Ecotality plans to acquire Minit-Charger, a subsidiary of publicly traded Edison International, for $3 million in cash and stock, both companies announced Thursday.
Minit-Charger makes chargers for rechargeable lithium-ion and lead-acid batteries that can be used in electric light construction vehicles like forklifts. The Irvine, Calif.-based company includes Home Depot, Costco Wholesale, and Toyota Motor among its customers.
"It's the charging system, very complex, that allows batteries to be charged to maximum charge on minimum time. It has a complex electrical system that adjusts once every 300 times per minute for variances," Ecotality CEO Jonathan Read … Read more