ARLINGTON, VA -- (Marketwire) -- 12/02/11 -- 350Green, a developer of electric vehicle (EV) charging station networks and Simon Property Group (NYSE: SPG), the country's largest owner, developer and manager of high quality retail real estate, officially launched 350Green's public EV charging network in Baltimore and the DC metro area with the unveiling of the first four EV chargers at The Fashion Centre at Pentagon City, one of the most iconic shopping venues in the U.S. The EV charging stations will be located on Level P1 of the shopping center's parking garage, near Nordstrom.
The initial network will include a total of 47 Level 2 and Level 3 Fast Chargers, all manufactured in the U.S., and all available to the public at numerous Simon Property Group and Walgreens (NYSE: WAG) (NASDAQ: WAG) locations throughout Washington, D.C., Virginia and Maryland.
Installation of the charging stations in the network is scheduled to be complete by the beginning of 2012. The quickest of the self-serve charging stations, the Level 3, can charge an EV in as little as 25 minutes, giving drivers up to 100 miles range which is more than enough to get them to their next charging location.
The charging stations will be placed at retail locations like The Fashion Centre at Pentagon City and regional Walgreens, which are not only conveniently located, but also give drivers the chance to shop, dine, or watch a movie while their EV is charging in the parking area.
'We're solving the classic chicken and egg problem,' said Mariana Gerzanych, co-founder and CEO of 350Green. 'By creating this network a little ahead of the curve, we're creating confidence among EV buyers that they will have access to charging stations. We are not only helping to accelerate the adoption of electric vehicles in the DC metro area, but we're also helping create jobs across the country with charging station manufacturing and installation.'
350Green's regional network comes as more electric vehicles are hitting the road, and as more car manufacturers are offering plug-in electric models; Ford recently announced dealers are now taking orders for the 2012 Ford Focus Electric, BMW introduced its first EV and Honda's Fit EV is expected in 2012.
'We believe that a well-developed EV charging infrastructure is going to be key to the success of EVs,' said George Caraghiaur, Simon Property Group's Senior Vice President of Energy and Procurement. 'Meeting the needs of the first-to-market drivers of electric vehicles in the communities we serve is yet another example of our commitment to sustainability.'
The network in the DC area is only one of several under way by 350Green, which is under contract for more than 1,100 chargers in cities across the country before the end of 2011, and continues to build partnerships that can lead to a broader network. In just the past three months, the company has placed the single largest purchase order for Level 3 Fast Chargers (made in Norcross, Ga. by Efacec), the single largest order for Level 2 charges (1,400 from SemaConnect, based in Annapolis, Md.) and partnered with Coulomb Technologies, based in Campbell, Calif. for an additional 400 chargers. In addition to creating jobs related to the manufacture of these units, 350Green is creating demand for electrical contractors and jobs related to the units' installation.
350Green is a project developer that designs, builds and operates a scalable, nationwide network of electric vehicle (EV) charging stations. The company partners with retailers, commercial property managers and developers, and municipalities to locate charging stations at places near where EV drivers live and work. Current projects are underway in Illinois, Pennsylvania, California, and New York. The company has signed partnerships with Walgreens and Simon Property Group, among others. More information is available at www.350green.com.
About The Fashion Centre at Pentagon City
The Fashion Centre at Pentagon City is a world-class shopping experience located just moments from the Nation's Capital in Arlington, Virginia and features more than 170 fascinating stores and restaurants, including Nordstrom and Macy's. The Fashion Centre at Pentagon City is owned and operated by Simon Property Group, Inc. For more information, visit www.simon.com or call (703) 415-2401.
About Simon Property Group
Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S. The Company currently owns or has an interest in 392 retail real estate properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia. Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. The Company's common stock is publicly traded on the NYSE under the symbol SPG. For further information, visit the Simon Property Group website at www.simon.com.