Blink Charging Signs Agreement with Global Quick Service Restaurant Franchisee Arcos Dorados to Provide EV Charging to McDonald’s Locations in Puerto Rico
Miami Beach, Fla., Aug. 22, 2023 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global manufacturer, owner, operator and provider of electric vehicle (EV) charging equipment and services, today announced an agreement with Arcos Dorados, the largest independent McDonald's franchisee in the world and the largest quick-service restaurant chain in Latin America and the Caribbean, to provide EV charging solutions to five McDonald’s restaurants owned by Arcos Dorados in Puerto Rico.
Under the agreement, beginning in August 2023, Blink-owned IQ 200 pedestal chargers will be installed at Arcos Dorados franchises throughout Puerto Rico including locations in Mayaguez, Fajardo, Ponce, and San Juan. These chargers will be ready to provide world-class and reliable EV charging services to customers by the end of summer.
“We applaud Arcos Dorados for their visionary move and forward-thinking actions in integrating EV charging in their prominent restaurants throughout Puerto Rico,” expressed Juan C. Barahona, US & Global Director of Operations for Blink Charging. “Arcos Dorados’s leadership within the Latin American and Caribbean dining sector sets a remarkable precedent for embracing the EV revolution. Blink is thrilled to spearhead the international EV charging landscape through an expanded footprint of charging solutions now available in Puerto Rico.”
The agreement between Blink and Arcos Dorados further establishes Blink’s strong presence in the Latin American market. Thus far, Blink has successfully sold or deployed 2,138 chargers across eight countries in LATAM since its market entery in 2020. The collaboration between Blink and Arcos Dorados represents another pivotal step in paving the way for global EV adoption. The collaboration will contribute to the development of EV infrastructure and support the growing demand for electric vehicles – with a forecasted 5.4 million electrified vehicles projected on Latin American roads by 2030.
Arcos Dorados is the largest quick service restaurant chain throughout Latin America and the Caribbean, with exclusive rights to own, operate, and grant franchises of McDonald’s restaurants to locations in 20 countries including Argentina, Aruba, Brazil, Chile, Curaçao, Ecuador, Mexico, Panama, Peru, Puerto Rico, St. Thomas, Uruguay, and Venezuela. The extensive franchise network positions Arcos Dorados as a key player in electrifying mobility throughout LATAM and the Caribbean. Blink’s fast-charging solutions will meet EV drivers where their needs exist, as the global charging leader expands its international presence.
Blink’s IQ200 chargers are the fastest Level 2 (L2) AC charging stations available, capable of delivering up to 80 amps of output. These chargers can provide approximately 65 miles of charge in just one hour. Featuring the SAE J1772 charge connector and supporting convenient payment options such as RFID, Apple Pay, Google Wallet, and major credit cards, the Blink chargers are an ideal choice for retail and restaurant locations like the various Arcos Dorados franchises throughout the LATAM region.
The initial installation of Blink EV chargers in Puerto Rico marks the beginning of a promising strategic relationship between Blink Charging and Arcos Dorados.
About Arcos Dorados
Arcos Dorados is the world’s largest independent McDonald’s franchisee, operating the largest quick service restaurant chain in Latin America and the Caribbean. It has the exclusive right to own, operate and grant franchises of McDonald’s restaurants in 20 Latin American and Caribbean countries and territories with more than 2,300 restaurants, operated by the Company or by its sub-franchisees, that together employ over 95 thousand people (as of 03/31/2023). The Company also utilizes its Recipe for the Future ESG platform to positively impact the communities in which it operates. Arcos Dorados is listed for trading on the New York Stock Exchange. To learn more about the Company, please visit the Investors section of our website: www.arcosdorados.com/ir.
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK), a global leader in electric vehicle (EV) charging equipment, has contracted, sold, or deployed nearly 73,000 charging ports worldwide, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations. Blink’s principal line of products and services includes the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including SemaConnect, Blue Corner, BlueLA and Envoy. 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 half of passenger cars sold in the US by 2030, Blink 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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