CHICAGO--May 6, 2013: JNS Holdings Corporation (OTC Markets Group: JNSH) today announced that its subsidiary JNS Power & Control Systems, Inc. ("JNS Power") has received notice from the City of Chicago that the City accepts the terms and conditions set forth in its April 17, 2013 Asset Purchase Agreement with 350Green, LLC ("350Green"). Under the terms of the Asset Purchase Agreement, 350Green, an owner and operator of electric vehicle ("EV") charging stations throughout the country, must deliver to JNS Power its chargers and license agreements with property owners, all of which are located in the Chicagoland area. The Asset Purchase Agreement gives JNS the largest EV charging system in the third largest market in America.
“JNS expects to satisfy all of the conditions of the U.S. Department of Energy First Amended Grant with the City by the December 31, 2013 deadline”
"We are thrilled that the City of Chicago has accepted the terms of our Asset Purchase Agreement with 350Green so quickly. We appreciate their confidence in our firm and we look forward to working with the City and the property owners where the chargers are installed. We believe we can provide efficient EV charging station service to the whole Chicago metropolitan area," said Brian Howe, Chief Executive Officer. "JNS expects to satisfy all of the conditions of the U.S. Department of Energy First Amended Grant with the City by the December 31, 2013 deadline," Howe said.