This is truly a milestone in the US' commitment and adoption of Electric Vehicles. While you could take away that the government gave a private company a big wad of cash to do their job, there's much more to it than that. Due to the grant's objectives, the transparency guidelines for taking the money, and observing consumer behaviors, we stand to learn a LOT from this massive project. Things like...
- Monetizing electric vehicle charging - what works and what doesn't
- The best places to install charging stations...especially fast chargers
- How does having a charger near a retail or restaurant affect consumer behavior?
- How and when people charge their vehicles. This gives us insight into how range anxiety affects EV owners
- What will be the actual dynamic between municipalities, utilities, business, and consumers on their adoption in the various cities?
PHOENIX / SCOTTSDALE, Ariz. – October 1, 2009 – Electric Transportation Engineering Corporation (eTec), a subsidiary of ECOtality, Inc. (OTCBB: ETLY), a leader in clean electric transportation and storage technologies, today announced it has officially signed a contract with the U.S. Department of Energy for a grant of exactly $99.8 million to undertake the largest deployment of electric vehicles (EVs) and charging infrastructure in history.
The final scope of work for The Electric Vehicle (EV) Project will include the deployment of 10,950 Level 2 (220V) chargers, 260 Level 3 fast-chargers and 4,700 Nissan LEAF zero-emission electric vehicles in five states: Arizona, California, Oregon, Tennessee, and Washington. In conjunction with the contract signing, The EV Project officially commenced on October 1, 2009.
"Today marks a significant day for America - with the contract officially in place with the U.S. Department of Energy, eTec can formally begin its work to implement the largest transportation electrification project in history," said Don Karner, President, eTec. "We would like to thank the U.S. Department of Energy and the Obama Administration for investing in clean energy programs such as The EV Project. With the support of our Project partners, we look forward to a successful Project that will change the way America drives for the better."
www.theEVproject.com. The site is designed to provide general information about The EV Project and provides information about how to purchase a Nissan LEAF and sign-up to receive free charge infrastructure at a home or business. The interactive site also offers real time maps to show where current charge stations are located, allows visitors to track the deployment of charge infrastructure and provides the public the ability to suggest new charge locations in the markets infrastructure will be deployed.
"With the contracts in place and The EV Project officially launched, we can now work to make widespread electric vehicle use a reality by studying lessons learned from this Project and providing a blueprint for other cities to adopt electric vehicles," said Jonathan Read, President and CEO, ECOtality. "The EV Project will have a tremendous impact on the country by creating new jobs, bolstering America's energy independence, and promoting clean electric transportation that will significantly reducing carbon emissions and protect our environment."
The EV 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, The EV Project will foster the expansion of EV infrastructure that will be available for widespread EV use throughout the country.
Electric Transportation Engineering Corporation (eTec), a subsidiary of ECOtality (OTCBB: ETLY - News ), 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 1990s. 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.
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.
Alliance Advisors for ECOtality