Agreement Expands Blinks’ Charging Station Network in California
[Updated] Miami Beach, FL – October 6, 2020 – Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner and operator of electric vehicle (EV) charging equipment and services, announced the deployment of 44 Level 2 EV charging stations, 32 of which are already installed and fully operational, at The Elysian residential building in the historic Victor Heights neighborhood near downtown Los Angeles, California. Blink will provide its EV charging stations to The Elysian’s employees, residents, and visitors to support the city’s rapidly increasing number of electric vehicles.
“With this agreement, we continue to aggressively expand our network of stations throughout the state of California” remarked Blink COO, Brendan Jones. “We are honored to be a part of The Elysian’s sustainability initiatives that are leading the way in adopting green living and promoting EV use by providing onsite charging options. With this addition of more charging stations, The Elysian is making EV use more accessible, which bolsters the reduction of carbon dioxide emissions caused by traditional gasoline-powered vehicles.”
“The lack of chargers in apartment buildings is one of the biggest obstacles to widespread electric car adoption. We have proven that our paradigm makes sense in the marketplace and we are confident that other developers will follow suit as we achieve price parity in the US. We want free EV charging to be seen as a standard amenity,” conveys Alexandra Leekley, VP of Operations for Linear City Development. The Elysian provides complimentary EV charging to its residents and guests.
“Our hope is that every Elysian resident will opt for an electric or hybrid vehicle, and with a total of 53 charging stations, including 3 fast chargers, we will have the capacity to charge our entire community should they all decide to drive electric tomorrow,” continued Leekley.
Operating on the Blink Network, Blink’s charging stations are compatible with any fully-electric or plug-in hybrid vehicle. The charging units installed at The Elysian join the rapidly growing network of Blink EV charging stations. They are operable using Blink’s mobile app, the Blink Charging website (www.blinkcharging.com), and Google or Apple Maps.
The Elysian was built in 2014 on the frame of the historic Metropolitan Water District of Southern California building originally designed by renowned architect William Pereira. Boasting an aggressive sustainability plan, The Elysian is proud to be one of the first residential buildings offering free EV charging for its residents. Along with their robust EV charging set up, The Elysian’s other sustainable features include a solar thermal water heating system, floor-to-ceiling windows with double pane low E glass, and LED lighting throughout the building, making it one of the eco-friendliest buildings in southern California.
According to The Drive, 51% of EV drivers prefer to charge their vehicles at home compared to only 16% who prefer to charge at work. Multi-family residential complexes are providing EV charging stations as a premium amenity to attract and retain residents who are environmentally conscious.
Americans Cite Range Anxiety, Cost Largest Barriers for New EV Purchases: Study, February 26, 2020. https://www.thedrive.com/news/26637/americans-cite-range-anxiety-cost-as-largest-barriers-for-new-ev-purchases-study
About Blink Charging
Blink Charging (Nasdaq: BLNK, BLNKW) is a leader in electric vehicle (EV) charging equipment and networked EV charging stations, enabling EV drivers to easily charge at any of its 23,000 deployed charging locations worldwide. The Company’s principal line of products and services is its Blink EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network utilizes a 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 by 2025 from approximately 2 million in 2019, the Company has established key strategic partnerships to rollout adoption across numerous location types, including parking facilities, multi-family 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 The Elysian
The Elysian is an aesthetic marvel. Set amidst a neighborhood of low-rise buildings, The Elysian affords its residents breathtaking views in all directions. The original building design is characterized by clean lines and wrap around balconies. The four distinctive pillars on the west and east elevation of the building are characteristic of Pereira’s best work. The twelve-foot floor height is in perfect proportion to the overall massing of the structure. The near-seamless glass floor-to-ceiling class façade provides natural light deep into the floor plate.
Beyond powerful aesthetics, The Elysian is also a masterpiece of engineering. The MWD headquarters were designated an ’’essential building’’ under City Planning guidelines. The steel and concrete design was engineered to exceed even the most stringent requirements of the City Building Code. The MWD moved to new headquarters in 1993 and the tower stood vacant for nearly twenty years until it was purchased by Linear City Development in 2011. Having successfully transformed such award-winning projects as The Toy Factory and Biscuit Company Lofts, Linear City brought both financial strength and real-world experience to the challenge of repurposing Pereira’s landmark building.
The Elysian is a remarkable achievement. Linear City is proud to have engineered the rebirth of one of the most significant mid-century buildings in Southern California, an iconic structure that will quickly become home to a diverse and sophisticated community of very fortunate residents.
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.