Blink Charging Signs Exclusive Long-Term Agreement with Lehigh Valley Health Network to Own and Operate EV Chargers across their Portfolio of Health Care Locations
Blink Charging (Nasdaq: BLNK, BLNKW) has signed a seven-year exclusive agreement with Lehigh Valley Health Network (LVHN) to deploy 219 EV chargers across its healthcare facilities in Pennsylvania. This partnership underscores LVHN's commitment to sustainability and clean transportation, enhancing the accessibility of EV charging for staff and visitors. Initial installations will start at Lehigh Valley Hospital, with the remainder set for deployment in 2021. The agreement allows for two additional seven-year extensions, reflecting a long-term strategy to support the growing demand for EV infrastructure.
- Secured a seven-year exclusive agreement with LVHN for deploying 219 EV chargers.
- Long-term commitment from LVHN signifies strong demand for EV infrastructure.
- Opportunity for two additional seven-year extensions enhances stability and growth potential.
- None.
- Initial deployment of 219 chargers will be located at 35 Pennsylvania locations
Miami Beach, FL, Dec. 22, 2020 (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 an exclusive seven-year agreement with Lehigh Valley Health Network (LVHN) for Blink to own and operate charging stations across the health network's extensive portfolio of locations. The agreement allows Blink to deploy EV chargers across LVHN’s hundreds of health care facilities, including hospitals, health centers, physician practices, rehabilitation locations, ExpressCARE sites and other outpatient care locations. Under this agreement, Blink will own and operate the charging stations.
"As evidenced by the exclusive and long-term nature of this agreement 7-years with two 7-year extensions, LVHN is committing to making EV charging stations available to the medical staff, patients and visitors of Lehigh Valley Health Network. They serve as a model both in their local communities and the health care industry, and they should be commended for providing the infrastructure required to make widespread EV adoption a reality," said Blink Charging Chief Operating Officer Brendan Jones.
"At LVHN, we care deeply about our community's environmental future and are committed to the use of clean energy and transportation," said LVHN President and CEO Brian Nester, DO, MBA, FACOEP. "Electric vehicles have many benefits, including reducing carbon dioxide pollution and improving the health of communities. That's why we are excited to make EV fast-charging stations readily available to Lehigh Valley residents. We believe this effort will help pave the way for more widespread adoption of electric vehicle use in the future."
"As the EV boom continues, Blink is leveraging our relationships, such as this one with Lehigh Valley Health Network, to identify host locations that recognize the need for EV charging infrastructure as consumer demand increases. We appreciate these long-term, exclusive contracts as they allow us and the host location to add charging stations as warranted by demand," said Jones.
The deployments began with the first Level 2 fast-charging stations at Lehigh Valley Hospital (LVH)-Cedar Crest in Allentown, Pennsylvania. Six additional chargers are scheduled to be deployed in 2020 at LVH-Muhlenberg, and six at its soon-to-open LVH-Hecktown Oaks campus in early 2021. The remainder of the initial 219 chargers will be deployed in 2021.
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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 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/.
About Lehigh Valley Health Network
LVHN includes eight hospital campuses, three in Allentown, one in Bethlehem, one in East Stroudsburg, one in Hazleton and two in Pottsville, Pa.; Coordinated Health, which includes two hospital campuses, nearly two dozen multispecialty locations including ambulatory surgery centers and orthopedic injury centers in northeastern Pennsylvania and western New Jersey; 26 health centers; numerous primary and specialty care physician practices; 20 ExpressCARE locations including the area’s only Children’s ExpressCARE; pharmacy, imaging, home health, rehabilitation and lab services; and preferred provider services through Valley Preferred. Specialty care includes: trauma care for adults and children, burn care at the Regional Burn Center; kidney and pancreas transplants; perinatal/neonatal, cardiac, cancer, orthopedics, neurology, complex neurosurgery capabilities including national certification as a Comprehensive Stroke Center, and robotic surgery in 10 specialties. Lehigh Valley Cancer Institute, Lehigh Valley Heart Institute and Lehigh Valley Institute for Surgical Excellence physicians provide the most advanced treatments. Lehigh Valley Cancer Institute is a member of the Memorial Sloan Kettering (MSK) Cancer Alliance, an initiative that helps community providers improve the quality of cancer care and offers access to MSK clinical trials. Lehigh Valley Reilly Children’s Hospital, the community’s only children’s hospital, provides care in more than 30 specialties and general pediatrics. Lehigh Valley Hospital–Cedar Crest is ranked as the region’s No.1 hospital for seven straight years and has been recognized among Pennsylvania’s top six hospitals for seven consecutive years by U.S. News & World Report. Lehigh Valley Hospital (LVH)–Cedar Crest, LVH–17th Street and LVH–Muhlenberg are the region’s only Magnet® hospitals for nursing excellence. Additional information is available by visiting LVHN.org or following us on Facebook , Twitter, LinkedIn and Instagram.
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
LVNH Contact
Brian Downs
Public Information Officer
Brian.Downs@lvhn.org
484-884-0819
FAQ
What is the significance of Blink Charging's agreement with Lehigh Valley Health Network?
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What are the potential extensions of the Blink Charging and LVHN agreement?
