LOTE Announces Participation in Innovative Pilot with Los Angeles Department of Water and Power
05 April 2017 - 3:00PM
InvestorsHub NewsWire
TOLLAND,
CT -- April 4, 2017 -- InvestorsHub NewsWire -- Lot 78, Inc
(OTCPink:
LOTE) has announced that it is participating with Los Angeles
Water and Power (LAWPD) in an innovative pilot program that uses
light poles and the electricity from them to install electric
vehicle (EV) charging stations.
Our
Juice Bar EV charging station, the “Mini Bar” model, is one of the
first to be installed as part of this program to expand the city
wide EV infrastructure. We have developed a bracket mounting system
to install Mini Bar charging stations onto the in-place light
poles.
According
to LADWP officials, “The curbside charger, located in front of
1773 East Century Blvd., is likely the first such power pole public
charger in the country.” Recently stated in a press release by the
LAWPD on December 13, 2016. There are many benefits to mounting
charging stations on light poles, which includes the ease of
installation, access to available power curbside and significant
installation cost savings. Installation for our Juice Bar
station in this manner can take less than a day. “This
innovative program which leverages Juice Bar’s Mini Bar electric
vehicle charging station and our proprietary mounting system
provides a quick and super cost effective way to add to any City’s
EV infrastructure and is a true game changer for the future of
electric urban mobility ,” said LOTE CEO David Schmid.
ABOUT
LOT 78, INC. The
Company was incorporated in the State of Nevada on June 27, 2008.
On March 14, 2011, the Company filed a Certificate of Amendment
with the Secretary of State of Nevada changing the name of the
Company to “Bold Energy, Inc.” On November 12, 2012, the
Company, then under the name Bold Energy, Inc., entered into a
Share Exchange Agreement with Anio Limited a limited liability
company established under the laws of the United Kingdom (“Anio
Ltd.”), which conducts its primary line of business under the name
Lot78, Inc., the shareholders of Anio Ltd., and the controlling
stockholders of the Company. The company changed names to Lot78,
Inc. on January 31, 2013. On July 15, 2016, the
Company entered into a Letter of Intent to merge with Compound
Holdings, LLC, a Connecticut limited liability company.
Subsequently, on July 18, 2016, the Company and Compound Holdings
LLC entered into a definitive Agreement and Plan of Merger.
Pursuant to the plan of merger, upon closing, the Company intends
to change its name to Compound Holdings, Inc.
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