Blink Charging Signs Collaborative Agreement with Triple J and Guam Power Authority to Deploy EV Chargers and Develop a Robust EV Infrastructure on the Island

Rhea-AI Summary

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced a mutual service agreement with Triple J Enterprises and the Guam Power Authority aimed at deploying EV charging stations across Guam. This partnership allows Triple J to purchase Blink charging equipment for its properties, enhancing EV charging accessibility. The GPA will assist in managing electrical grids and securing rates for these stations. This initiative aligns with Guam's ambition for a clean energy future, ultimately reducing transport costs and expanding local transit options.

Positive

• Partnership with Triple J and GPA for EV infrastructure growth in Guam.
• Access to advanced EV charging technology through Blink's proprietary network.
• Potential reduction in transportation costs for consumers.
• Expansion into new emerging EV markets in the Asia Pacific.

Negative

• None.

Miami Beach, FL, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner and operator of electric vehicle (EV) charging equipment and services, today announced a mutual service agreement with Triple J Enterprises (Triple J), and the Guam Power Authority (GPA). The agreement calls for the deployment of Blink charging stations and related services to Triple J properties throughout the island of Guam, supported by GPA to maintain the electrical grid performance.

The agreement allows Triple J to purchase select Blink charging equipment to provide EV charging services at many Triple J locations, including its auto dealerships and hospitality locations as well as allowing Triple J to provide Blink EV chargers to other local business and organization in an effort drive EV charging accessibility and growth. As charging stations are deployed, Triple J and its customers will have access to the latest EV charging technology that provides speed, ease of use, and an affordable energy source for powering the automobiles of the future.

Through the agreement, the GPA, the Government of Guam’s electricity provider, will play a vital role in the electrical grid and will provide key points of contact to help Blink and Triple J best grow the EV charging network throughout Guam. With access to live usage data, GPA will eventually have the ability to manage chargers when needed in order to prevent load shedding on the grid. 

GPA will also coordinate with Blink and Triple J in setting and securing special rates for EV charging stations as well as collaborating on new, forward-thinking projects such battery and power storage solutions, solar, and vehicle to grid solutions.

“We are excited to see Guam’s growing interest in building out its EV infrastructure and look forward to our continued efforts to provide Triple J access to the broad range of Blink products, services and innovative solutions,” said Brendan Jones president of Blink Charging. “The Blink network of EV chargers offers a variety of solutions for Triple J and for the increasing number of EV drivers in Guam.”

Triple J and GPA have selected Blink for their unique ability to provide comprehensive solutions and for their commitment to assist Guam in their quest to become an affordable, clean energy island where currently, fuel costs are some of the highest in the nation. By expanding Guam’s EV infrastructure and providing reliable and convenient EV charging solutions, Guam will ultimately lower the cost of transportation to end users as well as allow local mass transit to expand schedules and add new routes due to the reduced operating costs. Through such agreements, Blink looks to enter new and growing EV markets throughout the Asian Pacific.

Blink offers a full range of EV station deployment configurations, including single and multiple cord pedestals, individual and paired wall-mount chargers, DC fast, and even single-family residential charging stations and include its proprietary, all new Blink Network, a cloud-based tool that operates Blink EV chargers and their charging data. The Blink Network provides hosts remote monitoring and management, payment processing, and provides EV drivers with vital EV charger information.

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About Blink Charging

Blink Charging Co. (Nasdaq: BLNK, BLNKW), a leader in electric vehicle (EV) charging equipment, has deployed over 51,000 charging ports across 25 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 rise to 10 million vehicles by 2025 from approximately 2 million in 2019, 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 the recent agreement involving Blink Charging (BLNK, BLNKW)?

Blink Charging announced a mutual service agreement with Triple J Enterprises and the Guam Power Authority to deploy EV charging stations across Guam.

How does the agreement with Triple J benefit Blink Charging (BLNK, BLNKW)?

The agreement allows Blink to provide its charging equipment and services to enhance EV charging accessibility and infrastructure for Triple J properties.

What role does the Guam Power Authority play in Blink Charging's agreement?

The Guam Power Authority will help manage the electrical grid performance and coordinate with Blink and Triple J on securing special rates for EV charging stations.

What are the expected outcomes of Blink Charging's agreement in Guam?

The agreement is expected to reduce transportation costs and enhance the local mass transit system due to lower operating expenses.

What is Blink Charging's market strategy following the agreement in Guam?

Blink intends to expand its presence in emerging EV markets throughout the Asia Pacific, leveraging the partnership with Triple J and GPA.