Alliance Advisors for ECOtality
SAN FRANCISCO - January 18, 2011 - ECOtality, Inc. (NASDAQ:ECTY), a leader in clean electric transportation and storage technologies, announced today that Enrique Santacana and Andrew Tang, both from ABB, a leader in power and automation technologies, have joined ECOtality's Board of Directors. Enrique Santacana is the Region Manager of North America. Andrew Tang is the Managing Director of ABB Technology Ventures. The two newly appointed board members join as part of an investment and manufacturing agreement, announced on January 11th, 2011.
"We are pleased to announce the appointment of Enrique Santacana and Andrew Tang to our Board of Directors," said Jonathan Read, CEO of ECOtality. "Both men bring many years of experience and professional expertise that will enrich ECOtality's Board and enhance our global objectives. We look forward to working with both of our new Board members, as well as ABB, to create smart electric vehicle charging solutions, expand intelligent electric vehicle infrastructure, and encourage the mass consumer adoption of electric vehicles."
In his more than three decades with ABB, Enrique Santacana has held a variety of executive management positions, and is currently the Region Manager of North America. He is a licensed professional engineer in North Carolina, a member of the Institute of Electrical and Electronic Engineers and the National Society of Professional Engineers and brings extensive knowledge of the electrical industry. Mr. Santacana sits on the Board of Governors of the National Electrical Manufacturers Association (NEMA), where he is a member of the Executive Committee, and is also a member of the NEMA Business Roundtable and acts as its Vice Chair of their Sustainable Growth Initiative. He has also served on the U.S. Department of Energy's Electricity Advisory Committee (EAC) where he helped the Department of Energy meet requirements of the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007.
Andrew Tang is the Managing Director of ABB Technology Ventures, and brings more than 10 years of venture capital and investment banking experience to ABB. Prior to his role at ABB, Mr. Tang was a Managing Director at DFJ DragonFund, a partnership with Draper Fischer Jurveston focused on investing in high-growth, China-based technology companies. He was also a partner at Infineon Ventures, and previously worked at Infineon Technologies and Credit Suisse First Boston. Mr. Tang holds a U.S. patent, and has been published in numerous technical journals in the advanced materials field.
ECOtality is project manager of The EV Project and will oversee the installation of 15,000 commercial and residential charging stations in 16 cities and major metropolitan areas in six states and the District of Columbia. The project will provide an EV infrastructure to support the deployment of 8,300 electric vehicles. The project is funded by the U.S. Department of Energy through a federal stimulus grant of $114.8 million, made possible by the American Recovery and Reinvestment Act (ARRA). The grants are matched by private investment, bringing the total value of the project to approximately $230 million.