The parent company of this blog, ECOtality, is a renewable energy company that is building a portfolio of clean energy technologies. The most recent acquisition, and 3rd this year, is for Electric Transportation engineering or ETec, for $6.25 million. ETec manufactures fast, smart charging systems for electric vehicles.
Earlier this year ECOtality purchased The Fuel Store and Innergy Power. Along with their proprietary Hydrality technology ECOtality is working toward complete solutions for renewable energy powered vehicles.
ETec’s Super Charge system is already in use in 12 airports powering ground support vehicles. When asked about competition from the recently announced Project Better Place by Shai Agassi, with their planned network of charging stations and battery replacement, ECOtality CEO Jonathan Reid answered:
“Getting all the auto manufacturers to agree on one battery type, which has to be taken out of the vehicle and replaced every time you want to recharge in Agassi’s model, is sort of like herding cats,”
From it’s base in hydrogen and fuel cell technology ECOtotality is adding plugin and hybrid technologies through acquisitions to expand in the alternative fueled vehicle market and give the company additional revenue sources. These quotes from CEO Reid sum it up:
“We see that the immediate future is going to be electric vehicles and plug-in hybrid vehicles, prior to the widespread acceptance of hydrogen,”
“…company’s business strategy, is really to become the first electro-centric, green rollup company. To add a series of tightly meshed companies that are accreted to each other in terms of technology and obviously earnings positive,” he told Cleantech.com
Quote(s) source: cleantech/media.com
ECOtality is a public company with stock traded on the OTC BB, symbol ETLY. I wonder if I can get some stock options as a contributor to this blog?
