ECOtality Completes Move of Fuel Cell Store to San Diego, Calif.
ECOtality, Inc. (OTCBB: ETLY), a renewable energy company that acquires and commercially advances clean electric technologies and applications, today announced it has completed the transition of Fuel Cell Store from Boulder, Colorado to San Diego, California. Effective immediately, Fuel Cell Store, the leading online retailer of fuel cell products and a subsidiary company of ECOtality, will share warehouse and operational facilities with Innergy Power Corporation, a leader in the design and manufacture of thin sealed rechargeable lead batteries and high quality flat-panel multi-crystalline solar modules that ECOtality acquired in September 2007. Darrell Musick, current president and CEO of Innergy Power, will immediately serve as president and CEO of Fuel Cell Store.
“After four major acquisitions in 2007, we are now working to strategically integrate and streamline our operations in order to capitalize on existing synergies and foster aggressive growth and increased revenues of our subsidiaries,” said Jonathan Read, president and CEO of ECOtality. “While the two will remain separate entities, combining Fuel Cell Store with Innergy’s established organizational structure and management team reduces overhead costs and takes advantage of existing manufacturing, assembly, order processing, customer service, and shipping systems.”
Acquired by ECOtality in June 2007, Fuel Cell Store (www.fuelcellstore.com) manufactures, distributes, and sells a comprehensive range of fuel cell products including fuel cell stacks, systems, component parts and educational materials. The company is the leading international online marketplace for fuel cell related products and technologies, and offers consulting services, workshops and conferences for the fuel cell industry. With an international client base that includes premier research institutes and leading colleges and universities the company also hosts online distribution sites in Japan, Russia, Italy and Portugal.
“In addition to reducing costs by sharing Innergy Power’s San Diego office and distribution center, Fuel Cell Store will have access to the company’s Tijuana, Mexico manufacturing facility for increased assembly, product development and component production capabilities,” said Darrell Musick, president and CEO, Innergy Power Corporation and Fuel Cell Store. “By infusing Innergy’s enhanced manufacturing capabilities, strong retail experience, and existing accretive operational systems we are confident this transition will further expand Fuel Cell Store’s market penetration, while reducing costs and increasing revenues.”
Founded in 1989, Innergy Power Corporation is based in San Diego, California, with a manufacturing facility in Tijuana, Mexico. Innergy Power is the only North American manufacturer of both renewable energy solar modules and rechargeable batteries, and its solar photovoltaic (PV) product line addresses the burgeoning worldwide demand for solar energy products and off-grid power. For more information about Innergy Power, please visit www.innergypower.com.
About ECOtality, Inc.
ECOtality, Inc. (OTCBB: ETLY), headquartered in Scottsdale, Ariz., is a renewable energy company that acquires and commercially advances clean electric technologies and applications. ECOtality aggressively accelerates the development of companies and technologies that address today’s global energy challenges. Through strategic acquisitions, partnerships and technology innovations, ECOtality strives to advance the market applicability of clean electric technologies to become accepted alternatives to carbon-based fuel technologies. 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.