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Blink Charging CEO: Investors Shouldn’t Expect EV Plays to be Profitable — Yet
Soaring gas prices helped drive electric vehicle adoption in the first quarter, with EVs doubling their market share to 5.2% in the U.S.
Last week, Blink signed a $23.4 million deal to purchase Electric Blue (EB Charging). And its 1,150 chargers in the United Kingdom. Which marks the company’s first entry into the UK market. That was preceded by an expansion into Greece and Latin America. And last year, the company signed a nearly $24 million acquisition deal. To purchase Belgium-based charging operator Blue Corner N.V. And its 7,071 charging ports across Europe.
[bctt tweet=”The global race to net zero emissions has supercharged the EV charging infrastructure market. With some estimates expecting revenue to top $147 billion by 2030.” username=”blinkcharging”]
Blink Charging Acquires EB Charging Overseas, Marking its First Entry into the UK Market
Blink Charging announced that its European subsidiary, Blink Holdings BV, has acquired Electric Blue Ltd. Which is better known as EB Charging based in the UK. In addition to Blink’s first entry into the UK, the acquisition marks Blink’s global expansion. Which now includes over eighteen countries.
As part of the acquisition, EB Charging will continue under its current brand and further its existing strategy. But at a significantly increased pace. According to Blink’s CEO, it will expand EB Charging’s product offerings in the UK as well. This will include commercial and home chargers. As well as, global network services and apps, and new EV fleet management tools.
[bctt tweet=”Blink’s first entry into the UK with the acquisition of EB Charging marks Blink’s global expansion which now includes over eighteen countries.” username=”blinkcharging”]
Miami is Home to One of the Top Companies Powering the EV Revolution
Miami Beach-based Blink Charging has been paving the way for electric vehicles. They have done so for the better part of a decade now. The publicly-traded company designs, manufactures, and owns/operates EV charging stations.
Blink Charging Founder and CEO Michael D. Farkas highlighted that Blink has been a recipient of some of that funding. And that he looks forward to receiving more grants, rebates, and other programs. All to propel their mission to deploy charging infrastructure at scale. “It’s a little bit costly at this point in time and there may not be an instant return. But a lot of these funds will assist us in getting charging infrastructure into disadvantaged communities. Which will help ultimately with equality in these communities.”
[bctt tweet=”Blink Charging has upwards of 130 employees working on their hardware and software products. There are thousands of Blink Charging’s EV chargers deployed around the US everywhere from airports, hotels, condos, and supermarkets.” username=”blinkcharging”]
Blink Charging Awarded Grant Funds to Deploy DC Fast Chargers by the Massachusetts Department of Environmental Protection under the Massachusetts Electric Vehicle Incentive Program
The Blink award, totaling $800,000, were awarded under the Massachusetts Electric Vehicle Incentive Program (MassEVIP). Which provides grants for installing DC fast-charging stations at strategic locations around the state. The grants are part of a significant effort by Massachusetts. Meant to create a reliable EV infrastructure that supports the Commonwealth’s energy future and emissions reduction goals.
Blink will install eight dual-port DC fast chargers in strategic locations. All to further develop the state’s charging corridors and convert more drivers to EVs. The chargers will fill existing gaps in EV charging access. Along major highways and be hosted by familiar consumer brands along Route 90, Route 95, and Route 20.
Blink Charging Receives Grant for EV DC Fast Charger Deployment
The northeast is a rapidly growing EV market. It is one in which Blink Charging has been successful in being selected for multiple grant and rebate awards. According to Brendan Jones, president of Blink Charging. “Continuing to develop high-density areas and high-traffic corridors will further accelerate consumer adoption of EVs. These new DC fast charging locations will provide Massachusetts residents and travelers with the confidence. Specifically, in the state’s charging infrastructure needed to help drive the electric mobility transformation.”
[bctt tweet=”President of Blink Charging, Brendan Jones: “These new DC fast charging locations will provide Massachusetts residents & travelers with the confidence in the state’s charging infrastructure needed to drive the electric mobility transformation.”” username=”blinkcharging”]