Welcome to our dedicated page for Blink Charging Co. news (Ticker: BLNK), a resource for investors and traders seeking the latest updates and insights on Blink Charging Co. stock.
Blink Charging Co. (NASDAQ: BLNK, BLNKW) is a prominent leader in the public electric vehicle (EV) charging sector in the United States. Headquartered in Florida, with additional offices in Arizona and California, Blink Charging is dedicated to accelerating the adoption of public EV charging. The company provides a range of EV charging equipment and connectivity solutions through its cloud-based Blink Network, which operates, manages, and tracks Blink EV charging stations and all associated data.
Blink Charging caters to a wide array of property partners, including multifamily residential complexes, commercial properties, airports, colleges, municipalities, parking garages, shopping malls, retail parking areas, schools, and workplaces. This diverse presence ensures that EV drivers can easily recharge their vehicles at a variety of convenient locations.
The company’s core business revolves around the sale and distribution of EV charging equipment and the revenues generated from customers and property partners who utilize equipment connected to its network. Blink Charging not only sells and installs charging stations but also offers a comprehensive suite of services to maintain and optimize their operation.
One of Blink Charging’s recent achievements includes the initial steps to provide twelve chargers at a high-volume sorting center in Rugby, UK. This marks a significant step in expanding their footprint beyond the United States. Additionally, the company has introduced Blink Care, an optional maintenance program designed to minimize charger downtime and enhance the overall charging experience for users.
Blink Charging’s strategic vision is further evidenced by its selection as one of the EV charging providers designated to support a more sustainable future by expanding charging infrastructure. Financially, Blink Charging maintains a robust position, with substantial proceeds from recent initiatives aimed at bolstering its market presence.
Blink Charging UK has secured a three-year contract with Kings College NHS Trust to install and manage 41 EV chargers at Princess Royal University Hospital. Starting May 2025, the project includes installing 35 ground-floor and 6 first-floor vehicle-to-grid chargers, along with 21 contactless payment terminals. The installation is part of Kings' Green Plan to achieve Net Zero healthcare services. Blink UK won the contract against 20 competitors through the Crown Commercial Framework, marking its 14th NHS Trust contract and positioning it as one of the UK's leading NHS EV charging providers.
Blink Charging UK has entered the next phase of collaboration with Norfolk County Council to expand EV charging infrastructure in Norwich. The project will add 22 new charging stations across 12 locations by February, bringing the total to 46 stations in the area. Currently, 24 Blink EV chargers have been installed, with 19 operational stations contributing to 3,086 kWh of power usage, equivalent to 10,801 miles and 2,607,372 Kg of CO2 savings.
The expansion includes installation of 22kW fast chargers and 50-100kW rapid chargers in residential areas, particularly targeting residents without private driveways or off-street parking. The initiative supports the Council's broader plan to increase EV adoption and reduce emissions in the region.
Blink Charging (NASDAQ: BLNK) has secured a significant agreement with Power Design to provide 429 EV charging stations with 723 total plugs across multiple projects nationwide. The installations will primarily serve luxury multifamily apartments and condominiums. Power Design, one of the nation's largest design-build multi-trade contractors, will initially own the charging stations, with ownership transferring to property owners/managers upon installation.
This agreement builds upon a decade-long collaboration between the two companies, with Power Design establishing itself as a leading EV charger installer over the past five years. The partnership aims to enhance EV charging accessibility in residential communities, addressing the growing demand for convenient charging solutions where people live.
Blink Charging (NASDAQ: BLNK) has partnered with Minor Hotels Europe & Americas to install EV charging stations at four NH Hotel locations in Mexico: NH Puebla Centro Histórico, NH Puebla FINSA, NH Querétaro, and NH San Luis Potosí. The initiative, featuring Blink's IQ200 chargers with RFID and app payment options, supports NH Hotels' 'UP for Planet' sustainability program. Under the 'Blink Owned' model, Blink will manage the complete lifecycle of charging stations, from installation to maintenance, enhancing sustainable service offerings while providing convenient charging solutions for hotel guests and visitors.
Blink Charging (NASDAQ: BLNK) has completed the installation of 53 EV charging stations across 12 Tower Management locations in New Jersey. The initiative, supported by the NJ DEP's 'It Pay$ to Plug In' program and additional Volkswagen funding, features Blink's Series 8 Level 2 EV Charging Stations with cloud-based network management. Tower Management aims to enhance sustainable amenities for residents while addressing growing EV infrastructure needs. Blink will manage the entire lifecycle of the charging stations, including installation, operation, and maintenance.
Blink Charging (NASDAQ: BLNK) has announced a strategic roaming agreement with ChargeHub, North America's leading EV roaming hub. The collaboration enables Blink's public EV chargers to be visible and accessible to ChargeHub's network of e-mobility service providers and charge point operators. ChargeHub's Passport app, serving over a million users, can now activate Blink chargers, offering drivers a streamlined payment process through a single account. ChargeHub reports over 150 active roaming connections covering more than two-thirds of networked chargers in the U.S. and Canada. As the third-largest EV charging network in the U.S., Blink's integration aims to enhance charging accessibility and user experience across North America.
Blink Charging reported Q3 2024 total revenues of $25.2 million, down 41.9% from Q3 2023. Service revenues increased 30% to $8.8 million, while product revenues decreased 61.6% to $13.4 million. The company achieved an industry-leading gross margin of 36% in Q3 2024. Operating expenses decreased 21% to $97.3 million compared to Q3 2023. The company has revised its full-year 2024 revenue target to between $125-135 million and expects to achieve positive adjusted EBITDA in H2 2025. Blink surpassed 105,000 chargers contracted, deployed or sold globally since inception.
Blink Charging (NASDAQ: BLNK) has announced the establishment of a £100 million Special Purpose Vehicle (SPV) to enhance EV charging infrastructure in the UK. The company has partnered with Axxeltrova Capital, a private equity firm specializing in digital infrastructure and renewable energy, as its first funding partner. The SPV will target projects eligible for UK's Local Electric Vehicle Infrastructure (LEVI) funding and aims to attract additional investors to support the growth of EV charging networks. This initiative reflects Blink's commitment to expanding accessible charging infrastructure while offering investors an opportunity to participate in the EV infrastructure market.
Blink Charging (NASDAQ: BLNK) has secured a $2 million grant from the Illinois Environmental Protection Agency to own and operate EV chargers across Illinois. The project, part of the state's 'Rebuild Illinois' capital program, will establish 15 new charging stations across five locations, including 10 180kW DC fast chargers and five Dual Port Level 2 stations. Blink will provide a 30% cost share and handle site assessment, installation, maintenance, and training services.
Envoy Technologies, a Blink Charging Co. company, has partnered with UNLMTD Real Estate Group to launch an electric car-sharing program at FIAT House, a luxury residential development in Fort Lee, New Jersey. The program features a fleet of FIAT 500e electric vehicles exclusively available for residents to book hourly through the Envoy Mobility app. Located near the George Washington Bridge, FIAT House offers multiple transportation options including the new EV sharing service, which aims to eliminate the need for personal vehicle ownership. The program supports property owners through enhanced tenant retention while promoting sustainable transportation. Envoy currently operates in 23 states and plans nationwide expansion.
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