Advanced energy conversion technology makes it easier and faster to deploy DC Fast Chargers, providing greater access to reliable EV charging Miami Beach, Fla., (January 24, 2023) – Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink”), a global leading manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced that it has signed a memorandum of understanding (MOU) with EdgeEnergy, a leading provider of power conversion equipment for EV charging solutions, for the distribution, sale, and deployment of EdgeEnergy’s proprietary power source, the EdgeEV, that utilizes proprietary technology to convert single-phase power into three-phase power for EV DC fast chargers. “We are excited to continue to expand our relationship with Blink Charging, one of America’s leading EV-charging companies,” said Greg York, the founder, and CEO of EdgeEnergy. “The need to provide reliable ultra-fast charging in areas without 3-phase power infrastructure continues to grow. Our relationship with Blink offers enormous business for both our companies and serves a critical and growing need for Blink’s customers.” As demand for ultra-fast charging continues to increase, the main barrier to EV fast charger deployment remains grid constraints and adequate power infrastructure. The EdgeEV™ will allow Blink to deploy their ultra-fast EV Chargers at a lower cost and faster timeline than if they were to rely on traditional grid upgrades. The EdgeEV™ uses patented technology to provide balanced 3-phase power from a single-phase input in ratings up to 150kW and, unlike battery dependent solutions, can provide continuous on-demand power to the fast-charging station. It can also be paired with additional EdgeEV™ units to deliver even larger kilowatt outputs that will support larger charger installations, all on single-phase. “EdgeEnergy’s technology is a game changer in how we approach grid connection for Blink’s DC Fast Charging stations,” said Brendan Jones, President of Blink Charging. “We are excited to work with EdgeEnergy to implement this technology and be able to eliminate the concern about 3-phase power availability. With EdgeEnergy’s technology we will be able to deploy more of our ultra-fast charging stations, more quickly, even without 3-phase.” Blink is the only complete, end-to-end global EV charging provider, delivering advanced technology solutions for all EV customers, including consumers, fleets, businesses, retailers, developers, and municipalities. Blink’s unique owner-operator model provides customers and partners with industry-leading charging stations for every location and a 360-degree solution they can rely on in a rapidly evolving market. Offering the most flexibility in the industry, Blink’s personalized and strategic business models also achieve customer goals whether partners want to own, partner with, or host their charging infrastructure.
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About Blink Charging
Blink Charging Co. (Nasdaq: BLNK, BLNKW), a leader in electric vehicle (EV) charging equipment, has deployed nearly 59,000 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 includes the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including SemaConnect, 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, healthcare/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://blinkcharging.com/.
About EdgeEnergy
EdgeEnergy is the maker of EdgeEV a power source that allows for the installation if EV Fast Chargers in edge-of-grid locations using existing single-phase power infrastructure. This innovation eliminates the need for power infrastructure upgrades in many cases and creates the opportunity to expand EV Charging infrastructure into areas of America where EV Fast Charging would otherwise be unavailable and solves the greatest barrier to EV adoption - range anxiety.
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 our estimate of U.S. charger production and those described in Blink Charging’s Q3 2022 Form 10-Q and other 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.