Car Charging Group to utilize $2.5 million funding for growth opportunities in Europe

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Car Charging Group to utilize $2.5 million funding for growth opportunities in Europe

Greentech Lead America: Car Charging Group, a provider of
electric vehicle charging services, has received a $1.0 million investment.

The company expects to receive an additional $1.5 million
investment within 60 days of the initial financing.

Investors will receive rights to five percent of Car
Charging Europe, a foreign subsidiary the company is currently in the process
of forming. The investments will be used to accelerate the company’s growth
opportunities through its future foreign subsidiary.

“I believe this investment validates our European
strategy. Like us, our investors believe in the significant growth
opportunities that exist in the European EV marketplace as well as our ability
to leverage our success in the United States into Europe. This investment will
accelerate our European initiatives,” said Michael D. Farkas, chief
executive officer of Car Charging Group.

The company is exploring a number of innovative projects
that would significantly expand our operations and footprint in Europe. Europe
represents a very exciting opportunity as EVs are rapidly becoming mainstream
due to the high cost of fuel, significant governmental support and widespread
consumer interest.  

CCGI provides a comprehensive turn-key electric vehicle
charging service to commercial and residential property owners employing the
most advanced technology, both software and hardware, to build a robust,
feature-rich network attracting businesses and consumers alike.

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