation and enhance our energy independence, this additional funding will help us achieve these important objectives."
Regional project partner, San Diego Gas & Electric (SDG&E), will play an important role in the eTec project by evaluating demand and energy impacts of EVs on the electric grid, potential electric vehicle rate structures, smart grid interconnection requirements, distribution grid impacts of EV charging demand and provide consumer education in the San Diego area.
"As a strategic partner on the eTec project, we'd like to thank the California Energy Commission for its funding award to the transportation electrification project," said Debra L. Reed, president and chief executive officer of San Diego Gas & Electric. "With this award, we now have the resources available to make the San Diego region first in the nation when it comes to truly being plug-in ready for electric transportation."
In the San Diego region, partners for eTec's proposed project include San Diego Gas & Electric, San Diego Associations of Governments (SANDAG), San Diego Clean Fuels Coalition, San Diego Miramar College, Center for Sustainable Energy and American Lung Association (CA).
For more information about the California Energy Commission Notice of Proposed Award, please visit: http://www.energy.ca.gov/contracts/PON-08-010_NOPA.PDF. The final award amount may vary and is subject to ongoing contract negotiations with the California Energy Commission and the U.S. Department of Energy.
About eTec
Electric Transportation Engineering Corporation (eTec), a subsidiary of ECOtality, is a recognized leader in the research, development and testing of advanced transportation and energy systems. With over two decades of electric transportation experience, eTec has been involved in every electric vehicle initiative in North America since the 1990's. Utilizing its patented industry-leading charging algorithm, eTec operates the Minit-Charger line of battery fast charge systems for on-road electric vehicle, transit, material handling and airport ground support applications. For more information, please visit www.etecevs.com or www.minit-charger.com.
About ECOtality, Inc.
ECOtality, Inc. (OTCBB:ETLY), headquartered in Scottsdale, Arizona, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels. For more information about ECOtality, Inc. please visit www.ecotality.com.
About San Diego Gas & Electric
SDG&E is a regulated public utility that provides safe and reliable energy service to 3.4 million consumers through 1.4 million electric meters and more than 840,000 natural gas meters in San Diego and southern Orange counties. The utility's area spans 4,100 square miles. Exceptional customer service is a priority of SDG&E as it seeks to enhance the region's quality of life. SDG&E is a subsidiary of Sempra Energy (NYSE:SRE), a Fortune 500 energy services holding company based in San Diego.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
ECOtality Completes Joint Ventures for Manufacturing & Distribution in China Wednesday 09/16/2009 8:00 AM ET - Businesswire
Related Companies Symbol Last %Chg ETLY 0.1339 8.86%
As of 12:11 PM ET 9/16/09 ECOtality, Inc. (OTCBB: ETLY), a leader in clean electric transportation and storage technologies, today announced it signed definitive agreements with Shenzhen Goch Investment, Ltd. (SGI) establishing two joint venture companies in China. SGI will provide $10 million to fund a joint venture with ECOtality to manufacture and assemble electric vehicle charging equipment and $5 million to fund a joint venture to market and sell these charging systems in China.
"The joint ventures with Shenzhen Goch Investment expands ECOtality's global leadership role in electric transportation and equips us with the required assets for immediate and successful penetration into the China market," stated Jonathan Read, president and CEO, ECOtality. "We look forward to participating in China's extraordinary transition to electric transportation and believe these joint ventures provide flexible and high-quality manufacturing operations to meet our anticipated growth and to service the increasing demand for our charging systems in Asia, the Middle East and Europe."
According to a recent industry report by Pike Research, "Electric Vehicles on the Grid," the global market for electric vehicle charging equipment is expected to become a $1.9 billion annual industry by 2015, in which China is expected to be the world leader in charging station installations with 47.8% of annual sales. ECOtality has worked on every North American electric vehicle initiative since the 1990s and has exclusive rights to the patented Minit-Charger technologies that can provide a safe and meaningful charge for an EV in approximately 15 minutes.
"As Tianjin is one of the 13 pilot cities in China that will pioneer the introduction of electric vehicles, this joint venture between Shenzhen Goch Investment and ECOtality will help provide the charge infrastructure that will enable Tianjin and China to achieve our new energy objectives," said Dr. Dongsheng Gong, founder and chairman, Shenzhen Goch Investment. "ECOtality is the leader in electric transportation charging infrastructure, and we are excited to create a strong and prosperous partnership in China that will supply high-quality charging systems for industrial, airport and on-road electric vehicle applications around the world."
In exchange for exclusive sales and distribution rights for ECOtality's charging systems in China, Shenzhen Goch Investment agreed to invest $10 million into a manufacturing joint venture and $5 million into a sales joint venture with ECOtality. The definitive joint venture agreements were executed by Dr. Gong and Jonathan Read on Tuesday at the Tianjin Goch Hi-Tech Industrial Park, the anticipated site of the joint venture manufacturing facility.
About ECOtality, Inc.
ECOtality, Inc. (OTCBB: ETLY), headquartered in Scottsdale, Arizona, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels. For more information about ECOtality, Inc., please visit www.ecotality.com
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Hey folks, just found this on another board, looks like this one may move. Comment by "CAMO"
Looks like this company can't help but make money. I just can't figure out why everyone jumps on the crap with no revenue or prospects, then leaves this one alone with stimulas money, govt contract,( eTec, was recently awarded $99.8 million from the U.S. Department of Energy and another $8 million from the California Energy Commission to implement the largest transportation electrification project in history) deals in china ($5 million to fund a joint venture to market and sell these charging systems in China. THE LARGEST TRANSPORTATION ELECTRIFICATOIN PROJECT IN HISTORY!!!Come on people, stop wasting your money on every fly by company that promises a cure for cancer and rock this stock!!!
so...if anyone knows why this stock doesn't soar, please let me know.. thanks
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Good luck to you. I have held it for a while now. It seems to have alot going on, but for some reason people aren't buying it. The china deal sounds good. I know there is pressure on the chinese to clean up there act as far as the environment goes. I think the only way this company could fail is if oil goes to $20.00/barrel. Its kinda strange when all the green technology rolled out, gas went down...Big oil companies playing us I think.
Coulomb Technologies to Demonstrate Level 2 SAE J1772 Fast Charge of Tesla 21 September 2009 Coulomb Technologies will demonstrate a Level 2 SAE J1772 fast charge of an electric Tesla Roadster on 23 September in Arizona, following a meeting of the Tucson Regional Clean Cities Coalition.
The demonstration is sponsored by the Pima Association of Governments (PAG)’s Clean Cities Program, the City of Tucson, and Coulomb Technologies. The Tesla Roadster has a charge range of 244 miles and goes from 0-60 in 3.9 seconds.
The PAG Regional Council signed a memorandum of understanding with Nissan North America and Scottsdale-based ECOtality Inc. in March to help implement electric vehicle infrastructure in the Tucson region in advance of the late 2010 deployment of Nissan’s all-electric Leaf.
ECOtality's eTec Awarded Patent for Bridge Power Manager Thursday 09/24/2009 8:00 AM ET - Businesswire
Related Companies Symbol Last %Chg ETLY 0.193 20.63%
As of 11:16 AM ET 9/25/09 Electric Transportation Engineering Corporation (eTec), a subsidiary of ECOtality, Inc. (OTCBB: ETLY), a leader in the clean electric transportation and storage technologies, announced today it has been awarded a patent for its Bridge Power Manager (BPM) by the United States Patent and Trademark Office. The BPM provides cost effective means to share power with existing electric circuits for eTec's Minit-Charger(TM) line of fast charge systems.
"The BPM takes advantage of existing power circuits and eliminates the need for airports and other fast-charge host locations to design and construct new circuits for installing fast chargers, saving host locations time and money," said Don Karner, eTec's president. "This patent exemplifies eTec's dedication to providing effective technology solutions that help streamline the transition to electric vehicles in critical airport ground support, material handling and on-road electric vehicle applications."
Airports are a natural location to implement this power sharing technology as many are power limited, thus preventing the implementation of electric ground support equipment (GSE). Since electric supply circuits that provide bridge power at airport gates are only used for short periods of time -- when a jet arrives and passengers board and deplane -- those circuits are unused for a majority of the time, leaving spare power capacity. The BPM uses that spare power capacity to provide branch power to a Minit-Charger(TM) fast charger. When the passenger boarding bridge is in use, the eTec BPM decreases power to the Minit-Charger(TM) unit, then automatically returns the charger to full power once the bridge is no longer in use, without any input from an operator. While the BPM was specifically designed for airport use, the technology can be utilized in other applications, including on-road electric vehicle use, to allow spare power capacity from existing supply circuits to be shared and between fast charge systems.
By eliminating the need for new supply circuits, the eTec BPM substantially reduces both the time and cost required to design and construct new power circuits at an airport. The BPM allows airports and airlines to implement electric GSE at locations where power limitations prevented the installation of the charging infrastructure. Electric ground support equipment has been shown to reduce annual fueling costs by 70 to 80 percent and total operating costs by 30 to 40 percent (when compared to support equipment fueled by gasoline or diesel fuel). Furthermore, electric GSE eliminates the pollution generated by gasoline- and diesel-powered equipment.
"In addition to the tremendous benefits the eTec BPM provides to ground support equipment, this technology also paves the way for an on-road application that utilizes existing circuits for electric vehicle multi-charge locations," said Jonathan Read, president and CEO, ECOtality. "The BPM patent further validates and enhances ECOtality's leading fast charge technology portfolio by minimizing charger installations costs, maximizing use of existing power sources and ensuring an efficient transition to electric transportation."
About eTec
Electric Transportation Engineering Corporation (eTec), a subsidiary of ECOtality, is a recognized leader in the research, development and testing of advanced transportation and energy systems. With over two decades of electric transportation experience, eTec has been involved in every electric vehicle initiative in North America since the 1990's. Utilizing its patented industry-leading charging algorithm, eTec operates the Minit-Charger line of battery fast charge systems for on-road electric vehicle, transit, material handling and airport ground support applications. For more information, please visit www.etecevs.com or www.minit-charger.com.
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