Electric vehicle charging services firm Car Charging Group has reported a 1,860% increase in its net charging revenue to $327,971 during the fiscal year of 2013, compared to $16,743 it earned previous year.
During the year, CarCharging realized numerous strategic initiatives and investments, which solidified its leading position in the rapidly growing EV charging industry. Through both organic growth and acquisitions in 2013, CarCharging became the largest owner and operator of public EV charging stations and infrastructure in the United States.
2013 Highlights:
Completed the acquisitions of Blink, 350Green, Beam Charging, and EVPass.
Acquired and continues to develop the Blink Network, the software that currently operates, monitors and tracks over 13,500 EV charging stations and all related data.
The installed base of charging stations grew from 157 to 14,031, which represents an increase of over 8,837%.
The net EV Charging service fees for the year grew nearly 1,860% from $16,743 to $327,971 with current monthly gross revenues of $95,797.
Monthly kilowatt-hour (kWh) charging output grew from 2,492 to 374,188, which represents an increase of 14,916%.
Inventory increased by over 3,745% with 2,423 EV charging stations held at the end of 2013 versus 63 at the end of 2012.
"2013 was an exceptional year for CarCharging," stated Michael D. Farkas, CarCharging's Chief Executive Officer. "As a result of acquiring three EV charging service providers and the Blink Network, we were able to increase our EV charging locations, inventory, revenues, and resources."
"We anticipate that 2014 will also provide major milestones for the company. Our participation in Nissan's No Charge to Charge Program will help monetize the assets we developed organically or through acquisitions, our innovative mobile application, and our interoperability initiatives with Blink, GE, and SemaConnect, will vastly transform the accessibility of charging services for EV drivers," continued Mr. Farkas.
