ECOtality, Inc. Announces Q1 Revenue, Provides
Shareholder Update
l $2.7 Million Revenue, a 9.3% Increase from Q1 2009
l Approved to Trade on NASDAQ under Ticker: ECTY
l Shareholder Update Conference Call, May 18th at 4:30 (EDT)
l Subsidiary eTec Renamed ECOtality North America
May 17, 2010 08:03 AM Eastern Daylight Time
TEMPE, Ariz.--(EON: Enhanced Online News)--ECOtality, Inc. (OTCBB: ETLE), a leader in clean electric
transportation and storage technologies, has announced increased revenue of $2.7 million for the First Quarter 2010.
The Company will also host its regular shareholder update conference call on Tuesday, May 18th at 4:30 PM EDT,
where it will review its financial results and provide a financial and operational update for the period ended March
31, 2010.
"This first quarter of 2010 has been notable for ECOtality, with sustained progress and significant recognition for the
company,” said Jonathan Read, President and CEO, ECOtality. “In addition to recording increased quarterly
revenue, the Company gained admittance to the NASDAQ Capital Market, gained access to a $300 million
financing facility, and began expansion into China, Australia and Southeast Asia with the formation of ECOtality
China and ECOtality Australia. The increase in our quarterly revenue is a leading indicator of the ramp up of our
work for the U.S. Department of Energy contract, and we expect these revenues to increase significantly as we
continue to execute upon our contractual obligations. We are on schedule to establish smart electric vehicle charging
station networks throughout the United States by the end of the year, further solidifying ECOtality’s position as the
leading international EV charging provider.”
Key Operational and Financial Highlights
l ECOtality 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 M