While Tesla, the manufacturer of the electric Roadster and the upcoming Model S has announced its plans to file an initial public offering, electric transportation solutions provider ECOtality announced today it filed an application to list its common stock on the NASDAQ Capital Market.
“We believe the move to the NASDAQ Capital Market is the next logical step in the Company’s future growth and will allow our Company to gain exposure and be recognized by a broader segment of the investment community,” ECOtality CEO Jonathan Read said.
ECOtality is fighting, alongside Japanese carmaker Nissan and several other EV-related companies, to implement a proper charging network in the US, while also providing the solutions (storage, payment options) needed by customers.
At the end of January, the company announced the internet-based software for the advanced charging of EVs, helping drivers chose the time of charge or know when charging is complete.
“With rapidly increasing operations within the United States and increased activity in the international markets, management believes now is the time to move to a larger exchange. As we move forward with the deployment of EV infrastructure on a global scale, a NASDAQ audience will allow us to attract additional investors and improve shareholder value.”
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