ECOtality Completes Minit-Charger Acquisition

SCOTTSDALE, Ariz.—ECOtality Inc., a company that acquires clean electric technologies and applications, announced that it has completed its acquisition of Minit-Charger, a subsidiary of Edison International.

Minit-Charger is a fast battery charging system that enables a more energy- and cost-efficient, environmentally friendly way to recharge lift trucks and other mobile material handling equipment, according to ECOtality.

Effective Dec. 7, 2007, Minit-Charger will operate as part of ECOtality’s subsidiary, Electric Transportation Engineering Corp. (eTec). The subsidiary specializes in alternative-fuel, hybrid and electric vehicles and infrastructures. The Minit-Charger line of fast chargers for lift trucks and other material handling systems will be combined with eTec’s line of fast chargers for air ground-support equipment. Minit-Charger’s business operations will move to eTec headquarters in Phoenix, Ariz., by the end of the first quarter of 2008.

“The acquisition of Minit-Charger symbolizes ECOtality’s commitment to acquire and further commercialize clean electric technologies with immediate practical applications that reduce our dependence upon fossil fuels,” said Jonathan Read, president and CEO of ECOtality. “With the completion of our fourth acquisition of the year, we have created a diverse portfolio of revenue-generating clean technology companies that are positioned for immediate growth and increased profitability.”

According to ECOtality, the Minit-Charger system emits no harmful emissions and is well suited for plug-in hybrid and electric vehicle markets and infrastructures. The Minit-Charger system recharges batteries four- to six- times faster than conventional chargers, with battery life that is equal to or longer than those using traditional charging methods, according to the company.

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