ECOtality, Inc. (NASDAQ: ECTY), a leader in clean electric transportation and storage technologies, announced today achievement of a milestone in the development of plug-in electric vehicle infrastructure, with the collection of over 24 million miles of electric vehicle operating data since the inception of The EV Project.
“The EV Project is paving the way for the future of plug-in electric vehicles in America”, stated Don Karner, Chief Innovation Officer of ECOtality, Inc. and Project Manager for The EV Project. “With over 24 million miles of data collected so far, we are gathering extremely valuable insight into how to effectively and efficiently create an EV infrastructure that will help make America less dependent on foreign oil. This is just the beginning, and we look forward to continuing our work on delivering these rich data points.”
The EV Project is currently gathering data at a rate of one-hundred thousand miles per day. The 24 million miles recorded so far is the equivalent to 963 trips around the world. The electric fuel equivalent utilized by EV Project participants represents almost 1 million gallons of gasoline conserved by the use of electric vehicles. Finally, cars in The EV Project have eliminated approximately 8,700 metric tons of CO2 emissions from our air. This information comes from an analysis of approximately 675,000 charge events in key EV Project markets to date.
As part of The EV Project, ECOtality will be releasing over 40 White Papers on various topics ranging from a study of the needs of commercial charging to regulatory issues. These white papers will be available to the public at www.theevproject.com.ECOtality is the project manager of The EV Project, a research initiative to help build America’s future EV infrastructure. The project will study EV infrastructure to support the deployment of EVs in key markets, by collecting and analyzing data from vehicles and chargers. The project is a public-private partnership, funded in part by the U.S. Department of Energy through a federal stimulus grant and made possible by the American Recovery and Reinvestment Act (ARRA). For more information about The EV Project, please visit www.theevproject.com. About ECOtality, Inc. ECOtality, Inc. (NASDAQ: ECTY), headquartered in San Francisco, California, 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. 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.
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