New Symbol is NASDAQ:ECTY
First Day of Trading to Be Determined Later This Month
ECOtality, Inc. (OTCBB: ETLE), a leader in clean electric transportation and storage technologies, announced today that it has been approved to trade shares of its common stock on the NASDAQ Capital Market. The company will trade under a new ticker symbol, NASDAQ:ECTY, with an announcement regarding the first day of trading expected before the end of May.
"The transition to NASDAQ gives ECOtality much greater exposure to large institutions and funds, as well as much more transparency for the market; the result is a more accurate evaluation of our company and an increase in shareholder value," said ECOtality President and CEO Jonathan Read. "We are honored by the approval, particularly as our company continues to expand its global presence as the leading provider of infrastructure for electric vehicles."
ECOtality North America is the lead partner and project manager for The EV Project, the largest-ever deployment of residential and commercial charge stations for electric vehicles. The EV Project was created in 2009 with a stimulus grant of approximately $99.8 million from the U.S. Department of Energy, through the American Reinvestment and Recovery Act, with the goal of creating thousands of new jobs, preserving existing jobs, and jump-starting the economy. With a match from partners, The EV Project has a total value of more than $200 million, and will support electric vehicles with residential, commercial and public chargers in major markets in five states: Arizona (Phoenix & Tucson metropolitan areas), Washington (Seattle area), Oregon (Portland, Salem, Corvallis and Eugene), California (San Diego) and Tennessee (Knoxville, Chattanooga and Nashville).
About ECOtality, Inc.
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. 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:
Media:
ECOtality, Inc.
Jeanine L'Ecuyer, 480-776-2176
jlecuyer@ecotality.com
or
Investor
Relations:
Alliance Advisors for ECOtality
Thomas Walsh,
212-398-3486
twalsh@allianceadvisors.net
