Think of it as a plug-in pu pu platter, albeit a rather depressing one. That's the option cash-heavy investors with an eye for electrified light-duty vehicles had as charging-station maker Ecotality joined Fisker Automotive among entities whose assets were up for auction last week.

When Ecotality filed for bankruptcy protection last month in an Arizona court, Nissan North America said it would provide as much as $1.25 million in financing in order to keep the company going. Ecotality then had its request to have its auction delayed until next week denied, Plug In Cars reports, and so the winning bid last week was by Blink Acquisition. Blink Acquisition is a wholly-owned subsidiary of CarCharging Group, which paid $3.4 million for the Blink-related assets of Ecotality. That's a somewhat stunning considering that Ecotality was once the recipient of a $100 million contract from the US Department of Energy for its Blink charging-station network. The Blink assets now include the over "12,450 installed electric vehicle Level II charging stations, the 110 DC Fast charging stations, and the Blink network". It does not include the Minit-Charger fast-charging systems.

Before CarCharging Group stepped in, the only known bidder was California-based Tellus Power, a division of little-known Hong Kong-based company Tusai. The bid was believed to be for about $3 million. The Energy Department was scheduled to run an auction for Fisker Automotive's assets on Friday. The maker of the extended-range plug-in Karma isn't technically bankrupt, but it hasn't made a car in more than a year.
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CarCharging Successfully Wins Bid to Purchase ECOtality's Blink Assets

October 10, 2013, 4:00 PM EDT

Leading Electric Vehicle Charging Service Provider Intends to Purchase Blink's More Than 12,000 EV Charging Stations and Operating System

Blink Acquisition, a wholly-owned subsidiary of Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of convenient electric vehicle (EV) charging services, announced today that it has successfully won the bid to purchase the Blink related assets of ECOtality, a clean electric transportation and storage technology firm.

The assets included in the transaction are all of Blink's inventory, the more than 12,450 installed electric vehicle Level II charging stations, the 110 DC Fast charging stations, and the Blink network, which is the turnkey operating system for EV drivers, commercial businesses, and utilities, that services the Blink stations.

"Since our inception, CarCharging's intent has been to grow our business organically and through acquisitions, and with the purchase of ECOtality's Blink assets, we believe that it will solidify our position as the leader in the electric vehicle charging industry," stated CarCharging's Chief Executive Officer, Michael D. Farkas.

The deal does not include Minit-Charger, which manufactures and distributes fast-charging systems for material handling and airport ground support vehicles; or ETEC LABS, ECOtality's research and testing resource for governments, automotive OEMs and utilities. The transaction is anticipated to close shortly.


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    • 1 Second Ago
  • 7 Comments
      • 6 Hours Ago
      Type your comment hereThank god this plan went through, hopefully we will see some guidance from TheEVproject on 3rd and 4th qtr reports or even if we are being held to the DoE deal to continue providing stats to them. Many of us have had zero issues but some have had fires, J1772 handle meltdowns and interruptions in service due to a faulty unit. I particularly have had zero issues but would like to get a smaller...less fancy unit. Hopefully we will hear something about TheEVproject's goal and if their data is still needed... no more units being installed = current units are providing all the information possible (just duplicating) from now forward.
      pmpjunkie01
      • 6 Hours Ago
      $ 273.09 per installed level 2 charger? Nice one!
      bluepongo1
      • 6 Hours Ago
      Tesla Motors missed a chance to buy tech they made obsolete for the scrap copper at market prices to turn into Superchargers?
        MTN RANGER
        • 6 Hours Ago
        @bluepongo1
        I still see lots of Model S charging at L2s by me. L2 and superchargers both have their place in the EV ecosystem.
          bluepongo1
          • 6 Hours Ago
          @MTN RANGER
          Ask those folks if they would prefer to waste less time and use a Supercharger.
          bluepongo1
          • 6 Hours Ago
          @MTN RANGER
          ...since it's better to charge at home while you sleep.
      Dave R
      • 6 Hours Ago
      "...paid $3.4 million for the Blink-related assets of Ecotality That's a somewhat stunning considering that Ecotality was once the recipient of a $100 million contract from the US Department of Energy for its Blink charging-station network." Perhaps you should try to substantiate that statement before making those types of claims. You know - do some actual reporting? Some facts: Ecotaility has quite a bit of debt - not all of which will be forgiven through bankruptcy. The vast majority (8,000 out of 12,000) of the L2 stations were installed at residential locations which will belong to the resident at the end of the EV Project. Installing charging stations is expensive - the hardware is expensive - and being a DOE grant there are strict guidelines on prevailing wage to be paid to subcontractors. The EV Project (the recipient of the $100M grant) was designed to deploy charging stations and collect/analyze information about their use and best practices about deployments - which they have been mostly successful at doing. It is quite likely that many deployed L2 stations will require replacement of their plugs due to faulty crimps - and the supplier of those plugs is not likely to pay for that effort.