NEW YORK (AP) — Ecotality, which makes charging systems for electric vehicles, has filed for Chapter 11 bankruptcy protection.
Ecotality Inc. said it made the filing Monday in Arizona. The company had said in August that it might be forced into a sale or bankruptcy filing after disappointing sales and a suspension of payments from the federal government. It has also paid $855,000 in back wages and damages to resolve an investigation by the U.S. Department of Labor into allegations that the company broke labor laws.
The San Francisco company makes charging and power-storage systems for electric vehicles under the Blink and Minit Charger brands, including charging stations for the Nissan Leaf. It also does testing for government agencies, auto makers and utilities.
Ecotality has received more than $100 million in funding from the Department of Energy since 2009. The company has also received funding from the state of California and from Australia.
Ecotality's revenue nearly doubled to $54.7 million in 2012. The company took an annual loss of $9.6 million, narrower than its $22.5 million loss in 2011.
Shares of Ecotality fell 7 cents to 16 cents in afternoon trading. The stock closed at $1.46 on Aug. 9, the last business day before Ecotality said it might have to file for bankruptcy protection.