ECOtality announces filing for NASDAQ listing

16 February 2010

US-based electric transportation and storage company ECOtality has filed an application to list its common stock on the NASDAQ Capital Market.

‘We believe the move to the NASDAQ Capital Market is the next logical step in the company’s future growth and will allow our company to gain exposure and be recognised by a broader segment of the investment community,’ said ECOtality president and CEO Jonathan Read. ‘With rapidly increasing operations within the US and increased activity in the international markets, management believes now is the time to move to a larger exchange. As we move forward with the deployment of electric vehicle infrastructure on a global scale, a NASDAQ audience will allow us to attract additional investors and improve shareholder value.’

In the US, ECOtality’s wholly owned subsidiary, eTec (Electric Transportation Engineering Corporation), is the project manager for the electric vehicle project and will oversee the company’s rollout of electric vehicle infrastructure in the US. The total project value is approximately $200m.

Earlier this year, the company announced creation of ECOtality Australia, headquartered in Brisbane, Queensland, where it said it is already seeing success through the marketing and distribution of battery-charging equipment to on-road electric vehicles, industrial equipment and electric airport ground support equipment.

In 2009, ECOtality entered into a joint venture with China’s Shenzhen Goch Investment, providing $15m to establish manufacturing and distribution for electric vehicle charging systems in China.

The NASDAQ listing application is subject to review and approval by NASDAQ’s Listing Qualifications Department for compliance with all NASDAQ Capital Market Standards.
Headquartered in Scottsdale, Arizona, ECOtality develops clean electric transportation and storage technology.

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Tags: electric vehicle

This story was published on Tuesday, February 16th, 2010 at 6:15 pm and is filed under North America, companies, energy storage. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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