Blink Charging’s Blue Corner to Install up to 500 EV Charging Stations Across Belgium Through Exclusive Agreement with KU Leuven
– Blink Charging’s European Subsidiary, Blue Corner, signs four-year sales contract and 10-year service agreement to deploy EV chargers at KU Leuven research and academic facilities
Miami Beach, FL, July 08, 2021 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced that its wholly owned European subsidiary, Blue Corner, has signed a contract to sell and operate EV charging stations at the KU Leuven campuses across Belgium. KU Leuven is one of Europe’s leading research universities. This exclusive four-year sales contract also includes a 10-year service agreement for the operation of the charging stations. The sales and operations contract is valued at approximately €1.5 million or approximately $1.8 million.
“We acquired Blue Corner precisely because of its strategic expertise, relationships, and market presence in Europe. This exclusive long-term contract with KU Leuven will bring accessible EV charging through the deployment of approximately 300 to 500 charging ports on the campuses of this prestigious educational institution, serving students, instructors, and visitors to their locations across Belgium,” stated Michael D. Farkas, Blink Founder and Chief Executive Officer. “Europe is leading the transition to EV use and we’re energized by the opportunities we’re seeing to increase our role in providing the infrastructure to support the advancement of the European EV charging landscape.”
Europe is experiencing widespread electric vehicle adoption. According to European new vehicle sales figures published in May 2021 by H.C. Wainwright & Co., Norway is leading the region with 83% of new car sales being electric. Figures from the EV Data Center for April 2021 new car sales show that Belgium experienced a significant increase in the sale of electric vehicles with year-over-year growth of 1230%.
The tender award is being coordinated through the Blue Corner team based in Antwerp, Belgium which continued to work for the company following Blink’s acquisition of Blue Corner, and will begin deployments commencing in the fall of 2021.
ABOUT BLINK CHARGING
Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a leader in electric vehicle (EV) charging equipment and has deployed over 30,000 charging ports across 13 countries, 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 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/.
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, along with terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should,” and 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.
H.C. Wainwright & Co. Industry Update, Clean Technology, June 7, 2021. Weekly Cleantech and Renewable Roundup.
EV Data Center, EV Data Center Service News, May 9, 2021. https://www.ev-volumes.com/datacenter/.
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