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Ecotality Finds 3 Million Bid to Open Bankruptcy Auction

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Ecotality Inc., the maker of Blink electric-vehicle-charging stations, has received a $3 million purchase offer to kick off the upcoming bankruptcy auction for its business, Dow Jones Newswires reported yesterday. In court papers, officials at Ecotality, which obtained a $100 million grant from the U.S. Department of Energy, said that interested buyers will have to beat the initial offer from a company called Tellus Power Inc. if they want to take ownership of the San Francisco company. The company's auction is scheduled for tomorrow, though some of the company's creditors have asked Bankruptcy Judge Randolph Haines to push back the date. A delay could give challengers more time to evaluate Tellus Power's bid, which was unveiled on Saturday, attorneys for the company's unsecured creditors' committee said in court papers. The winning bidder's offer is set to be reviewed by Judge Haines at an Oct. 9 hearing.

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