CarCharging, a nationwide provider of electric vehicle (EV) charging services, reports that it has raised $10 million with institutional investors, which the company intends to use to strengthen its balance sheet and to provide additional operating capital for expansion.

“We always appreciate the support of our shareholders, both existing and new, and are thrilled to have completed this capital raise,” Michael D. Farkas, CEO of CarCharging, stated in the news release. “This additional equity will assist CarCharging in continuing its position as the leader in the EV charging industry, to pursue new opportunities, and to enhance our long-term growth.”

The company’s expansion plans include its active pursuit of a potential uplisting to a national stock exchange, launching a solution designed to streamline the charging and payment process for EV drivers, and securing patents for innovative concepts for EV charging solutions.

CarCharging is headquartered in Miami Beach, Fla., with offices in San Francisco, New York, Phoenix and Barcelona, Spain. In 2013 the company acquired four EV charging service providers, including Blink® and the Blink® Network, the software that operates, monitors and tracks the Blink stations and all of its charging data. Through this acquisition, CarCharging owns, operates or manages more than 13,950 charging points in 35 states and three countries.

The company’s comprehensive turnkey program is applicable to both commercial and residential property owners for EV charging services.

For more information, visit www.carcharging.com

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