Blink Charging Subsidiary, EB Charging, Announces Strategic Agreement with Q-Park to Deploy Hundreds of Charging Points Across the United Kingdom and Ireland
The deal follows Blink’s recent acquisition of EB Charging and accelerates the Company’s global expansion with nearly 600 charging points to be deployed across 80 sites
Miami, FL, May 31, 2022 (GLOBE NEWSWIRE) -- EB Charging, a Blink Charging (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”) wholly owned company, today announced an agreement with Q-Park, a leading parking infrastructure owner and operator in Europe, to deploy nearly 600 charging points across 80 sites in the United Kingdom and Ireland.
The Agreement, totaling over £3 million, or more than $3.7 million, will initiate EB Charging’s rollout of over 600 charging points across Q-Park’s portfolio of parking facilities in the UK and Ireland. Installations are due to commence in July 2022 and will include the modernization of the existing charging infrastructure with EB Charging’s state-of-the-art hardware.
“We acquired EB Charging precisely because of its strong market presence and reach across Europe, alongside its innovative and complementary charging technology. With this agreement, we will increase the accessibility of charging ports across the UK, Ireland and beyond, including more than doubling Q-Park’s existing charging portfolio,” said Michael Farkas, founder and CEO of Blink. “We are excited to rapidly expand our presence in the UK and beyond, and continue to fuel Europe’s position as a leader in the transition to EVs.”
As part of this agreement, EB Charging will be responsible for the installation of the EV charging hardware and for the management of the charging provision, including a 24/7 customer support service to Q-Park EV customers.
In April, Blink acquired EB Charging, marking Blink’s first entry into the UK. The acquisition added more than 1,150 chargers, installed or committed for delivery, to Blink’s footprint and serves as an important accelerant in the Company’s global expansion. Blink is now present in more than 18 countries.
Q-Park is one of the three leading providers of parking facilities in West Europe, whether wholly owned, leased, managed or in a hybrid business model. Q-Park is notable for its quality approach and has a portfolio comprising over 570,000 parking spaces in the Netherlands, Germany, Belgium, Great Britain, France, Ireland, and Denmark.
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 18 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’s principal line of products and services include the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including Blue Corner and BlueLA. 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/.
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.
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