Blink Charging Announces Contract with United States Postal Service to Provide EV Charging Stations and Network Services for Growing EV Fleet

Rhea-AI Summary

Blink Charging Co. (NASDAQ: BLNK) has secured an IDIQ contract with the US Postal Service to supply up to 41,500 EV charging units as part of their electrification strategy. The contract will see Blink provide its Series 7 dual-port chargers, each offering up to 80 amps of power, facilitating simultaneous charging. This development supports Blink's mission to promote sustainable practices and enhance EV infrastructure. The Postal Service's transition to electric vehicles marks a significant shift in fleet management, potentially influencing other organizations to adopt similar sustainability initiatives.

Positive

• Secured an IDIQ contract with the USPS for up to 41,500 EV chargers.
• Promotes sustainability and supports electrification initiatives for fleet management.

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• None.

Following a competitive solicitation process, Blink was awarded a contract to provide the US Postal Service Electric Vehicle Supply Equipment.

Miami Beach, Fla., March 16, 2023 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading manufacturer, owner, operator and provider of electric vehicle (EV) charging equipment and services, announced it was awarded an IDIQ contract by the United States Postal Service (USPS) to sell up to 41,500 EV charging units to support EV charging infrastructure for the USPS as part of its vehicle electrification strategy.

“We are honored to be selected by the US Postal Service to provide our reliable and advanced EV charging stations and ancillary network services for their growing fleet of electric vehicles and we applaud their efforts to modernize and make the move towards a sustainable and efficient electric fleet,” said Michael D. Farkas, Founder and Chief Executive Officer of Blink Charging. “The Postal Service’s recent announcement of purchasing more EVs and building the necessary charging infrastructure is another step in developing a complete transition in going electric. This move towards electrification sets a precedent that we are hopeful all fleet owners will follow.”

Blink will provide its Series 7 dual-port charger that features up to 80 amps of power at each port. These fast Level 2 AC chargers allow two vehicles to charge simultaneously on the Universal J1772 connector, at 19.2kW. The NEMA 3R outdoor-rated enclosure allows flexible installation either indoors or outdoors. The compact form factor allows for ideal placement with mounting options on a wall or pedestal. Standard 18-foot charging cables (or the optional 25-foot upgrade) can reach around any vehicle, or between parking spaces, allowing greater flexibility for postal locations.

Blink offers a broad range of fleet products and services to bring sustainable practices and green initiatives to fleet facilities and create a reliable and ready fleet system. These products and services include innovative hardware and management software that connects vehicles, drivers and EV chargers, and the ability to build on existing EV charging infrastructure, maximize savings on cost with power management controls, and save on lifetime vehicle maintenance cost.

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About Blink Charging

Blink Charging Co. (Nasdaq: BLNK), a leader in electric vehicle (EV) charging equipment, has deployed nearly 66,000 charging ports across 27 countries, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations worldwide. Blink’s principal line of products and services includes the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including SemaConnect, Blue Corner and BlueLA. 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 half of passenger cars sold in the US by 2030, Blink 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 the successful sale and deployment of all 41,500 EV chargers to the USPS under the recent agreement and 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 Investor Relations Contact 
IR@BlinkCharging.com
855-313-8187 

Blink Media Contact 
PR@BlinkCharging.com

FAQ

What is the significance of Blink Charging's contract with USPS?

Blink Charging's contract with USPS is significant as it involves supplying up to 41,500 EV chargers, supporting the Postal Service's transition to an electric vehicle fleet.

When was the contract awarded to Blink Charging by USPS?

The contract was awarded on March 16, 2023.

What type of EV chargers will Blink supply to USPS?

Blink will supply its Series 7 dual-port EV chargers, which offer up to 80 amps of power at each port.

How does the USPS electrification strategy affect EV adoption?

USPS's electrification strategy is expected to set a precedent, encouraging other fleet owners to adopt electric vehicles and supporting broader EV infrastructure development.

What is Blink Charging's stock symbol?

Blink Charging is traded under the stock symbols BLNK and BLNKW.