Blink Charging Co. - BLNK STOCK NEWS

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced a cooperative purchasing contract with Sourcewell, allowing over 50,000 government, education, and non-profit organizations to procure Blink EV chargers. This contract is part of Sourcewell's extensive purchasing program, which provides benefits to agencies by leveraging collective buying power. Blink aims to simplify the procurement process, accelerating the installation of EV charging infrastructure as more drivers transition to electric vehicles. This partnership is among several recent agreements expanding Blink's distribution channels.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced that CEO Michael D. Farkas will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13 to 15, 2021. The presentation will be accessible to registered attendees, and one-on-one meetings will take place on September 14 with Farkas, CFO Michael Rama, and President Brendan Jones. Blink Charging is a leader in electric vehicle (EV) charging, operating over 30,000 charging ports worldwide and anticipating a surge in EV purchases, projected to reach 10 million by 2025.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has announced the installation of 27 new EV charging ports across Traverse City, Michigan, in partnership with Traverse City Light & Power. This initiative, partially funded by a $173,763 grant from the Michigan Department of Environment, aims to enhance the city's electric vehicle infrastructure. The deployment includes three DC fast chargers and 12 dual-port IQ 200 Level 2 stations, designed for current and future EV technology needs. A ribbon-cutting event was held on August 27 to celebrate this milestone.

Blink Charging Co. reported a significant 177% revenue increase for Q2 2021, reaching $4.4 million compared to $1.6 million in Q2 2020. The number of Blink-owned charging stations grew by over 46%, with 3,264 stations contracted or deployed. Revenue from charging services surged 572% year-over-year, driven by increased EV adoption. However, the company recorded a net loss of $13.5 million, up from $3 million in Q2 2020, primarily due to rising administrative costs. The company has also expanded internationally, acquiring Blue Corner N.V. and setting up a European subsidiary.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has secured a five-year agreement with Greenlight Communities, LLC to deploy 58 EV charging stations in multifamily residential properties across the Phoenix metro area. The installations will enhance charging access for EV drivers and are supported by the SRP Business EV Charger Rebate program, offering up to $1,500 per networked Level 2 station. Blink’s fast charging IQ 200 units, recognized by industry experts, will be installed at various Greenlight properties including Cabana Hayden.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) supports the Biden Administration's federal infrastructure package, which allocates $7.5 billion for electric vehicle (EV) infrastructure. CEO Michael D. Farkas emphasizes the importance of deploying Level 2 (L2) charging stations to meet the growing demand as the auto industry shifts to zero-emission vehicles. With over 77,000 L2 chargers in the U.S., Blink argues for a focus on L2 charging as a more economical solution with lower installation costs compared to DC fast chargers. The company also seeks congressional support to enhance EV charging infrastructure and manufacturing opportunities.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has secured a $12.5 million grant from the Florida Department of Environmental Protection to install 52 DC fast chargers across 25 sites along major interstate highways in Florida. This initiative aims to enhance EV charging accessibility for residents and travelers, especially in disaster scenarios. The charging stations will include features like modular battery storage and solar canopies to strengthen the energy grid. Blink's awarded sites represent nearly 80% of the available locations, contributing to the state's resilience and EV infrastructure development.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) will announce its Q2 2021 financial results on August 11, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss results for the quarter ending June 30, 2021. Investors can access the live webcast on the Blink Charging website or via a direct link. To participate by phone, call (844) 369-8770 or (862) 298-0840 internationally. A replay will be available until September 11, 2021, using conference ID: 41878. Blink Charging operates over 30,000 charging ports globally, supporting the growing demand for electric vehicles.