ECOtality, Inc. (OTCBB: ETLY), a leader in clean electric transportation and storage technologies, applauds President-elect Barack Obama on his comprehensive energy plan to confront our dependence upon foreign oil and build a clean energy future for America.
ECOtality believes that throughout their campaigns, both presidential candidates vigorously promoted national agendas to advance clean energy and the adoption of electric transportation to alleviate America's dependence on foreign oil. According to President-elect Obama's website (www.barackobama.com), the Obama-Biden plan aims to “make the U.S. a leader on climate change” and to "put 1 million Plug-In Hybrid cars -- cars that can get up to 150 miles per gallon -- on the road by 2015.” Other goals of the Obama-Biden plan include:
- Invest $150 billion over 10 years to accelerate the commercialization of plug-in hybrids (PHEVs), commercial scale renewable energy, low emissions coal plants, the next generation of fuel infrastructure and the transition to a new digital electricity grid
- Convert the entire White House fleet to plug-ins within Obama's first year of office
- Ensure that half of all cars purchased by the federal government be PHEVs or EVs by 2012
- Provide a $7,000 tax credit for the purchase of advanced technology vehicles as well as conversion tax credits
- Require 10% of electricity to come from renewable sources by 2012
“With our industry leading experience in electric vehicles and electric transportation infrastructure, combined with our strong solar offerings, ECOtality is uniquely positioned to directly support President-elect Obama’s energy goals,” said Jonathan Read, president and CEO, ECOtality. “As we have the most advanced fast-charging technology and having installed more on-road charging systems in North America than any company, ECOtality is situated to be the leading infrastructure provider for electric transportation. Leveraging our strong relationships with the Department of Energy, major utilities, and automotive manufacturers, ECOtality will aggressively support the Obama-Biden Energy Plan by laying the groundwork for the mass adoption of electric vehicles.”
ECOtality congratulates President-elect Obama on his historic victory and looks forward to working with the new Administration, Congress, and regulators to advance the infrastructure for electric transportation and the adoption of cleaner energy.
About ECOtality, Inc.
ECOtality, Inc. (OTCBB: ETLY), headquartered in Scottsdale, 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. 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.
Contacts:
ECOtality, Inc.
Colin Read, Marketing
Director, 480-219-5005
cread@ecotality.com
or
Investor
Relations:
Alliance Advisors for ECOtality
Thomas Walsh,
212-398-3486
twalsh@allianceadvisors.net
