Friends,
These are interesting times for our country and our world. As the U.S. Presidential election wraps up and the votes are counted, there’s not much the two candidates agree on – except the efficacy of Electric Vehicle adoption as a gateway to a cleaner environment and the importance of making EVs accessible to more drivers. So, while the outcome of the election is uncertain, no matter who the next American president might be, at Blink, we’re highly optimistic that the EV revolution will continue and that our charging stations and infrastructure have a promising future.
A key concern of drivers considering a change to EVs is the ability to conveniently and quickly power up the vehicle, so no matter the environmental benefits, the EV revolution will stall without a proven charging infrastructure in place. There is a land grab underway in our industry to get chargers deployed in attractive locations. Blink’s flexible business model with multiple options for property owners positions us well to deploy chargers quickly. A distinguishing attribute of our business model and strategy is that many of these chargers are owned and operated by Blink. From the type of charger installed, the location, and the ongoing maintenance, when we’re the owner and the operator, Blink can make it easy and affordable for the property owner while capturing attractive economics as utilization grows with more and more EVs hitting the road.
We’ve announced several innovative partnerships recently, including strategic development and production agreement with SG Blocks to bring solar, off-grid modular EV charging solutions to the market. SG Blocks recycles cargo shipping containers for use in construction. I encourage you to visit their website, www.sgblocks.com, to view some of their retail and residential projects – not only do they provide a practical building solution, but they also provide a cutting edge aesthetic. Working together, we’ll bring our charging stations to their locations to deploy a rapid and cost-effective EV charging solution.
Additionally, we recently announced the deployment of 44 Level 2 EV charging stations at The Elysian, a residential building in Los Angeles, focusing on green living. They are truly a pacesetter in sustainable living solutions, and we’re proud to be part of their suite of resident amenities. We’ve seen a significant uptick in multifamily residential properties looking to deploy Blink chargers to provide EV charging as a resident amenity.
Last month we also announced a working partnership with Sustainable Westchester, a leading nonprofit consortium of local municipalities in Westchester County, New York, facilitating the effective collaboration of sustainable solutions resulting in healthier, more resilient communities. We’re working with them to promote the build-out of EV charging infrastructure by providing 50 Level 2 IQ 200 chargers for deployment in local communities. Westchester County, NY, has more than 5,500 registered EVs but only one charging station per 22 EVs. We’re excited to help Sustainable Westchester enhance the EV infrastructure in the region to help serve as a catalyst for increased EV adoption, and we believe this partnership can set a standard for businesses to team with the nonprofit and public sectors to develop initiatives to advance the adoption of clean transportation alternatives. As the partnership develops, we’re working together to educate interested host locations and municipalities in New York about EV charging and grant opportunities available. In fact, we’ll be working with Sustainable Westchester to host an educational webinar about EV charging on November 19th.
Since I last wrote, we’ve begun transitioning and improvement planning for BlueLA Carsharing, the contractor for the EV car sharing program for the City of Los Angeles. We’re energized by our increased presence in that market and believe this will bring additional EV charging opportunities in the region. As you know, California was an early adopter of EV technology, and LA’s carsharing program is groundbreaking in its focus on making EV use available and affordable to low-income families and communities of color. This is an important program and market for Blink, and we believe there is a significant opportunity to expand the BlueLA model to other urban centers.
We continue to see significant opportunities to grow our business, and we remain committed to bringing innovation and flexibility to the development of convenient and reliable EV infrastructure.
Best,
Michael D. Farkas
Founder and Chief Executive Officer
