Blink Charging Announces Long Term Agreement to Deploy EV Charging Stations at Fattal Hotel Group Locations in Israel

Rhea-AI Summary

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has signed a long-term contract with Fattal Hotel Group to deploy EV charging stations at 26 locations in Israel. This partnership aims to meet the increasing demand for public EV charging infrastructure, with a report estimating over 25,000 charging points needed by 2025 in the country. The seven-year agreement promotes Blink's strategic international expansion and positions it to serve the growing number of EV users among hotel guests and tourists.

Positive

• Long-term contract with Fattal Hotel Group to deploy EV charging stations at 26 locations.
• Positioning to meet the projected need for over 25,000 public EV charging points by 2025 in Israel.
• Partnership enhances Blink's international expansion strategy.

Negative

• None.

• Fattal Hotel Group will begin deployment of Blink EV charging equipment across 26 locations as part of initial launch
• Research report estimatse the need for more than 25,000 charging points by 2025 in the country

Miami Beach, FL, May 05, 2021 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, announced today that it has signed a long term contract to deploy its EV charging stations at Fattal Hotels across Israel. The EV charging equipment will be owned and operated by Blink. Fattal is one of Israel’s leading hotel companies, with luxury hotels in 14 major tourist locations, serving more than a million of tourists a year.

“We’re excited to partner with the Fattal Hotel Group to expand Blink’s presence in Israel. The EV market in Israel is growing steadily, and the deployment of our industry leading EV charging stations will provide a fast and convenient charging option for hotel guests as well as the many tourists who visit the vacation destinations where these hotels are located. As more drivers choose EVs, it can be expected that when they travel, they will increasingly seek hotels that can accommodate their charging needs,” commented Michael D. Farkas, Blink Founder and CEO. “This is another step in the beginning of our strategic and rapid international expansion plans.”

“Fattal Hotels are known for the high-end amenities they provide their guests, and we’re excited to partner with them to provide our premier EV charging solution. Our exclusive agreement with Fattal is a seven-year contract with a five-year extension, utilizing our owner/operator model, and we look forward to proving our capabilities with the goal of expanding to more Fattal locations as we move through our contract term,” said Marc Berger, Managing Director at Blink Charging.

According to a report published by Samuel Neaman Institute for National Policy Research entitled, “Electric Vehicles Charging Infrastructure in Israel,” tens of thousands of public charging stations will be needed within less than a decade. By 2025, it is estimated more than 25,000 EV public charging points will be required, with Tel Aviv, Haifa, Jerusalem, and Rishon LeZion municipalities can expect demand for hundreds of public charging stations within less than a decade. Blink’s agreement with Fattal Hotel Group will be able to help fill this growing need for publicly available charging infrastructure.

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About Fattal Hotel Group
Fattal Hotel Group is Israel’s largest hospitality organization and one of the fastest growing hotel groups across the UK and Europe. The company has 218 hotels in 19 countries and operates under the Leonardo, Herods, NYX, Jurys Inn, Apollo and U Hotels brand names. To learn more, visit: https://www.fattalhotelgroup.com/

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 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, along with terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should,” and 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
855-313-8187

Sources:
https://www.neaman.org.il/EN/Files/Electric%20Vehicles%20Charging%20Infrastructure%20in%20Israel%20SNI.pdf