Blink Charging Selected by Jon Henry General Store to Supply EV Charging Solutions at Historic Location in New Market, Virginia

Rhea-AI Summary

Blink Charging Co. announced the installation of six Level 2 chargers at Jon Henry’s General Store in New Market, VA, reinforcing Blink's commitment to the Mid-Atlantic Electrification Partnership. The collaboration between Blink and Jon Henry's General Store marks an intersection of tradition and innovation. Blink also raised its 2023 revenue target from $100-$110 million to $110-$120 million.

Positive

• Blink's installation of chargers and commitment to the Mid-Atlantic Electrification Partnership demonstrate their dedication to expanding their EV charging network and driving revenue growth.

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• None.

Electric vehicle drivers will be able to charge up on the new Blink chargers and enjoy Jon Henry’s farmer’s market at a ribbon cutting event on September 27, 2023.

Miami Beach, Fla., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global manufacturer, owner, operator and provider of electric vehicle (EV) charging equipment and services, announced today that the Company will be installing six Level 2 (L2) chargers at Jon Henry’s General Store in New Market, Va. A ribbon cutting event will mark the installation on September 27, 2023, from 4 - 5 p.m. EST at Jon Henry’s General Store at 9383 N. Congress St. in New Market, Va.

The installation of three Blink IQ 200 Advanced chargers and three Blink IQ 200 Smart chargers at Jon Henry’s General Store reinforces Blink’s commitment to the Mid-Atlantic Electrification Partnership (MAEP). The Mid-Atlantic Electrification Partnership is focused on creating a regional EV ecosystem in Virginia, West Virginia, Washington D.C., and Maryland to connect the Mid-Atlantic Region’s cities. This will enable the utilization of all sizes of EVs (light, medium and heavy duty) for fleets, transportation network companies, and consumers alike. Blink’s ongoing collaboration with MAEP involves the deployment of a total of 200 networked 19.2kWh L2 chargers in the region through 2024.

“The Mid-Atlantic region’s transportation will be electrified through community-centric charging stations,” said Jim Nemec, Chief Revenue Officer for Blink Charging. “Our work with Jon Henry’s General Store is a perfect example of meeting EV drivers where they are with targeted charging convenience. We look forward to electrifying New Market and bringing the future of transportation to a historic location.”

Jon Henry’s General Store opened in 2018 in Virginia’s New Market district. The general store made its home in New Market’s oldest building, acquired the adjacent Weaver Hotel property, and is now complementing both with the latest in EV charging technology. The collaboration between Blink Charging and Jon Henry’s General Store marks an intersection of tradition and innovation. Known for their emphasis on Fair Trade, working locally with over 200 farmers, growers, bakers, and locals to keep stocked locally, Jon Henry’s General Store is focused on making positive community impacts and building connections – in line with Blink Charging’s mission to do its part in slowing climate change by reducing greenhouse gas emissions caused by transportation.

“We are excited to offer another amenity to our customers and community. It’s exciting to see folks stopping in our town to explore while their car charges,” said Jon Henry, Owner of Jon Henry General Store. “We’ve received positive feedback from our guests that the Weaver Hotel rooms are booked specifically for the chargers. We found working with Blink to be a great experience and easy to integrate into our footprint in noninvasive ways.”

The installation of Blink chargers at Jon Henry’s General Store is the latest installation made by Blink under the Mid-Atlantic Electrification Partnership. Blink has placed Level 2 (L2) charging stations across six hotel locations in Virginia, Washington D.C., and Maryland. L2 charging stations are well-suited for EV drivers to charge their vehicles while visiting retail, entertainment, and travel destinations. Blink and Jon Henry’s General Store are able to lead and innovate within their industries by making EV charging as convenient and accessible as possible.

Today’s announcement follows Blink’s Q2 2023 earnings release, the strongest in Company history, which saw total revenues increase to nearly $33 million for the quarter. Blink also announced it raised its 2023 revenue target from $100 – $110 million to $110 – $120 million and is targeting a positive adjusted EBITDA break-even run rate by December 2024. Blink's growth is notable, as it places the Company among the relatively few U.S. companies that have adopted a vertically integrated approach to electric vehicle (EV) charging. Blink not only manufactures and sells charging equipment but also operates a network of chargers connected to its infrastructure.

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About Blink Charging

Blink Charging Co. (Nasdaq: BLNK), a global leader in electric vehicle (EV) charging equipment, has contracted, sold, or deployed nearly 78,000 charging ports worldwide, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations. 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, BlueLA and Envoy. 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 Media Contact
Jon Myers
PR@BlinkCharging.com
305-521-0200 ext. 266

Blink Investor Relations Contact
Vitalie Stelea
IR@BlinkCharging.com
305-521-0200 ext. 446