Blink Charging To Deploy 14 IQ 200 Charging Stations in Richmond, California

Rhea-AI Summary

Blink Charging Co. (NASDAQ: BLNK, BLNKW) has announced the sale and deployment of 14 IQ 200 charging stations at five locations in Richmond, California, funded by the Bay Area Air Quality Management District. This expansion, part of California's push for EV infrastructure, will enhance public access to EV charging. The units, featuring dual-port and advanced configurations, will be installed at notable city sites, with the first at the ferry terminal during National Drive Electric Week. Blink's IQ 200 stations, recognized for their rapid charging capability, are expected to support the growing EV market in California, especially following recent regulatory changes.

Positive

• Deployment of 14 IQ 200 charging stations enhances EV infrastructure in Richmond, California.
• Funding secured through the Bay Area Air Quality Management District's Clean Air program.
• Blink's IQ 200 chargers are among the fastest level 2 AC charging stations available, appealing to a broader customer base.
• California's regulatory environment, including a ban on new gas-powered cars by 2035, provides a positive outlook for EV demand.

Negative

• None.

Miami Beach, FL, Oct. 01, 2020 (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, has announced the sale and planned deployment of 14 IQ 200 charging station at five locations in the City of Richmond, California. Funds have been awarded to the City of Richmond by the Bay Area Air Quality Management District through the Transportation Fund for Clean Air program making this public EV access expansion project possible. The units are scheduled for installation at the ferry terminal building, the Bayview Library, the May Valley Fire Station, the Hilltop Fire Station, North Richmond Fire Station #62 and at the Port of Richmond, and will consist of several configuration options including dual-port, smart/kiosk, and advanced units. The first units are tentatively scheduled for installation at the ferry terminal building during National Drive Electric Week, from September 28 to October 4, 2020.

"California continues to lead the nation in the adoption of EV usage, and we're pleased that the City of Richmond has selected Blink to expand its EV infrastructure. One of our competitive advantages is our product's deployment flexibility. The City certainly represents how we can work together to find the perfect deployment configuration for each location," commented Brendan Jones, Chief Operating Officer of Blink Charging. 

"We look forward to working with the City of Richmond on this deployment to expand the availability and convenience of their EV charging infrastructure. California has long been a strong market for our products. We look forward to future opportunities in the state, particularly as municipalities evaluate their EV framework in light of Governor Newsom's recent executive order banning the sale of new gas-powered passenger cars and pick-up trucks by 2035," Mr. Jones added.

Richmond Mayor Tom Butt stated, "Our City is committed to the ongoing transition to cleaner, environmentally friendly EVs, and we recognize that an important part of this evolution is our ability to provide reliable and convenient charging alternatives to our residents and visitors. Our goal is to truly become “electric city,” leading the region in charging infrastructure. Blink is an important part of meeting this goal. We're excited to finalize the installations and begin welcoming users to these new charging locations."

Blink Charging will be taking part in Richmond's National Drive Electric Week event educating residents about EV charging. The Company will also provide multiple home charging stations for the City to promote this event. For more information regarding the City of Richmond's National Drive Electric Week event, please visit https://driveelectricweek.org/event?eventid=2195.

Blink's IQ 200 units are the fastest level 2 AC charging stations available on the market, have a maximum output of 80 amps, and deliver up to 65 miles of charge in an hour. The Blink IQ 200 chargers have been well received by leading EV industry experts, including in the recent independent review by Tom Moloughney of InsideEvs.com.

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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 vehicles 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, 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 
PR@BlinkCharging.com

Blink Investor Relations Contact 
IR@BlinkCharging.com

FAQ

What is Blink Charging's recent announcement for Richmond, California?

Blink Charging announced the sale and deployment of 14 IQ 200 charging stations at five locations in Richmond, California.

How are the Blink charging stations in Richmond funded?

The charging stations are funded by the Bay Area Air Quality Management District through the Transportation Fund for Clean Air program.

When will the first Blink charging stations be installed in Richmond?

The first Blink charging stations are tentatively scheduled for installation during National Drive Electric Week, from September 28 to October 4, 2020.

What advantages do Blink's IQ 200 charging stations offer?

The IQ 200 chargers have a maximum output of 80 amps and can provide up to 65 miles of charge in an hour, making them among the fastest in the market.

What is the significance of California's EV regulations for Blink Charging?

California's commitment to eliminate new gas-powered cars by 2035 is likely to drive increased demand for Blink Charging's products and services.