Greentech Lead America: ABB, a power and automation
technology group, will make a follow-on investment in ECOtality of $5 million
in the form of convertible debt.
This investment follows the $14 million venture capital
investment ABB made in the company in 2011.
ABB has also signed a $5 million non-exclusive licensing
agreement with ECOtality,
a provider of clean electric transportation and storage technologies, to
utilize ECOtality’s Blink Network for ABB’s electric vehicle charging systems.
The Blink Network operating platform enables EV charging
providers to integrate with utilities and other third parties to facilitate
data exchange, utility services, energy management, media communications, and
membership and payment programs. The Blink Network provides EV drivers the
freedom to travel as they choose and conveniently charge at Blink enabled
commercial locations along the way.
ABB’s
EV infrastructure portfolio was strengthened last year following the
acquisition of Netherlands-based Epyon, an early leader in electric vehicle charging
infrastructure solutions, including DC fast charging systems and associated
back-office systems which can be connected to various Business-to-Consumer
service platforms such as the Blink Network.
Through innovation, acquisitions, and strategic partnerships,
ECOtality accelerates the market applicability of advanced electric
technologies to replace carbon-based fuels.
ABB provides power and automation technologies that
enable utility and industry customers to improve their performance while lowering
environmental impact. The ABB Group of companies operates in around 100
countries and employs about 135,000 people.
editor@telecomlead.com