Provides for Cooperative Deployment of Charging Stations with Energy Storage to Support Growing Demand for Electric Vehicles
LOS ANGELES – (BUSINESS WIRE) – October 16, 2020 – SG Blocks, Inc. (NASDAQ: SGBX) a leading designer, innovator and fabricator of container-based structures, and Blink Charging Co. (NASDAQ: BLNK), a leading owner and operator of electric vehicle (EV) charging equipment and services, today jointly announced that they entered into an exclusive Master Development and Production Agreement pursuant to which Blink’s EV charging solutions will be deployed along with SG Blocks’ container-based modular building structures. The Agreement brings together two industry leaders and natural allies to deploy a rapid and cost-effective innovative EV charging solution. The EV charging containers will be designed to provide off-grid charging solutions through a combined solar and battery components in multiple capacities.
“By deploying our leading EV charging technology in SG Blocks’ modular structures, Blink expects to be able to greatly increase our geographic footprint supporting the growing number of electric vehicles and the need for increased charging locations,” said Michael D. Farkas, Founder and Chief Executive Officer of Blink. “SG Blocks provides a turn-key solution that is durable and environmentally friendly. It provides the unique ability to deploy EV charging stations quickly and effectively.”
“It is an honor to be working with Michael and the team from Blink on this natural alliance of sustainably focused firms. We are excited to partner with Blink to provide a rapid, clean, and durable solution that facilitates Blink’s growth in the EV charging market,” said Paul M. Galvin, Chairman & CEO of SG Blocks. “As we mobilize to deliver our modular solutions to Blink, together, we are helping our joint customers minimize their carbon footprint and maximize their lifestyles.”
With this Master Development and Production Agreement, Blink and SG Blocks plan to co-develop 20-foot and 40-foot solar-powered containers, with Blink’s IQ 200 and DCFC charging stations. The 20-foot container will host four 80-amp charging stations, and the 40-foot container will support eight 80-amp charging stations.
SG Blocks will provide code compliant industrial design, architecture, and engineering specifications for the modular structure. Blink will provide all design, engineering specifications, and parameters of EV charging services and their operation.
About SG Blocks, Inc. SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and is then customized to client specifications. For more information, visit www.sgblocks.com.
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/.
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding plans to deploy Blink’s EV charging solutions via SG Blocks’ container based modular building structures and increasing Blink’s geographic footprint to support the growing number of electric vehicles and the need for increased charging locations. While we believe these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to deploy Blink’s EV charging solutions via SG Blocks’ container based modular building structures as planned, our ability to increase Blink’s geographic footprint as expected, our ability to position our respective companies for future profitability, our ability to maintain our respective companies’ compliance with the NASDAQ listing requirements, and the other cautionary statements discussed in our respective companies’ Annual Reports on Form 10-K for the year ended December 31, 2019 and our respective companies’ subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
SG Blocks Contacts
Rubenstein Public Relations:
Account Director 212-805-3029