Blink Charging CEO Applauds the U.S. Department of Transportation’s New Charging and Fueling Infrastructure Program, Opening Up $2.5 Billion Towards Fund EV Charging

Rhea-AI Summary

Blink Charging Co (Nasdaq: BLNK) supports the U.S. Department of Transportation's newly established Charging and Fueling Infrastructure (CFI) program, which allocates $2.5 billion for community electric vehicle (EV) charging projects. CEO Michael D. Farkas emphasized the essential role of Level 2 chargers in providing equitable access to charging across diverse urban and rural settings. Blink plans to expand manufacturing capabilities in Maryland to meet rising demand for EV charging solutions. The company has deployed around 66,000 charging ports globally and aims to partner with local governments to enhance community charging infrastructure.

Positive

• Blink supports the CFI program, which provides $2.5 billion for community charging projects.
• The company is expanding manufacturing capabilities for Level 2 chargers in Maryland.
• Blink has deployed nearly 66,000 charging ports globally.

Negative

• None.

Funds would strategically deploy electric vehicle (EV) charging projects in publicly accessible locations in urban and rural communities, and along designated corridors

Miami, Fla., March 15, 2023 (GLOBE NEWSWIRE) -- Michael D. Farkas, Chairman and Chief Executive Officer of Blink Charging Co. (“Blink”) (Nasdaq: BLNK), a global leading manufacturer, owner, operator and provider of electric vehicle (EV) charging equipment and networked EV charging services, makes a statement on the U.S. Department of Transportation's (DOT) creation of the new Charging and Fueling Infrastructure (CFI) program.

Mr. Farkas said that “Blink is delighted to support the Biden-Harris Administration and DOT in their announcement yesterday of the newly established Charging and Fueling Infrastructure (CFI) program, that will provide $2.5 billion to cities, counties, and local governments for community charging programs. We support the Administration's push toward reliable electric vehicle charging, nationwide, and believe that Level 2 chargers at the community level are an essential and economical way to ensure equal access to all Americans.”

Mr. Farkas continued, “Blink manufactures our NEVI compliant Level 2 chargers in Bowie, Maryland, where we are expanding manufacturing capabilities. We stand ready to work in partnership with states and local communities as they apply for this funding to provide local charging capabilities for everyday citizens. We applaud the Administration's new standards for a Made-In-America National Network for Electric Vehicle Chargers and look forward to seeing more charging access and equitability nationwide.”

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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 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 Blink Charging's involvement with the CFI program?

Blink Charging supports the U.S. Department of Transportation's Charging and Fueling Infrastructure program, which allocates $2.5 billion for community EV charging initiatives.

How many charging ports has Blink deployed?

Blink Charging has deployed nearly 66,000 charging ports across 27 countries.

When was the CFI program announced?

The CFI program was announced on March 14, 2023.

What are the benefits of Level 2 chargers according to Blink?

Blink states that Level 2 chargers at the community level provide essential and economical access to electric vehicle charging.

What is Blink Charging's stock symbol?

Blink Charging's stock symbols are BLNK and BLNKW.