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ABB Signs Licensing Agreement with ECOtality to Utilize the Blink® EV Charging Network - ABB announced it has signed a $5 million dollar non-exclusive licensing agreement with ECOtality, Inc. to utilize ECOtality’s Blink® Network for ABB’s electric vehicle (EV) charging systems - ECOtality.com / ABB.com
ABB Signs Licensing Agreement with ECOtality to Utilize the Blink® EV Charging Network

 

PRZOOM - /newswire/ - Zurich, Switzerland, 2012/03/14 - ABB announced it has signed a $5 million dollar non-exclusive licensing agreement with ECOtality, Inc. to utilize ECOtality’s Blink® Network for ABB’s electric vehicle (EV) charging systems - ECOtality.com / ABB.com. NASDAQ: ECTY

   
 
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ABB, the leading power and automation technology group, today announced it has signed a $5 million dollar non-exclusive licensing agreement with ECOtality, Inc., a leader in clean electric transportation and storage technologies, to utilize ECOtality’s Blink® Network for ABB’s electric vehicle (EV) charging systems.

The Blink Network is a robust operating platform that enables EV charging providers to integrate with utilities and other third parties to facilitate data exchange, utility services, energy management, media communications, and membership and payment programs. The Blink Network provides EV drivers the freedom to travel as they choose and conveniently charge at Blink enabled commercial locations along the way.

Concurrently, ABB made a follow-on investment in ECOtality of $5 million in the form of convertible debt. This investment follows the $14 million venture capital investment ABB made in the company in 2011. ABB’s EV infrastructure portfolio was strengthened last year following the acquisition of Netherlands-based Epyon, an early leader in electric vehicle charging infrastructure solutions, including DC fast charging systems and associated back-office systems which can be connected to various Business-to-Consumer service platforms such as the Blink Network.

About ECOtality, Inc.
ECOtality, Inc. (ecotality.com), 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.

About ABB
ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 135,000 people.

 
 
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ABB Signs Licensing Agreement with ECOtality to Utilize the Blink® EV Charging Network

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Contact: Caitlin Cieslik-Miskimen - AntennaGroup.com 
201-294-0199 caitlin[.]antennagroup.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ECOtality, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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