Blink Charging Awarded Grant Funds to Deploy DC Fast Chargers by the Massachusetts Department of Environmental Protection under the Massachusetts Electric Vehicle Incentive Program

Rhea-AI Summary

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has received $800,000 in grants from the Massachusetts Department of Environmental Protection to install 8 dual-port DC fast charging stations across the state. This funding is part of the Massachusetts Electric Vehicle Incentive Program aimed at enhancing EV infrastructure, supporting the state’s goal to phase out gas-powered vehicles by 2035. The new stations will help facilitate EV adoption by improving access to charging in key locations along major highways.

Positive

• Awarded $800,000 in grants to enhance EV charging infrastructure in Massachusetts.
• Expansion of charging access supports the state's emissions reduction goals.
• Strategic installation of chargers along busy highways to boost EV adoption.

Negative

• None.

Blink to deploy 8 DC fast charging stations across Massachusetts

Miami Beach, FL, March 16, 2022 (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, today announced that it has been awarded grants from the Massachusetts Department of Environmental Protection (MassDEP) to install 8 dual-port 75-175kW DC fast-charging stations across the state of Massachusetts.

The Blink award, totaling $800,000, were awarded under the Massachusetts Electric Vehicle Incentive Program (MassEVIP), which provides grants for installing DC fast-charging stations at strategic locations around the state. The grants are part of a significant effort by Massachusetts to create a reliable EV infrastructure that supports the Commonwealth's energy future and emissions reduction goals. Massachusetts has announced a goal of ending the sale of new gas-powered vehicles by 2035. The Commonwealth will seek to have 30 percent of all trucks and bus sales be zero-emission vehicles by 2030, hoping to reach 100 percent of sales by 2050.

"We are thrilled to have been awarded grant funds from MassDEP to continue expanding EV charging access in Massachusetts. The northeast is a rapidly growing EV market. It is one in which we have been successful in being selected for multiple grant and rebate awards," said Brendan Jones, President of Blink Charging. "Continuing to build-out high-density areas and high-traffic corridors will further accelerate consumer adoption of EVs. These new DC fast charging locations will provide Massachusetts residents and travelers with the confidence in the state's charging infrastructure needed to help drive the electric mobility transformation."

Blink will install eight dual-port DC fast chargers in strategic locations to further develop the state's charging corridors and convert more drivers to EVs. The chargers will fill existing gaps in EV charging access along major highways and be hosted by familiar consumer brands along Route 90, Route 95, and Route 20.

Installation of Blink’s DC fast charging stations as part of this grant aware include the following locations:

Brookline

• Sunoco, 454 Harvard Street
  

Canton

• Sunoco, 702 Neponset Street
  

Lenox

• Burger King, 500 Pittsfield Road
  

Northampton

• Burger King, 344 King Street
  

Norwell

• Sunoco, 117 Pond Street
  

Somerset

• Sunoco, 525 County Street
  

Springfield

• Burger King, 727 Boston Road
  

Worcester

• Sunoco, 527 Southwest Cutoff
  

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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 30,000 charging stations across 13 countries, 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

FAQ

What are the locations of the new Blink Charging stations in Massachusetts?

Blink Charging will install DC fast chargers in Brookline, Canton, Lenox, Northampton, Norwell, Somerset, Springfield, and Worcester.

How much funding did Blink Charging receive for the DC fast charging stations?

Blink Charging received $800,000 from the Massachusetts Department of Environmental Protection.

What is the purpose of the Massachusetts Electric Vehicle Incentive Program?

The program provides grants to enhance EV infrastructure and promote the adoption of electric vehicles in the state.

What is Blink Charging's stock symbol?

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

What are Massachusetts' goals for electric vehicles by 2035?

Massachusetts aims to end the sale of new gas-powered vehicles and achieve 30% zero-emission vehicle sales by 2030.