Blink Charging and the EUNICE ENERGY GROUP establish a Joint Venture to target European Electric Vehicle (EV) Charging Market
BLINK ENTERS EUROPEAN EV CHARGING MARKET AS PART OF ITS GLOBAL PARTNERSHIP STRATEGY
MIAMI BEACH, FL, March 19, 2019 (GLOBE NEWSWIRE) -- Blink Charging Co., a leading owner, operator and provider of electric vehicle (EV) charging station products and networked EV charging services, has signed an agreement with the EUNICE ENERGY GROUP (EEG) to establish a joint venture (JV) with the purpose of targeting the European EV Charging markets, starting with Greece.
The EUNICE ENERGY GROUP (EEG) (Eunice-group.com) is one of the leading providers of renewable energy in Greece. Since its establishment in 2001, EEG has been a pioneer in advancing the creation and development of new activities in the renewable energy sector. These activities cover a full range of projects dealing with the design, development, implementation, and operation of renewable energy solutions. In addition to being a manufacturer of wind turbines, EEG owns and operates wind farms and photovoltaic (solar) plants throughout Greece. EEG is a partner in Project TILOS, Greece’s first hybrid powered station, which has won multiple award, including the EU Sustainable Energy Award. Recently, EEG received a license from the Greek government to supply electricity and started its activity in the retail electricity market, through its subsidiary WE ENERGY – EUNICE TRADING.
Blink Charging Europe Ltd. (“Blink Europe”), the JV entity, was formed with the purpose of leveraging Blink’s EV products, network, technology, and experience within the EV charging space alongside EEG’s position and financial abilities to expand the charging infrastructure in Greece and other European countries.
Sales of Plug-in vehicles have continued to accelerate across Europe with a year-over-year increase of 33% in 2018 with over 400,000 vehicles sold. These plug-in vehicles need a place to charge and Blink Europe wants to ensure that every European EV driver’s charging needs are met. Establishing Blink Europe continues Blink’s global expansion strategy and provides Blink with access to the European markets during a time of rapid expansion for the EV Charging industry.
“This joint venture to target the EV charging market in Greece comes at a critical time for the country,” stated Blink’s Founder and Executive Chairman Michael D. Farkas. He continued, “Greece was recently rated near the bottom of the EU list for electric vehicle preparedness. This was primarily due to its lack of charging infrastructure and we are excited to work within this JV to build the charging infrastructure and expand the availability of charging ports in Greece.”
“We welcome Blink Charging in Greece as well as the joint venture (JV) for Europe. Our aim is the expansion of the technology of Blink all over Europe starting from Greece and innovating in such way that the entire Greek Blink Charging Network will be powered by Green Energy produced by the EUNICE ENERGY GROUP (EEG) with a guarantee of origin G.O.” stated EEG’s Founder and Executive Chairman George I. Kalavrouziotis.
About Blink Charging Co.:
Blink Charging Co. (NASDAQ: BLNK, BLNKW) is one of the leaders in nationwide public electric vehicle (EV) charging equipment and services. Blink designs, owns, operates and sells EV charging equipment under the Blink brand, as well as a number of other charging station equipment manufacturers such as Chargepoint, General Electric (GE) and SemaConnect. Blink Charging also offers connectivity to the Blink Network, a cloud-based platform that operates, manages and tracks Blink EV charging stations and all associated data. For more information about Blink, please visit 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 Co. 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, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, the Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
Todd Baker, Vice President of Marketing
Released March 19, 2019