Blink Charging Announces Upgrade Promotional Program to Improve Host-Owned EV Charging Infrastructure
22 August 2020 - 2:30AM
Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink” or the
“Company”), a leading owner and operator of electric vehicle (EV)
charging equipment and services, has announced a program for
existing Blink EV charging station host locations to upgrade their
first-generation equipment to Blink’s new, fast level 2 charging
station, the IQ 200.
Blink’s business encompasses several different
operational models, including one model in which first-generation
Blink units owned by independent third parties are in the
marketplace. These legacy units were designed and deployed by a
company acquired by Blink in 2015, therefore, they may not be owned
and operated by Blink. With this promotional program, Blink is
offering owners of legacy first-generation equipment the
opportunity to repair and upgrade their units to the new
state-of-the-art IQ 200 Blink equipment.
During the past year, Blink has upgraded 884
charging stations to the new 80-amp IQ 200 as part of a strategic
infrastructure improvement program, which is expanding and
improving the Blink Network of equipment. As part of this newly
announced promotional program, Blink will provide upgraded
equipment to its existing hosts when they enter into a new
multi-year revenue share agreement with Blink. Although the
replacement and repair of equipment that is wholly owned by host
partners is solely the responsibility of the hosts, Blink is
providing this advantageous program to incentivize them to make
Blink’s newest charging units available at their locations.
“This offering is truly a win-win for everyone.
We are committed to having only the best equipment in the
marketplace. We look forward to continuing our work with our host
equipment owners to repair and replace the aging equipment with the
new IQ 200, Blink’s industry-leading 80-amp charging station. Our
obsolescence-proof charger offers 19.2kW of output, making the
charging experience convenient and user-friendly,” said Blink’s
Executive Chairman and CEO, Michael D. Farkas, about Blink’s
upgrade promotional program.
The program is part of Blink’s continued focus
on operational and infrastructure improvements as well as creating
an improved EV driver experience. Additionally, with a revenue
sharing structure in place, Blink becomes a partner with an
owner/operator rather than solely providing hardware. Blink’s IQ
200 units, are the fastest level 2 AC charging stations available
on the market, have a maximum output of 80 amps, and deliver up to
65 miles of charge in an hour.
“For EV drivers, our new equipment provides a
more reliable and improved experience. For our hosts, the IQ 200
represents a more manageable asset with improved charging
technology, making the units a better option for the long-term” Mr.
Farkas concluded.
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About Blink Charging
Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a
leader in electric vehicle (EV) charging equipment and has deployed
over 23,000 charging stations, many of which are networked EV
charging stations, enabling EV drivers to easily charge at any of
the Company’s charging locations worldwide. Blink Charging’s
principal line of products and services include its Blink EV
charging network (“Blink Network”), EV charging equipment, and EV
charging services. The Blink Network uses proprietary, cloud-based
software that operates, maintains, and tracks the EV charging
stations connected to the network and the associated charging data.
With global EV purchases forecasted to rise to 10 million vehicles
by 2025 from approximately 2 million in 2019, the Company has
established key strategic partnerships for rolling out adoption
across numerous location types, including parking facilities,
multifamily residences and condos, workplace locations, health
care/medical facilities, schools and universities, airports, auto
dealers, hotels, mixed-use municipal locations, parks and
recreation areas, religious institutions, restaurants, retailers,
stadiums, supermarkets, and transportation hubs. For more
information, please visit https://www.blinkcharging.com/.
Forward-Looking Statements
This press release contains forward-looking
statements as defined within Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements, and terms such
as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or
other comparable terms, involve risks and uncertainties because
they relate to events and depend on circumstances that will occur
in the future. Those statements include statements regarding the
intent, belief or current expectations of Blink Charging and
members of its management, as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, including those
described in Blink Charging’s periodic reports filed with the SEC,
and that actual results may differ materially from those
contemplated by such forward-looking statements. Except as required
by federal securities law, Blink Charging undertakes no obligation
to update or revise forward-looking statements to reflect changed
conditions.
Blink Media
Contact PR@BlinkCharging.com
Blink Investor Relations
Contact IR@BlinkCharging.com
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