InterEnergy Purchases an additional 100 Level 2 and 50 DCFC Blink Charging Stations to Expand its EV Infrastructure Footprint

Rhea-AI Summary

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has received a follow-on order from InterEnergy Group for 150 EV fast-charging stations, valued at approximately $1.0 million, to be deployed in the Dominican Republic. This order is part of a broader strategy as InterEnergy aims to install over 500 charging stations in the region by the end of 2021. To date, InterEnergy has ordered a total of 575 charging stations from Blink, totaling over $4.3 million. The Blink IQ 200 chargers, noted for their efficiency, play a critical role in supporting the growing electric vehicle market in the Caribbean and Central America.

Positive

• Received a $1.0 million order for 150 fast-charging stations.
• Total orders from InterEnergy now exceed $4.3 million for 575 charging stations.
• Blink is positioned as the sole provider of EV charging equipment in the Dominican Republic.
• Strategic partnership with InterEnergy enhances Blink's market presence in Latin America.

Negative

• None.

This follow-on order brings 575 Blink Chargers to the Caribbean, Central and South America

Miami Beach, FL, Feb. 25, 2021 (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, today announced that it had received a follow-on order from the InterEnergy Group for 150 fast-charging stations, including 100 Blink IQ 200 units and 50 DCFC units, to be deployed across the Dominican Republic.

Valued at approximately $1.0 million, this order marks the fourth-order Blink has received from InterEnergy and the third agreement between the two companies to deploy EV equipment in the Dominican Republic. Blink also recently announced an initial order from InterEnergy for the deployment of charging stations in Panama as part of InterEnergy’s expansion plans for its EV charging network, EverGo, in that country. To date, InterEnergy has purchased a total of 575 Blink Level 2 and DCFC charging stations, representing more than $4.3 million in purchase orders.

As pioneers in the build-out of EV charging infrastructure for the Caribbean, Central, and South America, InterEnergy aims to deploy more than 500 charging stations throughout the Dominican Republic and Panama by the end of 2021.

“We’re proud to be the sole provider of EV charging equipment in the Dominican Republic and play a vital role in providing state-of-the-art charging alternatives to the island’s residents. Our partnership with InterEnergy, is bringing fast and convenient EV charging infrastructure to the region, supporting the growing use of electric vehicles in the Dominican Republic,” commented Blink Founder and CEO Michael D. Farkas.

InterEnergy provides energy solutions to more than 66% of the national tourism sector in the Dominican Republic. Installation locations for Blink’s charging stations will include high-traffic locations such as hotels and resorts, shopping centers, and gas stations.

“The people of the Dominican Republic are embracing sustainable mobility, and we are excited to work with Blink to facilitate increased access to a sophisticated, largest-of-its-kind network of electric vehicle charging stations to serve the country’s needs. We look forward to continuing to work with Blink to expand services to more residents across Latin America and the Caribbean,” commented Roberto Herrera, country manager in the Dominican Republic of InterEnergy Group.

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, making them the preferred level 2 option for destination charging.

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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/.

About InterEnergy Group

For three decades, InterEnergy has powered people and cities across the Caribbean and Latin America – providing reliable, cost-effective and clean energy to the Dominican Republic, Panama, Jamaica, and Chile.

Its generation portfolio aggregates approximately 1,250MW of installed capacity across the region. It is also the exclusive supplier of electricity to the fast-growing tourism resort area of Punta Cana-Bavaro, representing more than 66% tourism sector in the country.

As a pioneer in renewable energy, InterEnergy developed the first wind farms in the Dominican Republic, the largest wind farm in Central America, and several solar power projects throughout the region. By supplying over 320 MW of renewable energy generation throughout the region, InterEnergy eliminates hundreds of thousands of tons of CO2 emissions per year.

For more information about Interenergy, please visit www.interenergy.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
855-313-8187

FAQ

What is the value of Blink's recent order from InterEnergy?

The recent order is valued at approximately $1.0 million.

How many charging stations has InterEnergy ordered from Blink so far?

InterEnergy has ordered a total of 575 charging stations from Blink.

What types of chargers are included in Blink's new order?

The order includes 100 Blink IQ 200 units and 50 DCFC units.

What are the deployment locations for Blink's charging stations in the Dominican Republic?

Charging stations will be installed in high-traffic locations like hotels, shopping centers, and gas stations.

What is the significance of Blink's partnership with InterEnergy?

The partnership positions Blink as a key player in the EV charging infrastructure across the Caribbean and Central America.