CarCharging,
a nationwide provider of electric vehicle (EV) charging services, reports that
it has raised $10 million with institutional investors, which the company
intends to use to strengthen its balance sheet and to provide additional
operating capital for expansion.
“We
always appreciate the support of our shareholders, both existing and new, and
are thrilled to have completed this capital raise,” Michael D. Farkas, CEO of
CarCharging, stated in the news release. “This additional equity will assist
CarCharging in continuing its position as the leader in the EV charging
industry, to pursue new opportunities, and to enhance our long-term growth.”
The
company’s expansion plans include its active pursuit of a potential uplisting
to a national stock exchange, launching a solution designed to streamline the
charging and payment process for EV drivers, and securing patents for
innovative concepts for EV charging solutions.
CarCharging
is headquartered in Miami Beach, Fla., with offices in San Francisco, New York,
Phoenix and Barcelona, Spain. In 2013 the company acquired four EV charging
service providers, including Blink® and the Blink® Network, the software that
operates, monitors and tracks the Blink stations and all of its charging data.
Through this acquisition, CarCharging owns, operates or manages more than
13,950 charging points in 35 states and three countries.
The
company’s comprehensive turnkey program is applicable to both commercial and
residential property owners for EV charging services.
For
more information, visit www.carcharging.com
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