Ecotality shares continued to uptrend today. The upward move began last week after the company announced its potential fourth acquisition for the year. So far today share prices have reached as high as $0.31 and are currently trading at $0.29.
The company to be acquired, Minit-Charger, is currently a subsidiary of Edison International, a NYSE-listed company. The acquisition of Mini-Charger will enable the company to increase its presence in the battery and fast-charge markets in addition to developing further applications for plug-in hybrid and electric vehicle markets as well as infrastructures.
Minit-Charger’s premiere product is a rapid battery charging system that provides a more environmentally-friendly, energy and cost efficient solution to recharge forklifts and other mobile material handling equipment. Minit-Charger is a clean system that emits no harmful emissions as it eliminates the need for petroleum-based fuels commonly used in material handling vehicles. Minit-Charger’s 10 patents are ideal for alternative fuel transportation applications, such as plug-in hybrid and electric vehicle markets and infrastructures.
The Minit-Charger system has the ability to charge batteries four to six times faster than conventional chargers while maintaining a battery life that is equal or longer. Unlike traditional charging methods that require changing batteries after they are depleted, the Minit-Charger can recharge batteries at the most convenient times, completely eliminating the need for vehicle operators to remove them from the truck during breaks and shift changes, resulting in enhanced worker safety, productivity and energy and battery cost savings.
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