ECOtality, Inc. acquired eTec in 2007, adding it to its family of high-tech energy companies. The company anticipates a move to trade its common stock on the NASDAQ Capital Markets exchange shortly; this name change will add even more consistency and transparency to ECOtality’s operations for its investors.
For nearly two decades, eTec has been the industry leader in every aspect of cutting-edge electric charging systems, including systems for electric cars and plug-in hybrids; testing and development of advanced battery systems; and material handling and airport ground-support applications now in use worldwide.
The company has conducted more than 10 million miles of vehicle testing on more than 200 advanced fuel vehicles and has been involved in every major North American electric vehicle initiative since the organization was founded in 1989.
“ETec has been a dominant player in this industry for many years,” said ECOtality President & CEO Jonathan Read. “As ECOtality expands its role as the international leader in electric vehicle charging solutions, we believe the new name is the right way to publicly underscore the power of our combined forces and our commitment to the industry.”
“We will continue to do business with the same commitment and dedication that has been our hallmark for the past 20 years,” said Don Karner, President and CEO of ECOtality North America. “This name change will expand our visibility, allowing us to grow even stronger.”
Together, ECOtality and eTec have been setting the standard for the industry. In October 2009, they began work on The EV Project, the largest-ever electric vehicle charging infrastructure project in the world. The Project was created with a stimulus grant of $99.8 million from the U.S. Department of Energy through the American Recovery and Reinvestment Act (ARRA), matched by partners for a total project value of nearly $200 million.
The Project has already been responsible for creation and retention of hundreds of American jobs and is estimated to create at least 5,500 new jobs by 2017.
With the assistance of more than forty partners, The EV Project will deliver 4,700 Nissan zero-emission LEAF electric vehicles and a total of over 12,000 residential and commercial chargers to target markets in five states.
The mission of the Project is to evaluate the use of electric vehicles and charging systems in diverse geographies and climates, then use that information to build a foundation that will optimize adoption of electric vehicles nationwide.
ECOtality North America’s new web address is www.ecotalityna.com, although users will still be able to link through the existing eTec website and will be able to reach staff by using the current email addresses and telephone numbers. For more information about the ECOtality family of companies, please visit www.ecotality.com.
ECOtality, Inc. (OTCBB:ETLE), headquartered in Tempe, 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.