ECOtality, Inc. (ECOtality), a US-based provider of clean electric transportation and storage technologies, has reported revenues of $2.5 million for the first quarter of 2009, compared with the revenues of $2.8 million in the year-ago quarter. It has also reported a net loss of $1 million, or $0.01 loss per share, for the first quarter of 2009, compared with a net loss of $2 million, or $0.02 loss per share, in the year-ago quarter.

ECOtality’s subsidiaries, which include, Electric Transportation Engineering Corporation (eTec), Innergy Power Corporation, and Fuel Cell Store, have combined positive operating income for the first quarter of 2009.

“The first quarter results reflect a strong measure of the financial accomplishments the company has made over the past year,” said Jonathan Read, president and chief executive officer, ECOtality. “Despite the current economic climate, ECOtality’s revenues and margins have remained relatively constant while substantially reducing operating expenses to achieve significant improvements in operating and net income. As we forecast our business to grow in parallel with the commercial introduction of electric vehicles, we have streamlined operations and established a stable revenue base that positions the company well for rapid and sustainable growth to meet the market demand for electric vehicle infrastructure.”

2009 Key Operational Highlights:

ECOtality launched the EV Micro-Climate program, an integrated turn-key program that promotes sensible policies, intelligent deployment of charge infrastructure, and strong public awareness to foster the successful consumer adoption of grid-connected electric vehicles. Currently, the ECOtality EV Micro-Climate program has been initiated in Maricopa County (AZ), Pima County (AZ) and Vancouver (BC).

ECOtality announced a partnership with Nissan North America and Pima Association of Governments to facilitate the establishment of an EV Micro-Climate throughout Arizona’s Tucson region to support the anticipated 2010 launch of Nissan’s zero-emission electric vehicle. ECOtality has since announced a similar agreement with Nissan and the Maricopa Association of Governments to facilitate the establishment of EV charge infrastructure in the Phoenix region and has also announced plans to create a fast-charging corridor along I-10 to connect the two cities for EV users.

ECOtality’s eTec launched the new Minit-Charger FC line of fast-charge systems for material handling equipment applications. Utilizing Minit-Charger’s patented advanced algorithm technology, the Minit-Charger FC system is 50 to 65% smaller and 50 to 70% lighter than other fast-charge systems that provide an output of up to 320 amps.

ECOtality’s eTec completed the Minit-Charger installation at Westchester County Airport to power the Airport’s new fleet of all electric ground support vehicles. The installation will reduce over 330 tons of criteria air pollutants each year, and will eliminate the annual use of over 120,000 gallons of petroleum based fuels that results in annual savings of about $190,000 (net the cost of electricity).

2009 First Quarter Results:

Gross profit for the first quarter 2009 was $1.1 million compared to $1.2 million in the previous year. Total operating expenses for the first quarter were $1.5 million, a 43% decrease compared to total operating expenses of $2.6 million during the same period in 2008. Operating loss for the quarter ended March 31, 2009 was $0.4 million, an improvement of 70% when compared to the operating loss of $1.4 million for the same period in 2008.

ECOtality’s subsidiaries had a combined positive operating income (before corporate overhead allocation) of $142,788 in the first quarter of 2009, a 189% increase from the combined segment operating loss of $160,318 in the same period for 2008.

“ECOtality is actively applying and bidding for about $1.5 billion in a combination of Federal and state funding opportunities and competitive bid contracts with major automotive OEMs and utilities,” continued Read. “While we are pleased by the financial improvements of our transition from a development-stage to revenue-generating company, we remain focused on achieving overall profitability and enhancing our position as a leading infrastructure provider for on-road vehicles. With our strong fast-charging technology, extensive knowledge of advanced vehicles and battery systems, and leading EV infrastructure experience, we believe ECOtality is well positioned to be awarded many of these contracts – each of which would change the financial nature of the company.”