Largest owner, operator, and provider of electric vehicle charging services continues to improve key performance indicators
Car Charging Group, Inc. (OTCQB: CCGI) (“CarCharging”), the largest owner, operator, and provider of electric vehicle (EV) charging services, announced its financial results for the first quarter of 2014. After growing the business in 2013 through organic growth and various acquisitions, CarCharging’s key performance indicators continue to improve.
Highlights from the 1st Quarter of 2014 include:
- Generated revenues of $255,659 from charging fees of installed EV charging stations for the first quarter of 2014 as compared to $10,576 from the first quarter of 2013, which represents an increase of 2,317%.
- Monthly kilowatt-hour (kWh) charging output grew from 7,487 at the end of the first quarter of 2013 to 370,354 at the end of the first quarter of 2014, which represents an increase of 4,847%.
- Inventory increased by over 3,847% with 4,026 EV charging stations held at the end of the first quarter of 2014 versus 102 at the end of the first quarter of 2013.
*The Company’s financial results appear in the Company’s Quarterly Report on Form 10-Q, which was filed with the SEC on June 6, 2014.
“While 2013 was an exceptional year for the company, 2014 continues to be an exciting year for CarCharging,” stated Michael D. Farkas, CarCharging’s Chief Executive Officer. “We resumed sales of our Level II residential EV charging station, the Blink HQ, launched our mobile app, which is the first app to allow drivers to pay and initiate charging sessions on multiple EV networks, and we look forward to the launch of Nissan’s No Charge to Charge program, which will help monetize our assets.”
