CUSHMAN & WAKEFIELD SIGNS PREFERRED SUPPLIER AGREEMENT WITH BLINK CHARGING FOR DEPLOYMENT OF ELECTRIC VEHICLE CHARGING STATIONS

Rhea-AI Summary

Blink Charging Co. (NASDAQ: BLNK, BLNKW) has entered a preferred supplier agreement with Cushman & Wakefield to provide electric vehicle (EV) charging stations and services across the U.S. Cushman & Wakefield will leverage its extensive network to introduce Blink's charging solutions as amenities in commercial properties. The agreement highlights Blink's versatility in offering ownership and revenue-sharing models to clients, positioning them to meet the growing demand for sustainable transportation solutions. This collaboration aims to enhance tenant experiences while supporting a greener future.

Positive

• Preferred supplier agreement with Cushman & Wakefield enhances Blink's market reach in EV charging.
• Cushman & Wakefield will promote Blink's services to a large network of property managers.
• Offerings include various ownership models that provide flexibility to property owners.
• Collaboration aligns with increasing demand for sustainable transportation solutions.

Negative

• None.

Miami Fla., Aug. 25, 2022 (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 and Cushman & Wakefield, a leading global real estate services firm, today announced a preferred supplier agreement for the marketing and potential deployment of Blink charging stations and related services to Cushman & Wakefield clients throughout the United States.

Cushman & Wakefield has agreed to engage its large network of property managers to introduce Blink equipment and services as a potential amenity at the commercial properties it manages.

“Blink is pleased to provide Cushman & Wakefield clients with access to Blink EV fast charging stations and services,” said Michael D. Farkas, Chairman and Chief Executive Officer of Blink. “The Blink network of EV chargers provide much needed charging solutions for Cushman & Wakefield’s clients. We look forward to supporting them as they continue to build a greener future while enhancing resident and tenant experiences at their clients’ properties.”

Blink was selected for its broad range of products, services and innovative solutions with flexible business models that meet the diverse needs and challenges property owners face. This includes providing options such as having Blink own the equipment and share a portion of the revenues with the host or be host owned for properties who want to be the sole owner and operator of their EV charging stations. Blink also offers a hybrid where Blink covers the cost of equipment, operations, and administration.

Cushman & Wakefield client properties will also have access to leading edge EV fast charging technology with a full range of deployment configurations. This includes single and multiple cord pedestals, individual and paired wall-mount chargers, DC fast, multi-family charging stations, all operable on the proprietary Blink Network, a cloud-based tool that operates Blink EV chargers and their charging data.

“This agreement puts us and our clients at the forefront of the movement toward more sustainable transportation,” said Marla Maloney, President, Americas Services, Cushman & Wakefield. “We look forward to working with Blink to effectively address the needs of the growing population of EV drivers and contribute to a greener future while enhancing the tenant and resident experience.”

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 include the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including 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/ External Link.

About Cushman & Wakefield 

Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

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 between Blink Charging and Cushman & Wakefield?

Blink Charging has signed a preferred supplier agreement with Cushman & Wakefield to market and deploy Blink EV charging stations across the United States.

How will the agreement with Cushman & Wakefield impact Blink Charging's business?

The agreement is expected to expand Blink Charging's reach by utilizing Cushman & Wakefield's network of property managers to introduce charging solutions as tenant amenities.

What types of EV charging solutions will Blink provide to Cushman & Wakefield clients?

Blink will offer a range of EV fast charging technologies, including single and multiple cord pedestals, wall-mount chargers, and various ownership models for the charging stations.

How does Blink Charging's partnership with Cushman & Wakefield support sustainability?

The partnership aims to address the needs of the growing population of EV drivers, contributing to more sustainable transportation at client properties.

What is Blink Charging's stock symbol?

Blink Charging is traded under the ticker symbols BLNK and BLNKW.