Michigan-Based ParkingCarma and partners
awarded $5.5 Million contract for innovative truck parking solution in california

Copyright 2008 PR Newswire. All Rights Reserved
July 24, 2008

TROY, Mich., July 24 /PRNewswire/ -- The West Coast's Interstate 5 and the East Coast's Interstate 95, two of the nation's busiest interstates, will receive more than $5 million each in federal support for innovative strategies to reduce the frustration of truckers looking for parking on congested routes. ParkingCarma, a Flint-based company, developed the Smart Parking system that will be implemented on California's congested Interstate 5, which connects the country's second largest border crossing to the bay ports of Los Angeles and Long Beach. ParkingCarma's information network makes driving safer, improves fuel efficiency and air quality by identifying and reserving nearby available truck parking.

I-5 is one of two interstates selected under the Corridors of the Future Program, part of the U.S. Department of Transportation's national congestion initiative. California Department of Transportation (Caltrans) was awarded the I-5 contract for its innovative uses of intelligent transportation systems (ITS) technology to provide truckers with real-time information on available parking. As part of the program, Caltrans, in partnership with ParkingCarma, NAVTEQ, and /TSRC, will monitor parking availability and transmit the updates to truckers. As a result of the contract, ParkingCarma plans to add Michigan employees to support the three-year California contract.

"We are excited to use our unique parking information network to be part of this public-private partnership designed to improve road safety and goods movement efficiency, while reducing emissions of Class 8 trucks," said Rick Warner, CEO, ParkingCarma. "Through our Smart Parking information network, truckers will be able to access data about available parking spaces - via cell phone, the Internet, or an onboard computer."

Together with NAVTEQ's customized truck parking mapping and routing services, ParkingCarma can identify the nearest available truck parking spot and allow reservation, improve driving time, and alleviate illegal parking and sleep-deprived driving.

The I-5 carries between 15,000 and 40,000 trucks a day, and has grown nearly 17 percent over the last ten years. According to research, 153 million pounds of CO2 emissions per city could be eliminated per year if just 2 percent of city drivers used ParkingCarma's information network to find a parking spot. "We are looking to show that there will be similar energy efficiency gains for truckers," said Warner.

ParkingCarma received $250,000 in seed funding from both Automation Alley and Ann Arbor SPARK, who have supported ParkingCarma's transition to Michigan and its continued growth. Additionally, ParkingCarma received a tax credit from the State of Michigan worth nearly $1 million over seven years and $500,000 in seed funding from the Genesee Regional Chamber of Commerce using funds from the Mott Foundation.

"The reputation of Southeast Michigan as a technology leader was certainly an important factor when we made the decision to house our national service center in Flint," Warner stated. "Automation Alley and SPARK have both been invaluable resources as we've grown, and with their continued support we look forward to serving the nation and world from our headquarters in Michigan."

About The Genesee Regional Chamber of Commerce

The Genesee Regional Chamber of Commerce is the voice of business and community advocacy in Genesee County. The Regional Chamber is over 100 years old, was established before the Michigan Chamber of Commerce and is a founding member of the United States Chamber of Commerce.
Two words describe the Regional Chamber: collaboration and partnership. It is our goal to work with government, business, education and nonprofit organizations to support the growth and development of the community economically, culturally and socially. Log on to www.thegrcc.org for more information.

About Ann Arbor SPARK

Representing all communities in Washtenaw County, Michigan, Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the , , the Herbert and Grace Dow Foundation, Washtenaw County, the City of Ann Arbor, the Michigan Economic Development Corporation and the Ann Arbor/Ypsilanti SmartZone LDFA. For more information, please call (734) 761-9317 or visit www.annarborspark.org.

About Automation Alley

Automation Alley is a Michigan's technology business association that drives the growth and image of Southeast Michigan's economy through a collaborative culture that focuses on workforce and business development initiatives. Since its founding in 1999, Automation Alley has expanded to include more than 900 businesses, educational institutions and government entities, covering an eight county area and the City of Detroit. Automation Alley promotes regional prosperity through business attraction services, exporting assistance, workforce development and technology acceleration. For more information visit www.automationalley.com.

About ParkingCarma

ParkingCarma(TM) Smart Parking is a hi-tech solution for parking in the nation's most crowded cities that brings together consumers looking for parking spots with parking structure owners and managers who have available parking spaces. Rather than circling blocks looking for an open spot, it provides information and access to consumers about available parking spaces via cell phones, the Internet, and onboard automotive computers. Not only does ParkingCarma increase parking convenience and availability, it helps communities and the environment by reducing traffic congestion, emissions, and the need to build new parking structures. ParkingCarma's philosophy is sustainable growth through friendly technology. Visit at www.parkingcarma.com.